eLong to Phase Out Cash Payment in 2010

Beijing Times, 8/18/10

Cui Guangfu, CEO of Chinese travel services site eLong (Nasdaq: LONG), said today that eLong will roll out full support for credit cards within the year. Currently, only a handful of cities, including Beijing, Shanghai, and Guangzhou, also accept cash payment; by year's end, eLong will only accept credit card payments in these cities.

Cui said 15% of current eLong customers opt to pay in cash; after the company rolls out full credit card support, it will stop accepting cash in favor of credit or debit card payments. The reason, Cui said, was that the company expects credit card payments to become a strong trend over the next two to five years, adding that the new unified payment system would allow eLong to create a better customer experience.

Keywords: Cui Guangfu Internet eLong LONG online travel

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