Sumavision Confirms Launch of Internet TV Payment Platform
Sina Finance, 8/15/13
Beijing-based digital video and IPTV system provider Sumavision (300079.SZ) recently released a statement confirming that in March 2013, the company began discussions involving integration of its digital TV third-party payment platform "Sumapay" with Future Television, a subsidiary of China Central Television's (CCTV) national online TV station CNTV. The partnership was formally established in June 2013. According to the agreement, Sumavision will provide third-party payment services to users on CNTV's internet TV broadcast and control platform. The payment platform has been officially launched.
In June 2012, Sumavision obtained a third-party payment license covering both internet payment and digital TV payment, allowing the company to process internet and TV payments nationwide.
Sumavision also announced that it has received substantial orders for its "ultra-fast optical network" in 2013, contributing approximately RMB 20 mln in revenue in H1 2013.
Editor's Note: For more background on this topic, please see "Sumavision Offers TV Payment Services in Chongqing" MD 5/07/13 issue and "Wasu, Sumavision Partner on High-Speed Optical Network" MD 4/11/13 issue.
Keywords: IPTV television CCTV Sumavision third-party payment TV payment CNTV 300079.SZ Future Television e-payment TV payment
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