99Bill, a popular online payment gateway service provider today revealed its mobile payment solution, Kuaishua (meaning quick swipe in Chinese) which enables everyone pay with credit card anywhere just using his/her mobile device. 99Billโs VP, Bao Haiwei gave a demo today at its press conference, and like Square, Kuaishuaโs reader also uses audio input of iPhone 4. Itโs reported that the price for Kuaishuaโs reader is not decided yet, but Bao told the media it would be rmb10.0 each with amount of rmb10.0 prepaid. Kuaishuaโs the 2nd Square-liker service weโve found in China, and the first is QFpay.
Alipay seems now under a huge pressure recently and its continuous domination in Chinese online payment market suddenly becomes uncertain. Especially for mobile payment market which is fairly new and every player still has the chance. Alipay released its Barcode Pay as its mobile solution back in July but this time 99Billโs solution obviously looks more fancy.
99Bill claims over 1.1 millions merchants and a total of 103 million registered users by the end of July 2011.
