Online-Payment Firms Target China

Yahoo’s possible tie-up with Alibaba might be announced later tonight, and that would certianly fuel the e-commerce potential of China. The growth of online-payment services is considered crucial to promoting e-commerce in China, which has been slow to develop despite the emergence of a tech-savvy middle class.

Hopefully online gaming will play a big part in the online payment adoption, as this story illustrates. 99Bill, for instance, has teamed up with NetEase to sell inexpensive “prepaid” online-payment cards at convenience stores and Internet cafes that kids can use to pay for online games on NetEase’s popular website.

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