Expansion of O2O Strategy and Marketing Campaigns
Hong Kong, Mar 9, 2015 AEST (ABN Newswire) - 99 Wuxian, (
ASX:NNW) ("99 Wuxian" or "the Company") the leading Chinese mobile commerce company that operates a mobile online market place is pleased to provide its monthly business update.
99 Wuxian's mobile online market place provides value-added application services to banks and merchants. The mobile online market place offers a variety of physical and virtual goods to consumers via a mobile banking application available on a smart phone or tablet.
99 Wuxian is currently the market leader in the Chinese business to business to consumer (B2B2C) m-commerce segment with more than 40 million registered users. The company has established working partnerships with more than 50 of the top Chinese financial institutions, including the country's four largest banks.
Online to Offline (O2O) Partners: 99 Wuxian has recently commenced integrating electronic coupon suppliers such as Haagen-Dazs, Mcake Bakery and 7-11 convenience stores onto its Incentive Cloud Service ("ICS") rewards redemption platform. The development of these relationships with electronic coupon suppliers reflects the continued advancement of 99 Wuxian's O2O strategy and delivers significant benefits to suppliers and business partners, providing direct marketing and driving growth of online to offline sales. According to iResearch, the O2O market in China for restaurant reservations, ticket pickups and other services is expected to grow by 20 to 50 percent from 2014 to the end of 2017, while O2O transactions involving traditional retailers and mobile payments are expected to grow by 600 percent. iResearch forecasts O2O sales to exceed 170 billion yuan (US$27.3 billion) by the end of 2017.
CEO Amalisia Zhang commented: "This is a very exciting initiative and delivers a number of key outcomes for 99 Wuxian's ecosystem, firstly this initiative strongly positions the Company to participate in the significant growth expected in O2O, secondly it expands our rewards platform offering and thirdly it enhances the value proposition of our platform to consumers and business partners."
China Minsheng Bank: Following the success of the joint marketing campaign last year, 99 Wuxian and China Minsheng Bank will launch the "prize every day, sales every week" joint marketing campaign in March 2015. Throughout the promotion, for every transaction China Minsheng Bank customers conduct through their mobile banking application (e.g. money transfer, remittance, purchasing and bills payments, etc.) they will be entered into a lucky draw for the chance to win instant prizes.
99 Wuxian is committed to providing its business partners with a high quality service that provides the best user experience possible. This commitment has helped China Minsheng Bank grow its number of mobile banking customers to more than 13 million as at December 2014, a 130% increase since 2013.
Shanghai Pudong Development Bank, Credit Card Centre: Commencing from March 2015, 99 Wuxian will extend its Incentive Cloud Service rewards redemption platform to Shanghai Pudong Development Bank's ("SPD Bank") credit card program. The rewards redemption platform covers SPD Bank's WeChat and Direct Bank customers. The service will enable SPD Bank cardholders to redeem their loyalty points directly through SPD Bank's mobile banking application or through their WeChat accounts. Moreover, all future marketing activities of WeChat Bank and Direct Bank will also be carried out on this integrated platform that 99 Wuxian has customised and developed specifically for SPD Bank.
Since it was founded in August 1992, SPD Bank has continued to innovate and enhance the operation of its business. By establishing WeChat Bank in 2013 and Direct Bank in 2014, SPD Bank created an excellent user experience for its cardholders. 99 Wuxian's cooperation with SPD Bank will provide cardholders customers with a novel and exciting service through which loyalty points can be redeemed and assist with the development of SPD Bank's WeChat and Direct Bank operations. 99 Wuxian has developed a new and exciting pathway for financial institutions to service their customers.
About 99 Wuxian Ltd
99 Wuxian Ltd (ASX:NNW) aggregates over 300 million high quality consumers and 155 leading merchants through a marketplace embedded within the mobile apps of China's leading banks, telecommunications and insurance companies. 99 Wuxian enables increased customer satisfaction, loyalty and retention for its business partners by offering consumers the lifestyle convenience of purchasing virtual and physical goods on a mobile device.
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