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TTG & Kuang-Chi Signed Strategic Cooperation Framework Agreement

2014-04-10        From:TTG

On April 10, 2014, the Strategic Cooperation Framework Agreement Signing Ceremony & Press Conference between Kuang-Chi Innovative Technology Ltd. (referred to as Kuang-Chi) and its partners was successfully held in Shenzhen Convention & Exhibition Center. During the ceremony, Kuang-Chi signed a strategic cooperation framework agreement with TTG, Shenzhen UnionPay Financial Network (referred to as UnionPay), Shenzhen Intelligent Preferential Pay IT Co., Ltd. (referred to as IPP), and China Telecom Shenzhen Branch (referred to as Shenzhen Telecom) for the combined efforts of mobile photonic payment solution.

It is based on the leading newly technology of Kuang-Chi, intelligent photonic technology, supported by the FEA service platform developed by TTG and UnionPay, ULPOS, the financial network resources of IPP and the BestPay business of Shenzhen Telecom to form an integrated chain of payment medium, discount vouchers and offline data, creating a perfect consumption-payment closed loop. The photonic payment is compatible with bank, Internet and advance accounts, so that it can draw the abundant online resources into offline channels and achieve the O2O mode. In addition, TTG and four other enterprises announced to start the formulation of relevant national standards based on this technology, leading the promotion and application of this brand new payment mode in future.