mPayy Founder and CEO Speaks at People’s Bank of China Conference

CHICAGO & BEIJING--(BUSINESS WIRE)-- The rapid growth of mobile payments worldwide has everyone paying attention, but for obvious reasons the focus is on China. Yesterday at the China International Exhibition on Financial Banking and Technology Equipment (CIFTEE) in Beijing, the founder and CEO of U.S.-based alternative payment provider mPayy spoke about and demonstrated the company’s contactless payment solution, which is being considered by the Chicago Transit Authority (CTA) in its bid to revamp its payment system.

Mr. Sheehan’s session addressed the state of contactless NFC payments, the problems with legacy credit card networks and the battle that exists between banks and mobile carriers over the future of mobile commerce, customers and profits. He also demonstrated the mPayy contactless payment solution for mass transit, point-of-sale, train ticketing, coupons and mobile P2P.

Chinese economic growth is increasing the need and demand for mobile commerce and payment solutions,” noted Sheehan. “We’re thrilled by the interest in alternative payment networks that deliver significant advancements over entrenched legacy systems for online and mobile payments.”

About mPayy, Inc.

mPayy is a secure online and mobile payment platform that enables merchant and bill payment processing for any sized business, plus quick and simple payment for buyers. The company’s highly scalable platform improves margins by eliminating fraud and reducing transaction costs. mPayy’s efficient and ubiquitous payment service enables profitable micro-payments; easy, yet secure purchases of digital content and physical goods; flexible recurring and subscription payments. Visit www.mpayy.com or follow mPayy on Twitter @mpayy.

About China International Exhibition On Financial Banking Technology & Equipment (CIFTEE)

CIFTEE is an annual international exhibition on financial information and technology. It is authorized by the Ministry of Science & Technology of P.R China and the People's Bank of China (P.B.C in brief), sponsored and organized by China Financial Computerization Corporation of P.B.C, supported by the Division of Science and Technology of the People's Bank of China and the Information Center of China Banking Regulatory Commission, and co-organized by the information & science department of 27 financial bodies, including policy-based banks, state-owned commercial banks, joint-stock commercial banks, asset management companies, insurance companies, China UnionPay Corporation, Ltd. and China Banking Association. http://www.ciftee.com.cn/english.

CONTACT:

Ruder Finn for mPayy
Kristie Heins Fox, 312-329-3985
heinsfoxk@ruderfinn.com

KEYWORDS:   United States  Asia Pacific  North America  South America  China  Illinois

INDUSTRY KEYWORDS:   Technology  Consumer Electronics  Data Management  Internet  Software  Other Technology  Mobile/Wireless  Professional Services  Banking  Finance  Other Professional Services

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