China's payment companies and airlines are joining to ride on the rising wave of demand for e-payment, a forum in Shanghai was told yesterday.
China Payment and Remittance Service Co yesterday teamed with Zhong Hang Xin Gang Guarantee Co, the major guarantee company for airline ticket agencies, as strategic partners seeking more cooperation on airline ticket e-payments.
The two parties will thus improve leverage in each other's networks, and improve client resources for online payments for airline tickets as well as capital settlements and agent guarantees.
Zhong Hang Xin Gang is a state-owned company set up especially for airline agency guarantees.
China PnR, set up in 2006, is increasing its hold in the airline tickets e-payment market by linking with guarantee companies and airlines. The Shanghai-based company has joined up with 17 airlines, including Air China and China Eastern Airlines, for e-payments, including online and telephone payments.
PnR was set up as a third-party payment company by former senior managers from China UnionPay Co, the only trans-bank card payment switch company in China.
Airline companies are also building up their direct sales channels via online and telephone sales as with e-tickets and e-shopping.
Air China expects the direct-sales channels to contribute up to 50 percent of its tickets sales by 2014 from this year's 4 percent.
