Tuesday, 21 April 2015 16:16

Love-in for SmartTrans and China Telecom with mobile finance deal Featured

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Listed mobile and online payments platform and logistics software provider SmartTrans (ASX:SMA) has sealed an agreement with China Telecom to promote and distribute its financial news and information product to the Chinese telco’s 188 million subscribers through a new platform called ‘Love Finance’.

Under the commercial agreement, China Telecom’s new brand ‘Love Finance’ will be promoted though a variety of channels including, but not limited to, mobile phone newspapers, text messages and WAP business channels.

Subscribers to Love Finance will pay CNY5.00 (A$1.00) per month for the SmartTrans product.

SmartTrans’ Managing Director, Bryan Carr said Love Finance is a product that aims to inform and educate subscribers on the latest financial news and personal finance products.

Carr says the platform is scheduled for launch in May, after which China Telecom and SmartTrans will work closely to expand the range of information, services and content available to consumers via this medium.

SmartTrans will be responsible for content management for the brand, which it will source from Ta Kung Pao, China’s oldest existing and also first online newspaper, while China Telecom will be responsible for the integration and launch of the products within the China Telecom customer network, ongoing business operation, marketing, promotion and payment collection.

In its statement to the ASX, SmartTrans says it considers the agreement with China Telecom is an excellent growth and revenue opportunity, “especially with the booming interest in personal investment and share markets in China”. “This is highlighted by the fact that last month 1.6 million new trading accounts were opened in mainland China over just five days (with 6 million for the month), eclipsing all previous records”.

Under the deal, SmartTrans will receive ongoing royalty fees from monthly subscriptions to Love Finance products, meaning that, once a customer is secured, the revenue will be “passive and recurring in nature from subscription holders”. SmartTrans also has the ability to earn further royalties for the purchase of additional content and upgrades.

“This ground-breaking deal is the culmination of SmartTrans’ established and strong relationship with China Telecom and the close working partnership we have formed with China’s oldest and most esteemed newspaper group, Ta Kung Pa,” Carr said.

“With the exploding interest in share markets in China we see this as a huge opportunity, especially through the captive customer database of users focused on finance and personal investment – this demographic will be particularly attractive to third parties who wish to promote a vast range of products and services, something which SmartTrans can certainly leverage.

“We will now focus on progressively increasing the range of offerings that we can promote and sell to consumers via this channel in order to maximise the value of this opportunity.”

“We have been working with China Telecom for some months on this deal and are excited to be launching the Love Finance Mobile brand in co-operation with two such strong and highly regarded partners as Ta Kung Pao and China Telecom. We look forward to updating shareholders on this exciting initiative as it progresses.”

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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