Sydney, Australia, July 1, 2014 - (ABN Newswire) - 99 Wuxian Ltd (ASX:NNW) is one of the pioneers in the mobile Internet space. Founded just three years ago, they are now the largest mobile service provider platform, servicing the Bank of China, Agricultural Bank of China, Industrial and Commercial Bank of China and China Construction Bank with nearly 50 branches according to the market share of mobile e-commerce data. They are the third largest mobile provider trading platform after TaoBao and Jingdong. Due to their achievements and exceptional performance over such short period of time people named them "the invisible runner up" in the mobile internet platforms.
People who engage in the Internet industry are often considered as "geeks" or "nerds". However this is not the case for the CEO of 99Wuxian- Amalisia Zhang. Short hair, professional outfit with high heels and along with light makeup Amalisia shows the exact opposite.
After receiving tertiary education overseas, the typical development path is to target corporate and international companies, however Amalisia has a different approach. By giving up the opportunity to work for the major banks Amalisia decided to create her own business after working for PCCW and Ctrip.
In 2003 under Amalisia's leadership, 99 Wuxian had a turnover of 4.96 billion yuan in mobile shopping platform weighting 2.9% amongst the overall market turnover of 167,640,000,000 yuan. That figure surpassed Tencent by 1.5%, ranking third, just behind Taobao and Jingdong.
Nine years ago, when smart phones were just being integrated, Amalisia noticed the potential of mobile payments, and in 2006 she began to engage in the development of mobile payment related work. With a large number of bank cards being issued compared with the unevenly distributed EFTPOS machines (only 610,000 units), she realized there was a huge gap between cards and machines. As a result, a lot of the value of the bank card has not been fully utilized.
After 99 Wuxian built the initial mobile payment platform, the banks realized that by just having the ability to do transactions and balance checking on a mobile was simply not enough. There has to be something else being integrated in order to attract more users to use and adapt to the new platform. Thus, the demands from the banks created the e-commerce system and platform by 99Wuxian.
With the rise of the mobile commerce industry, there are many financial institutions that would also like to get involved and split the field with 99Wuxian. However, they don't seem to release the complexity behind it, such as the business itself, pre-construction and post-maintenance support.
99 Wuxian plays a bridging role between financial institutions and merchants. On the one hand, businesses can get more consumers through this platform at a lower cost, and at the same time can satisfy consumers anytime, anywhere via their mobile devices. On the other hand, the major financial institutions can develop a client base and provide secure payment and convenient services through this platform. 99 Wuxian has strict rulings and demands high standard of excellence when it comes to cooperation and partnering. Such partners have to ensure the quality of their goods and at the same time they have to ensure the services they provide are up to par. "Whether it is complaints handling, the efficiency of exchanging and returning of goods, they are all being monitored under strict rules. If the process does not meet the standard, their contract with 99 Wuxian will be terminated."
The biggest difference between 99 Wuxian and Jingdong and Taobao's platform is that, instead of having a B2C platform, Amalisia has modified it and turned it into a "B2B2C" model. Which 99 Wuxian is directly connected with the major banks, have their services built in the banks' mobile APP and through careful review and selections from tenants, provide quality goods to the major banks' customers.
This revolutionary way of payment has already gone above the safety and convenience compared with traditional bank cards. Up to this date, 99 Wuxian has already been working closely with over 50 banks including the major banks to provide goods and services to their customers.
Many may argue that what 99 Wuxian do cannot be physically seen. However, once you enter your mobile banking app you have already entered the world of 99 Wuxian.
Due to the experiences that Amalisia gained when working with PCCW and Ctrip it gave her a precise vision and determination when it comes to developing 99 Wuxian. Under her leadership, the company was listed on the ASX in October 2013.
Up until now, there is growing attention for personal entertainment for mobile internet users. To address that sense of urgency 99 Wuxian has not just a professional research and development team of experienced analysts but they also engaging with famous universities such as Tsinghua University. With all the integration, research and development, it allowed 99 Wuxian to have a better prediction on consumers' behaviors. It also allows them to thrive for better innovation and provide more value for not just their existing, but also their potential customers.
It is believed that a company like 99 Wuxian still has a lot of potential to grow and who knows what they will turn into in the near future?
About 99 Wuxian Ltd:
99 Wuxian Ltd (ASX:NNW) provides online financial and operational services for more than 50 domestic banks, securities and operators with cooperation covering value-added applications, data mining, precision marketing and other areas of expertise: Provide data acquisition and mining, setting up of intermediate business platform.
99 Wuxian Ltd
Mr Ross Benson
Mr Geoff Fowlstone