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BilltoBill与南方航空签订南方航空国际支付备忘录 |
Melbourne, Australia, August 3, 2006 – BilltoBill Limited, a wholly owned subsidiary of
Australian online payments solutions provider, Oriel Communications Limited (ASX: OCO) has
signed a Memorandum of Understanding with China Southern Airlines Company Limited
(“CSA”).
BilltoBill will provide a payment processing solution for CSA’s international on-line travel
business, using credit cards and other payment methods. BilltoBill is the first online payment
company to be used by any Chinese airline for its international business transactions.
The agreement with BilltoBill represents a new distribution channel to CSA’s existing
international business.
CSA is China’s largest airline. In terms of traffic volume, CSA reported that in 2005 it carried a
record 43.7 Million passengers (domestic and international), representing one-third of the total
passenger traffic amongst all Chinese airlines; and in the same year, CSA’s domestic and
international sales revenue amounted to over 4.3 Billion RMB (US$500 Million) representing
32% of the total market share amongst all Chinese airlines and more than doubling each year
over the past five years.
Oriel’s CEO, Martijn Hovinga, said “We were successful in concluding an arrangement with
CSA due to their desire to become the first in China to offer an online payment solution to their
international travel customers. In addition, our exposure in China and more specifically in the
airline industry allowed BilltoBill to secure CSA in what is expected to be our largest client by
transaction volume.”
BilltoBill anticipates this arrangement with CSA to be the first of many in the airline industry in
China and Asia and follows the recent signing of Singapore Airlines routes into China as
announced in June 2006. BilltoBill will support CSA from its offices in China where it has
established strong technical software engineering support for clients in China and Asia.
Potential revenues from this relationship cannot be determined at this time, however BilltoBill
will disclose transaction volume performance once a sufficient period of processing has taken
place via the BilltoBill payment service, and ultimately a prediction of future earnings.
BilltoBill expects to finalise the signing of a Payment Services Agreement with CSA in the near
future, when it will commence processing transaction for CSA’s international air travel business.
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