New Mobile Payment Initiated by SF Express
One of China’s leading delivery services SF Express has officially launched an innovative mobile payment system with cooperation of China Citic Bank. But using the newly introduced Citic SF App that is only available on the iOS and Android systems were users get 5 to 10 percent discount when paying for express delivery fees.
The new phone app will allow users to link itself with Citic Bank credit card, which then can be used to fill up mobile phone balances, purchase Citic Bank wealth management products plus any products using SF’s online shopping store SFBuy. The new system is designed to meet the demands of China online shoppers and to give more convenient services for express deliveries.
Recently China witness a boom in the express delivery market although the industry is fragmented and marked by price wars. Revenue for the express delivery businesses has increased by 42 percent or $33 billion making it the leader in the world in the number of the deliveries last year. And so far the industry is enjoying the benefits of the growth of the online commerce in the country.