iBenefit Secures New Clients and Merchants, Upgrades Platform
Hong Kong, May 11, 2016 AEST (ABN Newswire) - 99 Wuxian Limited (ASX:NNW) is pleased to provide a business update for the month of April 2016.
- iBenefit launches mobile point redemption platform
- iBenefit selected to provide fitness incentives to ThyssenKrupp Elevator (China) employees
- Cements position in China's insurance industry with Incentive Cloud Service (ICS) signing a contract with Hong Kang Life Insurance in establishing a customer loyalty platform
- New merchants brought onboard, encouraging increased transactions on the platform
- Prepaid card channel for gas card recharge business launched on 99 Wuxian marketplace
"There have been some important developments to our platform in the last month, and we are excited to have a number of new merchants on board, broadening our offering to customers and encouraging increased transaction levels," said Amalisia Zhang, CEO of 99 Wuxian. "Our footprint in the insurance sector in China continues to grow, and we are pleased to have secured a high-profile customer in ThyssenKrupp Elevators (China)."
Key highlights during the period include:
iBenefit system upgrade: iBenefit launched its mobile point redemption platform through Wechat terminal for business partners' employees as an enhanced solution for the management of employee benefits programs. The phase one offering covers multiple sectors and types of benefits schemes including physical products, e-coupons, and 0 2 0 services. The newly launched platform enables employees to redeem their points whenever and wherever possible and improves user experience and efficiency.
iBenefit is a Software-as-a-Service ("SaaS") platform which enables companies to manage their employee benefit, incentive and loyalty programs. Designed to incentivise performance and increase employee retention, iBenefit tracks an employee's "loyalty value", presenting it in a visual display on iBenefit's platform.
ThyssenKrupp Elevator (China): iBenefit has been selected by ThyssenKrupp Elevator (China) to provide a fitness offering to employees. By partnering with some of China's leading fitness clubs (including Wills, WEIDER-TERA and Hosa), iBenefit is able to offer customised options tailored to employees' needs by providing flexibility in selection of time and place for fitness.
As one of the world's leading elevator companies, ThyssenKrupp Elevator entered the China market in 1995. It now has over 10,000 staff, around 60 branch offices and four factories across the country. The partnership with iBenefit enables ThyssenKrupp Elevator (China) to offer fitness-related incentives in a cost-efficient way that will increase employee satisfaction and retention.
Hong Kang Life Insurance: Incentive Cloud Service (ICS) secured a contract with Hong Kang Life Insurance and established a customer loyalty point redemption platform through its official Wechat account. ICS will provide customised 99 Wuxian e-coupons for lifestyle services such as movie tickets redemption or mobile phone recharge to the insurance customers.
This partnership further expands and reinforces 99 Wuxian's strong position in China's insurance industry.
Founded in July, 2012, Hong Kang Life Insurance was established under the approval of China Insurance Regulatory Commission, with registered capital of 1 billion yuan and headquartered in Beijing. It has already won significant industry recognition and awards, including "The most innovative insurance company" awarded by the Financial Times and China's Financial Annual.
ICS is a mobile rewards redemption service that uses advanced cloud technology to enhance connectivity between companies and their customers. The service delivers increased customer loyalty and satisfaction, while enhancing operational efficiency for the company.
New merchants onboard: 99 Wuxian has commenced partnerships with a number of leading Chinese online video sites including Youku Tudou, iQIYI and Migu, to promote electronic membership cards to customers. Marketing campaigns are being initiated to acquire new customers and retain existing customers which will expand the user base and increase user engagement on 99 Wuxian's platform, generating additional transactions on the platform.
As copyright protection in China improves, Chinese customers have formed the habit of paying for copyright; the market for video site paying membership experienced strong growth in 2015. For example, iQIYI, a leading video website in China, gained 5 million paying members in June 2015 and by the end of 2015 the number of subscribers had doubled.
Prepaid card channel for gas card recharge business: 99 Wuxian has successfully expanded its gas card recharge business into two new channels; Electronic Bill Presentment and Payment (EBPP) Platform and the third party payment platform of Shanghai China Steel Group. Users are able to use the prepaid card issued by these platforms as a way to buy gas card services. This enhances the potential applications for the virtual goods and services on 99 Wuxian's marketplace and the Company will continue to expand its prepaid card platform channels to provide more virtual goods and services.
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About 99 Wuxian Ltd
99 Wuxian Ltd (ASX:NNW) aggregates over 300 million high quality consumers and 155 leading merchants through a marketplace embedded within the mobile apps of China's leading banks, telecommunications and insurance companies. 99 Wuxian enables increased customer satisfaction, loyalty and retention for its business partners by offering consumers the lifestyle convenience of purchasing virtual and physical goods on a mobile device.