WALTHAM, Mass.--(BUSINESS WIRE)--ModusLink Global Solutions™, Inc. (NASDAQ: MLNK), which designs and executes value chain strategies for the world’s largest technology and consumer goods companies, today announced new and expanded payment service relationships with Citibank Japan, Alipay and PayPal. The addition of these financial institutions to its service provider roster is indicative of ModusLink’s efforts to provide a complete financial management system for its global clients.
“In today’s global, and increasingly digital, economy, it’s easier than ever to sell internationally, but the financial infrastructure in each country is unique and can be highly complex to navigate,” said Glenn Grube, global director, e-Business sales and marketing for ModusLink. “By adding Alipay, Citibank Japan and PayPal in the Asia-Pacific region, as well as expanding our comprehensive global order and transaction management capabilities, we can help our clients streamline payments across borders and offer their products to more customers.”
The addition of Citibank Japan Ltd. (Citibank Japan) and Alipay as integrated payment providers for ModusLink’s e-commerce solution and expansion of PayPal services globally, broadens the number of consumers its clients can sell to online. The service providers each bring a significant footprint in Asia, specifically:
- Alipay, China's largest online payment network, had more than 600 million registered accounts and facilitated approximately 11 million transactions per day as of October, 2011.
- Citibank Japan is one of Japan’s leading international financial institutions. Citibank Japan is comprised of two business divisions: the Retail Banking division, which provides banking services to a wide range of retail customers and the Corporate Banking division, which is dedicated to institutional clients. Citibank Japan’s in country Retail Banking division hosts a network of 32 branches and sub-branches, two state-of-the-art call centers and a new best-in-class Internet banking platform. In addition to providing best in class capabilities in Japan, Citi is a global partner to ModusLink, providing dependable and far reaching banking coverage around the world.
- With more than 100 million people currently using its services in 190 markets with 25 different currencies, PayPal has become a leading provider of global e-commerce in the U.S., Europe and Asia.
“Businesses are constantly looking for ways to improve the customer buying experience – regardless of channel or location,” said Jerry Sung, vice president of Alipay. “Our online payment tool is designed to meet the needs of both consumers and online merchants. By establishing this relationship, we’re able to offer our users more choices online while knowing ModusLink understands the complexity of global e-commerce.”
ModusLink's e-Business Suite of Solutions offers brand owners and retailers a set of integrated services from e-commerce and financial management, to a full suite of marketing and loyalty, customer care, fulfillment, entitlement management and returns processes. Clients can gain access to new revenue streams, lower total cost of operations and increase customer acquisition and retention. For more information, please visit www.moduslink.com/e-business.
About ModusLink Global Solutions
ModusLink Global Solutions, Inc. designs and executes global value chain strategies to solve clients' cost, time-to-market, customer satisfaction and revenue objectives. Our supply chain, aftermarket, e-Business and entitlement management solutions support the end-to-end product lifecycles of the world's leading technology and consumer goods companies. ModusLink has more than 25 years of experience executing complex supply chain processes such as sourcing, configuration and fulfillment. We can manage these critical functions seamlessly with a client's global e-Business initiative or an integrated aftermarket program, including alternative channel recovery for at-risk inventory. Backed by a footprint of more than 25 solution centers in 15 countries, ModusLink clients can react quickly to shifting market dynamics impacting value chain performance and revenues. For more information about ModusLink's flexible, scalable and sustainable solutions, visit www.moduslink.com or www.valueunchained.com, the blog for value chain professionals.
Alipay is China's leading online payment solution, enabling individuals and businesses to execute payments online in an easy, safe and secure manner. Alipay had over 600 million registered accounts as of October 2011. Alipay partners with banks to provide an escrow payment service, which reduces the settlement risks faced by Alipay's customers in their e-commerce transactions. Founded in 2004, Alipay is headquartered in Hangzhou and an affiliate of Alibaba Group.
About Citibank Japan Ltd.
As one of Citi's core businesses in Japan, Citibank Japan Ltd. (Citibank Japan) provides banking services through its Retail and Corporate Banking divisions. Citibank Japan is comprised of two business divisions: the Retail Banking division, which provides banking services to a wide range of retail customers and the Corporate Banking division, which is dedicated to institutional clients. As of July 1, 2011, Citibank Japan operates in 38 locations (including 32 retail branches/mini-branches) throughout the country.
PayPal is the faster, safer way to pay and get paid online. The service allows people to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 100 million active accounts in 190 markets and 25 currencies around the world, PayPal enables global commerce. PayPal is an eBay (Nasdaq:EBAY) company. PayPal is headquartered in San Jose, Calif. and its international headquarters is located in Singapore.
ModusLink Global Solutions is a trademark of ModusLink Global Solutions, Inc. All other company names and products are trademarks or registered trademarks of their respective companies.
This release contains forward-looking statements, which address a variety of subjects including, for example, the expected benefits of the expanded payment service options. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the Company's success depends on its ability to execute on its business strategy and the continued and increased demand for and market acceptance of its solutions and services, including its financial management systems as well as the e-Business Suite of Solutions; the Company may not be able to expand its operations and capabilities in accordance with its business strategy; the Company may experience difficulties integrating technologies, operations and personnel in accordance with its business strategy; the Company derives a significant portion of its revenue from a small number of customers and the loss of any of those customers would significantly damage its financial condition and results of operations; the Company frequently sells to its clients on a purchase order basis rather than pursuant to contracts with minimum purchase requirements, and therefore its sales are subject to demand variability increased competition and technological changes in the markets in which the Company competes; and risks associated with international operations. For a detailed discussion of cautionary statements that may affect the Company's future results of operations and financial results, please refer to its filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Forward-looking statements represent management's current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.