Blue Bamboo Partners with KPay for Beijing Transit Card Payment Solution

SHANGHAI, China--(BUSINESS WIRE)--Blue Bamboo has teamed up with KPay to launch retail payment services for the Beijing transit card.

“We are excited to be working with KPay in the China transportation segment and to have the opportunity to demonstrate our ability to provide a simple, reliable and affordable payment solution”

KPay and Blue Bamboo have partnered to integrate contactless IC technology into the Blue Bamboo H50 GPRS Terminal to provide a point-of-sale solution deployed into local convenience stores, where Beijing transit cards are being accepted for “tap-and-go” retail purchases.

“We are excited to be working with KPay in the China transportation segment and to have the opportunity to demonstrate our ability to provide a simple, reliable and affordable payment solution,” said Jason Jones, CEO of Blue Bamboo. ”By leveraging our technology with KPay’s marketing expertise and merchant relationships, we are able to offer consumer’s speed and convenience for micro-payments.”

With over 12 million transit cards issued to commuters in Beijing for use in the subway, buses and taxis, merchants can quickly realize the benefits of this fast, reliable, and secure contactless payment solution. KPay expects their point-of-sale solution footprint will grow to cover thousands of retail stores in Beijing by the end of 2007.

About Blue Bamboo

Headquartered in Shanghai, China, Blue Bamboo designs and markets feature-rich and exceptionally affordable products for the POS terminal and peripherals industry. Blue Bamboo’s robust electronic payment technology delivers scalable, customer-centric wireless and retail payment solutions which meet PCI and EMV standards all in a secure, reliable and versatile design. Visit www.bluebamboo.com for more information.

About KPay

Kpay, a Chinese subsidiary of Vesta Corporation, has a 5 year contract for the sale and distribution of contactless prepaid Beijing Transportation Cards outside of commuter and bank locations. KPay has been authorized to setup a POS network for transit card recharge and is able to use the POS network to accept payments from the card for retail products and other non-transportation products, in addition to selling advertising and personalization on the cards. Visit www.kuaipay.com or www.trustvesta.com for more information. Link: www.trustvesta.com/press/press_20070710.aspx.