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11/2/2005

China gears up for e-commerce boom

11/2/2005 | Filed under: eBusiness — site admin @ 4:46 am

Just like the U.S. tech boom of the 90s, Chinas Net entrepreneurs are young, smart and riding the crest of a wave.

Young, wired and hooked — the countrys online tribe is massive, and its members are itching to get their fix.

For e-commerce execs, this place looks like the mother lode, but there is just one hitch — China has a notoriously fragmented banking system.

There are too many ways to pay, from online game cards, debit cards, international debit cards, local credit cards, bank wires, post wires, and last but not least, cash.

Oliver Kwan, CEO of 99bill.com is out to connect all the dots.

Kwans company offers a fast, safe and streamlined way for Chinese Web users to pay online.

Massive steps forward are being made on the new e-commerce frontier that is China, this story addresses some of the challenges faced and how they were handled….

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