China LotSynergy partners Minsheng Bank for mobile lottery services

3rd April 2014 8:07 am GMT

China LotSynergy Holdings has launched a jointly developed mobile lottery business in China, providing Minsheng Bank’s customers with lottery purchasing services for a variety of mainstream lottery games.

The company’s subsidiary, Beijing Huacai Yingtong Technology Company, developed the business in partnership with China Minsheng Banking Corporation.

Through Minsheng Bank’s mobile banking application, Huacai Yingtong will provide the bank’s customers with mobile lottery purchasing services for a range of lottery games. The application has also been rolled out to Android and iOS platforms.

According to Huacai Yingtong, Minsheng Bank has built a dedicated customer service platform by utilizing its mobile banking, e-banking and customer service channels. At the end of last year, the bank had a mobile banking client base of over 5m, transacting more than RMB1 trillion during 2013.

Huacai Yingtong has now partnered with eight financial institutions in China on lottery related business, including Bank of Communications, China UnionPay, China Merchant’s Bank, Bank of China, Shanghai Pudong Development Bank and Bank of Chengdu.

The company believes that e-banking and mobile banking is still undergoing a growth phase and therefore has massive growth potential.
“The group is optimistic about the prospects of the overall market, and through its close partnerships with many financial institutions, it aims to ensure that it further establishes its advantages in the new media lottery sector,” said the company.

Last week, Huacai Yingtong became a lottery service provider for the Industrial and Commercial Bank of China Limited (ICBC), providing customers with lottery purchasing, inquiry and other lottery related services through ICBC’s e-commerce platform.

ICBC introduced its multifunctional e-commerce platform in 2014 which encompasses product information, purchasing and payment services. At present, ICBC has a client base of over 390m e-banking customers, of which over 160m are personal e-banking customers.

Huacai Yingtong said that the cooperation with ICBC marks the “culmination of the group’s longstanding strategic focus on financial institutions and increased recognition from its partners, the market and its customers,” and represented another milestone in its efforts to enhance further cooperation with financial institutions.

In its results for 2013, China LotSynergy recorded a 22 per cent increase in turnover to HK$743.8m, with video lottery terminal (VLT) sales reaching record highs. Profit for the year rose 30 per cent to $262.2m.

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