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YeePay Passes PCI DSS Compliance Assessment Performed by atsec information security

2010-06-11

Beijing, China - atsec information security announced today the successful completion of the Payment Card Industry Data Security Standard (PCI DSS V1.2) compliance assessment for YeePay’s third-party payment platform card-holder environment.

As a leading and independent third-party payment service provider in China, YeePay provides merchants and consumers with “secure, simple, and happy” electronic payment solutions and value-added services.

“Security and reliability are the foundations of continuous and safe development of electronic payment platforms,” said Bin Tang, CEO of YeePay “In March 2007, YeePay received a security certification as an independent payment company from the China Information Technology Security Evaluation Center. The successful PCI DSS compliance assessment at this time shows YeePay’s ongoing commitment to system security and risk management.”

According to the “China Third-party Payment Market Bluebook” published by Analysis International, the total volume of third-party payments reached 555.03 billion Chinese yuan in 2009 with an increase of 135.6%. The estimate for third-party transactions is more than one trillion yuan for 2010. This rapid increase has led to more demand for payment solutions and faster software development cycles In China.

“Compliance will be the key factor that influences the development of the whole industry in this phase. Since the PCI DSS is currently the most authoritative international security compliance assessment and accreditation program, this standard will play a very active role in the development of the electronic payment industry in China”, said Bin Tang.

The Lead QSA (Qualified Security Assessor) for this project, Yan Liu said: “Assurance processes and security technology will support the fast growth of organizations and make their operations more controllable, secure, and stable. As one of the world leaders in security audits, assessments, testing, and consulting services, atsec is honored to support the information security infrastructure in China.”

As a Qualified Security Assessment Company (QSAC) and Approved Scanning Vendor authorized by PCI Standard Council, atsec provides formal assessment based on the PCI DSS standard in the United States, Europe, and China. atsec consultants have longstanding experience with IT security standards and have helped many organization plan and implement information security management systems.

About atsec information security
atsec information security (www.atsec.com) is an independent, standards-based information technology security services company that combines a business-oriented approach to information security with in-depth technical knowledge and global experience. atsec was founded in Munich, Germany in 2000 and has extensive international operations with offices in the U.S., Germany, Sweden, and China. atsec's service include formal laboratory testing and evaluation, independent testing and evaluation as well as information security consultancy.

atsec offers services under the PCI SSC programs and is a QSA Company able to offer assessments against both the PCI DSS and the PA-DSS. atsec supports these activities with penetration testing, application security, Approved Scanning Vendor services and information security consulting. atsec is independent and does not have any commercial relationships with any product vendors.

About YeePay
As a leading independent third-party payment platform in China, YeePay (Yeepay.com) was established by Bejing TongRongTong Information Technology Co.,Ltd in August of 2003. Since its inception, YeePay has continuously provided various merchants and consumers “secure, simple, and happy” e-payment solutions and services.

Based on on-line payments, YeePay provides telephone payments which integrate Internet, mobile phone, and telephones over a unified platform to cover both on-line and off-line e-payments. Meeting the requirements of demand and customization, YeePay also provides dedicated payment solutions for travelling, games, e-shopping, and education examination. Yeepay has service agreements with over 10,000 medium-to-large merchants, such as Baidu, Sohu, Eachnet, DangDang, HuiCong,The9, Shanda, WanMei, HaiNai Airline, ShenZhen Airline, SiChuan Airline, and China Southern Airline.

With its innovative, pragmatic style, cutting-edge technology, and responsible image, YeePay has ganered addtional commitment from its finance partners. YeePay has formed strategy alliances with IBM, ICBC, CMB, VISA, China UnionCom, and ShangHai TeleComm.

The excellence of YeePay’s services are broadly accepted in the payment industry. YeePay was ranked as a “AAA level trust corporation” by China E-commerce in association with Travelsky, Haier, and PICC in October of 2007. In the same year, YeePay was selected as one of the China Internet Top-100 and Innovation-50 enterprises by China Internet Association, and it was honored as an excellent enterprise of the China e-payment industry at the China e-commerce finance and payment industry development conference. In 2006, YeePay won several award such as “Best payment platform” at the E-commerce fortune annual meeting, “most reliable e-payment brand” at the 2006 e-payment application summit, “e-payment innovation award” at the e-payment Forum, and “e-business trust enterprise award” at the 9th e-commerce conference.

For more information about YeePay, please visit http://www.yeepay.com.