Pay88, Inc. (PAYI.OB) Takes First Step to Becoming Online Supermarket of Financial Products and Services

BARNSTEAD, N.H. and CHONQING, China, Nov. 9 /PRNewswire-Asia-FirstCall/ -- Pay88, Inc. (OTC Bulletin Board: PAYI - News) announced today that it has signed an LOI with Chongqing Kai Yuan investment Co. marking Pay88's first step toward achieving their goal of becoming China's online supermarket of financial products and services. Chongqing Kai Yuan Investment Co. is a niche financial services firm that provides micro-loans to small enterprises throughout Chongqing, a municipality of more than 31 million people, and the third fastest-growing regional economy in China. Kai Yuan Investments reported a net profit of $1.6 million USD in 2008.Pay88, is already the leading reseller of internet game time in China's booming $2.75 billion online video game market. The company sells online multiplayer game time and prepaid cards in more than 20 cities in China and has already successfully captured more than 80% of the online multi-player game time market in Chongqing. Pay88 also markets prepaid telephone cards and over 800 software products, including cooking, language and education software. Adding financial products and services to their menu of offerings, company officials say, is a natural and a powerful step forward in the company's goal to become the premier online provider of consumer products and services throughout China.The agreement with Chongqing Kai Yuan will soon make it possible for new clients to use Pay88's platform to apply for loans online. In addition, it will allow current clients to register, maint...
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Pay88, Inc. (PAYI.OB), Goes Mobile With Sohu.com Inc.

BARNSTEAD, N.H. and CHONGQING, China, Oct. 27 /PRNewswire-Asia-FirstCall/ -- Pay88, Inc. (OTC Bulletin Board: PAYI - News) announced today that it has entered into a distribution agreement with Sohu.com Inc. (Nasdaq: SOHU - News). Through its subsidiary, Qianbao Technology, Pay88 will act as a distributor of SOHU digital products, with a particular focus on mobile phone games. With more than 100 million users and 700 million site visits per day, Sohu.com Inc., is one of the leading internet media companies in China with revenues of over $429 million USD in 2008, 2.3 times that of .scal 2007. Sohu provides millions of Chinese consumers with information, communication and entertainment services through its matrix of websites and offers two types of consumer services -- online games (including the massively popular multi-player online role-playing games "Tian Long Ba Bu" and "Blade Online"), and wireless connectivity.Pay88 is one of the few companies in China capable of facilitating online banking and is also the leading reseller of internet game time in China's booming $2.75 billion online video game market, selling online multiplayer game time and prepaid cards in more than 20 cities in China. The ...
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Pay88, Inc. (PAYI.OB) Teams Up With Alibaba.com Ltd.

BARNSTEAD, N.H. and CHONGQING, China, Oct. 26 /PRNewswire-Asia-FirstCall/ -- Pay88, Inc. (OTC Bulletin Board: PAYI - News), announced today that it has entered into a distribution agreement with Alibaba.com Limited (HKSE: 1688.HK). Through its wholly-owned subsidiary Qianbao Technology, Pay88 will act as a distributor for Alibaba in Chongqing and the greater southwestern regions of China where Pay88 has an already-established network of users. Alibaba.com Limited (HKSE: 1688.HK) is the world's largest marketplace for global trade and the leader in business-to-business (B2B) e-commerce with more than 42 million registered users from more than 240 countries and regions. Alibaba.com also offers business management software solutions targeting small businesses across China under the "Alisoft" brand, connecting Chinese manufacturers to other companies around the world looking for suppliers. The company has a market capitalization of over $64 billion USD and reported earnings in 2008 of RMB 3.0 billion (approximately $440 million USD), an increase of 39% over 2007. According to iResearch, it was the largest online B2B company in China in 2006, based on the number of registered users and its market share in China by revenue. Alibaba.cn, the company's Chinese site, currently has 32 million registered users.Guo Fan, Chairman and President of Pay88, commented on the new agreement saying, "Pay88's diverse distribution channels and strong presence in Chongqing and the southwest regions of China offer a unique opportunity to utilize...
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Pay88, Inc. Upgrades Payment Platform

BARNSTEAD, N.H. and CHONGQING, China, Sept. 21 /PRNewswire-Asia-FirstCall/ -- Pay88, Inc., a rapidly growing digital technology company that offers its own payment platform and is a reseller of online multiplayer game cards and internet game time in China, announced today that it will be upgrading its payment platform to meet the rising needs of its customers. In this upgrade, two specific objectives have been delineated. First is the upgrade to the pc-based payment platform that will allow for easier use for Pay88's customers. Secondly, Pay88 will be adding the ability to utilize the payment platform for use via cell phone.Guo Fan, Chairman and President, Pay88, said, "By upgrading our payment platform, our customers will now have the ability to access and pay for products in easily wherever they may be.Tao Fan, COO of Pay88 added, "These technological improvements will please both our users as well as our current strategic partners. These Upgrades will strengthen Pay88 for the future."About Pay88, Inc.Pay88, Inc., through its wholly owned subsidiary Chongqing Qianbao Technology, Ltd., is a leading reseller of online multiplayer game time in China in more than 20 cities. The Company has successfully captured the leading market share of online multiplayer game time in Chongqing, a municipality of more than 31 million people that is the third fastest-growing economy in China and the gateway to central and western China. Pay88 leverages such consumer establishments as retail kiosks and Internet cafes to increase its distribution of highly popular games for an increasing number of gaming companies. Over the next year, the Company will continue to develop and improve its Internet gaming platform, expand its distribution Web sites, and increase its overall product line, as well as expand into many additional cities in China....
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PAY88 Financials

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PAY88 Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Forward-Looking Statements The following discussion should be read in conjunction with our unaudited condensed consolidated financial statements, which are included elsewhere in this Form 10-Q (the "Report"). This Report contains forward-looking statements which relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The following discussion should also be read in conjunction with our audited consolidated financial statements and Form 10-K filed on March 30, 2009. Although Qianbao is a subsidiary of Pay88, the acquisition of Qianbao by Pay88 that was consummated on September 5, 2006 has been treated as a reverse merger of Qianbao. This means that Qianbao is the continuing entity for financial reporting purposes. Corporate Background Pay88 was incorporated on March 22, 2005 under the name "Pay88, Ltd." in the State of New Hampshire. We subsequently decided to reincorporate in the State of Nevada by merging with and into Pay88, Inc., a Nevada corporation formed for such purpose on July 7, 2005. Such merger was effectuated on August 9, 2005. Through our wholly-owned subsidiary, Chongqing Qianbao Technology Ltd. (...
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PAY88 Files SEC form 10-Q, Quarterly Report

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Forward-Looking Statements The following discussion should be read in conjunction with our unaudited condensed consolidated financial statements, which are included elsewhere in this Form 10-Q (the "Report"). This Report contains forward-looking statements which relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. The following discussion should also be read in conjunction with our audited consolidated financial statements and Form 10-K filed on March 30, 2009. Although Qianbao is a subsidiary of Pay88, the acquisition of Qianbao by Pay88 that was consummated on September 5, 2006 has been treated as a reverse merger of Qianbao. This means that Qianbao is the continuing entity for financial reporting purposes. Corporate Background Pay88 was incorporated on March 22, 2005 under the name "Pay88, Ltd." in the State of New Hampshire. We subsequently decided to reincorporate in the State of Nevada by merging with and into Pay88, Inc., a Nevada corporation formed for such purpose on July 7, 2005. Such merger was effectuated on August 9, 2005. Through our wholly-owned subsidiary, Chongqing Qianbao Technology Ltd. (&...
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PAY88 Files SEC form 10-K, Annual Report

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation Management's Discussion and Analysis of Financial Condition and Results of Operation The following discussion should be read in conjunction with our consolidated financial statements and notes thereto included in this report. All information presented herein is based on our fiscal years ended December 31, 2008 and 2007. Although Qianbao is a subsidiary of Pay88, the acquisition of Qianbao by Pay88 that was consummated on September 5, 2006 has been treated as a reverse merger of Qianbao. This means that Qianbao is the continuing entity for financial reporting purposes. Plan of Operation Through our subsidiary, Qianbao, we will continue to focus over the next twelve months on developing our internet distribution platform on Qianbao's websites and increasing the volume of our sales of multi player online game cards on such websites. Qianbao will continue to focus on developing its websites, www.iamseller.com and www.17logo.com and to build other internet websites on which it will operate a distribution platform through which we will be able to offer products for sale to consumers or retailers located in the other provinces of China. Qianbao will continue its efforts to arrange for suppliers to offer for sale on such website the following products: prepaid multiplayer online game cards, which allow the holder thereof to play, for the allotted time, online internet games. We also offer for sale prepaid study cards, which allow the holder thereof to use, for the allotted time, online software that assists in the learning of various subjects including Chinese, English and cooking. We have formal arrangements with the following manufacturers to supply us with products to be sold on Qianbao's website: Shandong Tianfu Online Platform (supplier of game cards); Golden game (supplier of game cards); 51points (supplier of game cards); Optisp Communication (supplier of game cards): Si...
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PAY88 Files SEC form 10-K/A, Annual Report

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operation The following discussion should be read in conjunction with our financial statements and notes thereto included in this report. All information presented herein is based on our fiscal year ended December 31, 2007. Although Qianbao is a subsidiary of Pay88, the acquisition of Qianbao by Pay88 that was consummated on September 5, 2006 has been treated as a reverse merger of Qianbao. This means that Qianbao is the continuing entity for financial reporting purposes. Plan of Operation Through our subsidiary, Qianbao, we will continue to focus over the next twelve months on developing our internet distribution platform on Qianbao's websites and increasing the volume of our sales of multi player online game cards on such websites. Qianbao will continue to focus on developing its websites, www.iamseller.com and www.17logo.comand to build other internet websites on which it will operate a distribution platform through which we will be able to offer products for sale to consumers or retailers visiting such websites. Qianbao will continue its efforts to arrange for suppliers to offer for sale on such website the following products: prepaid multiplayer online game cards, which allow the holder thereof to play, for the allotted time, online internet games. We also offer for sale prepaid study cards, which allow the holder thereof to use, for the allotted time, online software that assists in the learning of various subjects including Chinese, English and cooking. We have formal arrangements with the following manufacturers to supply us with products to be sold on Qianbao's website: Shandong Tianfu Online Platform (supplier of game cards); Golden game (supplier of game cards); 51points (supplier of game cards); Optisp Communication (supplier of game cards): Sifang Online Distribution Platform (supplier of game cards); Chongqing Taoxing (supplier of study cards); and Chongqing Dezheng Tech...
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