OREANDA-NEWS. January 06, 2012. Recently, Easternpay gains payment business license issued by People's Bank of China and becomes Chinese industry's first third-party online payment institution.

Easternpay Information & Technology Co., Ltd. is sponsored by Bsteel and established in March last year. It is dedicated to providing steel and related industries' business e-commerce with safe, efficient third-party comprehensive electronic payment. The service includes recharge, payment, cashing, secured transaction and margin trading and will help promote the company's cash flow, business flow and synchronization of logistics operations and improve overall supply chain efficiency.

Baosteel has many years of exploration and accumulation in steel and related industries' e-business application and Bsteel has many years of practical experience in large-scale manufacturing industry third-party centralized shared e-commerce solution. Relying on Bsteel, Easternpay combines steel, coal and chemical manufacturing industries' characteristics and carries out in-depth analysis of B2B payments market and does a lot of practices. Easternpay has already had the capability of enterprise comprehensive electronic payment solution. In addition, relying on Baosteel's supply chain management system, it builds a supply chain online financing platform and provide Baosteel's upstream and downstream traders with financial support.

The gaining of the license lays foundation for Easternpay's further business develop. In the next phase, Easternpay will continue with innovative payment and financing business model. Through the supply chain value-added service, it will connect upstream and downstream industry and improve service level.