company update

30 January 2012
ASX ANNOUNCEMENT
SmartTrans & Zhenya Group in final negotiation to launch www.MyLifeOnline.cn
SmartTrans is in advanced contract negotiations with internet entrepreneur Zhenya Tsvetnenko’s Zhenya Group of Companies to establish a company in Hong Kong which will be owned equally and which will provide Internet and Mobile Telephone software services to consumers in the People’s Republic of China.
Under the contemplated arrangement, products and services delivered from SmartTrans’ www.MyLifeOnline.cn website will be available to and marketed to all Internet and mobile telephone users in China.
The two parties have successfully completed the development and deployment of the MyLifeOnline web site with integrated payment services and the proposed jointly owned company will take advantage of SmartTrans’ billing agreements with China Mobile’s CMPay and the interbank Internet payment system operated by China UnionPay.
SmartTrans has completed development of its billing Application Program Interface (API) incorporating China Mobile’s CMPay and China Unionpay payment methods with an SMS content delivery platform in an application which will be available to third parties seeking to bill customers in China.
SmartTrans’ billing platform allows for China Mobile telephone users to buy SmartTrans’ and third party products and services on their mobile telephones and over the internet and pay via their China Mobile CMPay account.
The billing platform also allows users of all telecommunication providers in China to pay direct from their Chinese bank account.
Under the arrangement, expected to be settled shortly, Mr Tsvetnenko will provide his innovative internet marketing techniques and industry experience to maximise take up of the MyLifeOnline product by Chinese internet and mobile telephone users.
The arrangement will also enable other companies to charge for their products and services in China.
Mr Tsvetnenko (http://about.me/zhenyatsvetnenko) is an internet entrepreneur who pioneered advertising on the Google content network on which he reportedly built a campaign delivering 22 billion views of advertisements (http://au.linkedin.com/in/zhenyatsvetnenko) and which, he advises, delivered 8,500,000 subscribers world-wide for premium mobile service.
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