OREANDA-NEWS. May 21, 2013. At the earlier Asian Banker's "Excellence in Retail Financial Services Awards 2013", ICBC's "ICBC e Payment" has been named Best Payment Product in China 2013, the only payment product from a bank to win the award.

"ICBC e Payment" is a new ICBC online payment service. Once registered, users can conveniently make small payments for online shopping, paying bills, transferring or remitting money via Internet Banking or Mobile Banking. Thanks to its convenience and reliability, "ICBC e Payment" has gained wide acceptance in the market since its launch in October, 2011. Currently thousands of e-commerce merchants across the country accept online payment through "ICBC e Payment". During the first quarter this year, number of online payments via "ICBC e Payment" and transaction volume surged significantly, nearly doubled when compared to the same period last year. Further more, ticketing websites of railways and airline companies all offer "ICBC e Payment" service for passengers to buy and pay train/airline tickets easily.

It is easy to register and open "ICBC e Payment". Customers can sign up for the service at ICBC web portal or during B2C payment, use "mobile phone number + last 6 digits of bank account number + dynamic password" for identification and completion of small online payment. Customers who have ICBC accounts (debit card, credit card or passbook) and have offered the bank their mobile phone numbers can sign up online and use "ICBC e Payment" service, and there is no need for them to  sign up for Internet Banking, apply for USB-Shield or install any ActiveX and driver.

Industry insiders said, with "ICBC e Payment" customers can complete the payments either in ICBC payment webpage or in merchant's webpage. Moreover, "ICBC e Payment" is very safe. Registration and payment authentication are handled directly by ICBC system, and the customer information is also inputed by the bank. All SMS with mobile dynamic passwords are directly sent by ICBC SMS Banking service No. 95588 for effective identification. Moreover, the mobile dynamic password is binding with the transaction factor, one password one transaction for higher security. When signing up for the service, customers have the option to set the reserved verification information for identification of fraudulent payment webpage. Other unique features of "ICBC e Payment" such as account alias and payment limit adjustment are used to reduce risk to the minimum.

Asian Banker hosts the "Excellence in Retail Financial Services Awards" every year since 2002. The "Best Payment Product Award" is presented to banks in Asia Pacific, Central Asia, Gulf Region and Africa, which offer excellent payment products that is consistent with the lifestyle needs of the target customers.