Press release


CRD has been licensed by the Chinese government to develop online gaming, digital media and e-sport, among other things. CRD forms part of a comprehensive Chinese investment in online entertainment, which already includes cooperative ventures between 138 companies and is worth around one billion yuan (approximately 920 MSEK). Through its position and government licences, CRD is expected to develop and offer the entire local Chinese market an effective financial infrastructure with payment solutions for online and offline transactions that encompass new methods of handling the Chinese Renminbi currency. According to CRD, the Chinese market for electronic payments is estimated to amount to the equivalent of 33 billion SEK during 2006, and is expected to grow to the equivalent of 280 billion SEK during 2010.It is intended that Paynova will form part of CRD’s financial network, together with China Everbright Bank and Standard Chartered Bank, and the aim is for Paynova to equip CRD’s network for foreign currency payments, payment services for CRD’s international operations and transactions involving the virtual convertible currency DOT. The agreement with CRD includes immediate implementation of Paynova’s payment service via CRD’s platform Dotman, and constitutes the first stage of a planned expanded cooperation that is also intended to cover the development of new services for CRD. Paynova will offer CRD’s services outside China and CRD will offer Paynova’s services to Dotman’s Content Providers, Service Providers and other user groups.“The partnership with CRD is an important step in Paynova establishing itself on the Chinese market for payments within online gaming. Over half the global market for online gaming is already there – developers and publishers in the industry can no longer ignore the Chinese market. This partnership considerably strengthens Paynova’s position within the online gaming segment,” says Karl Alberts, sales and marketing manager at Paynova. The vigorous campaign currently being conducted by the Chinese government and CRD is aimed at a billion TV consumers, 350 million mobile phone users, 100 million Internet users and 35 million gamers. For more information on CRD, visit and FURTHER INFORMATION, PLEASE CONTACT: Karl Alberts, Sales and Marketing Manager+46 70 3355326ABOUT PAYNOVAPaynova offers an international, account-based payment service via the Internet. With Paynova as the only counterpart, e-retailers get a payment guarantee for around twenty payment options in 10 languages with 8 currencies in a security-certified interface (PCI). Consumers can open an account, a Paynova Wallet, for free on the Internet to make purchases simpler and more secure, as well as look after transfers between family members, friends and acquaintances. Paynova has agreements with around 1,000 e-retailers. Most are found in the following prioritised segments: travel, retailing and media/network games. The company has been listed on NGM Equity since February 2004. For more information: