Cao Zhen

    caozhen0806@126.com

    SF Express, China’s leading delivery service company, launched an innovative mobile payment system in collaboration with China Citic Bank on Tuesday.

    By using the newly introduced CITIC SF app, which is available on iOS and Android systems, users can get a 5-10 percent discount when paying for express delivery fees.

    The app allows users to link it with a Citic Bank credit card, which can then be used to top up mobile phone balances, buy Citic Bank wealth management products and buy products at SF’s online shopping store, SFBuy.

    The system is designed to meet the consumption demands of China’s online shoppers and to provide more convenient services for express delivery customers.

    China has witnessed a boom in the express delivery market in recent years. The industry is fragmented, marked by price wars.

    Revenue for China’s express delivery businesses soared by 42 percent last year to US$33 billion, leading the world in the number of deliveries last year, according to China’s State Post Bureau website. The industry has benefited from the rapid growth of online commerce in the country.