SOURCE: Amico Games Corp.

May 21, 2010 16:00 ET

Amico Games Corp. Extending New Payment Channel

GUANGZHOU, CHINA--(Marketwire - May 21, 2010) -  Amico Games Corp. (OTCBB: AMCG), an information technology company specializing in developing and operating cell phone multiplayer networked games, today announces that the company will be implementing a payment channel called YeePay. This new payment channel will enable the company's cell phone game subscribers to pay through Internet, Fixed Line Telephone, and Mobile phone conveniently, as well as decrease the company's payment channel costs from 5% to 1%.

Currently, the company's cell phone game subscribers pay for cell phone games by Q-coin, short message, and mobile phone rechargeable card. Once YeePay is fully integrated into the company's payment system, subscribers will be able to pay for Amico's games through the Internet, their mobile phone, fixed-line telephone, and electric banking system. In the past, the company's subscribers mainly paid for games through message and mobile phone rechargeable cards, which charged 5% of payment channel costs to Amico, whereas the electric banking system only charges 1% as payment channel costs.

YeePay will now provide Amico game users an integrated payment platform that enables Amico to receive game users' payments through Internet, mobile or telephone securely, conveniently and cost-effectively.

YeePay has formed strategic partnerships with major banks and carriers. Their virtual payment network connects all the major banks, carriers and merchants, allowing online and offline users to make payments anywhere, anytime, saving time and money and enhancing payment options for Amico game users.

"We have always been trying to extend our payment collection options in order to reach more clients in a cost effective way," stated Mr. Peter Liu, CEO and President of AMCG. "After integrating with YeePay, we are also capable to eliminate bad debt as we no longer have to rely on delayed payment systems such as the rechargeable cards and short message payments. Together with convenient payment methods and a reduction in costs, we hope that this directly results in increased profits."

About Amico Games Corp.
Amico Games Corp. is a software company specializing in developing mobile phone games for the Chinese market. On December 31, 2009, Amico acquired Galaxy Software Limited, a Chinese private-owned company incorporated in November 2001. Galaxy is one of the earliest mobile phone multiplayer game developers in China, as well as one of the first Chinese company to develop and operate Java™ MMRPOG (massive multiplayer role playing online games) mobile phone games. It is also the first company to provide multiplayer games over the WAP platform of China Mobile, the world's largest mobile phone provider based upon subscribers. Further information on the Company can be found at www.sec.gov and at the company's website at www.amicogames.com

Safe Harbor Statement
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to Amico or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of Amico's products, the competitive environment within the industry, the ability of Amico to continue to expand its operations, the level of costs incurred in connection with Amico's expansion efforts, economic conditions in the industry and the financial strength of Amico's customers and suppliers. Amico does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

Contact Information

  • Contact
    Investor Relations Office
    Tel: 1-877-331-8777
    Email: info@amicogames.com

    201 Spear Street, Suite 1100
    San Francisco, CA 94105
    USA