Chinese mobile application enabler Trunkbow International Holdings has signed a strategic partnership agreement with China Telecom's subsidiary Tianyi e-Commerce.

Under the agreement, Trunkbow will provide marketing, application development, and support services for the Bestpay m-payment application, which was rolled-out to China Telecom's 3G subscribers in August this year. Trunkbow will receive revenues from the Bestpay application on a per-transaction basis, according to government-stipulated terms that vary by industry, and range from 2-4 percent of the gross value of the end-user's total transaction.

In addition, the company will receive individual commission payments from specific merchants for sales generated through the Bestpay application. Bestpay is already activated on 300,000 handsets and has processed CNY 6 million in transactions.