What Winner does

Winner (legal name: 陕西维纳数字科技股份有限公司 / Shaanxi Winner Digital Technology Co., Ltd., NEEQ ticker 维纳股份, code 839006, subsequently delisted) is a Xi'an-headquartered digital payments and marketing solutions provider focused on the vehicle refueling scenario. Founded in 2007 and built around an NUI (Natural User Interface) technology stack, the company operates the 佰付美 (Baifumei) mobile payment application and the 去加油 (Qu Jiayou) service, which enables drivers to order, pay for, and receive electronic invoices for fuel without leaving the car. The platform accepts UnionPay, WeChat Pay, Alipay, Apple Pay, JD Pay, and bank cards, and uses a token-based payment mode that bypasses re-entry of cardholder information after first binding.

The company monetizes through three streams: (1) transaction fees on fuel, dining, and other consumer payments processed via the Baifumei platform; (2) marketing service fees from B-end partners — primarily oil enterprises and financial institutions — who fund discount campaigns targeted at vehicle owners; and (3) platform services and data analytics sold to merchant partners. Distribution is anchored by an H5/API integration model that embeds Winner services into partner applications (banking apps, WeChat public accounts, telecom wallets) and by a network of smart POS terminals deployed at non-fuel merchants. Strategic B-end partners include CNPC, Sinopec, and Shell on the oil side, and ICBC, China Construction Bank, Agricultural Bank of China, Bank of China, Postal Savings Bank, Ping An Insurance, China Mobile, and China Unicom on the financial/telecom side. Operationally, Winner covers 20+ provinces, 20,000+ gas stations, 10,000+ merchant partners, and 10 million+ cumulative service users.

Beyond fuel payments, the company has expanded the 商+ (Merchant+) platform — a B-end commerce solution bundling payments, marketing tools, and partner services — and in 2023-2024 launched the 维纳氢能 subsidiary to build a national hydrogen energy logistics platform, with a new operations hub opened in Fengdong New City in March 2024. The company was listed on China's NEEQ (New Third Board) in September 2016 under the predecessor name 陕西维纳传媒股份有限公司; this listing has since been delisted per current firmographic status. Three disclosed funding rounds totalling roughly $34M (2015, 2018, 2020) were led by Similan Group, DT Capital Partners, and CNPC Capital respectively.

Name

Winner

Legal name

陕西维纳数字科技股份有限公司

Website

https://epaynfc.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

251–500 employees

Short description

Winner is a Xi'an-based digital payments and marketing platform that enables vehicle owners to refuel, pay, and receive electronic invoices without leaving their cars, connecting 20,000+ gas stations and 10,000+ merchants across 20+ Chinese provinces with oil majors, banks, and telecom operators.

Ownership category

akta.pro rank

Product category

Mobile Payment Platform

NAICS

Fuel Dealers (4572)

SIC

Transportation Services (4700)

akta.pro primary industry

Fuel Card & Fleet Payment Programs (TLABAMAA)

akta.pro secondary industries

Fuel Management & Fleet Card Programs (THADAKAH), Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE), Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB)

Keywords

• Mobile payment platform
• Fuel payment solutions
• Digital marketing services
• Intelligent POS terminals
• Merchant SAAS systems

Headquarters

HQ city

Xian Shi

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Transaction Fee Revenue: Winner generates revenue through transaction fees from fuel payments, dining payments, and other消费 scenarios processed through the 佰付美 platform. Merchants pay a percentage of each transaction processed.
2. Marketing Service Revenue: Provides marketing tools and promotional services to B-end partners (oil companies, banks, insurance companies). Partners pay for marketing campaigns, coupon distribution, and promotional activities to attract and retain customers.
3. Platform Services and Data Support: Offers technical support, data analytics, customer service, and operational support services to merchant partners, creating additional revenue streams through service fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Winner operates a digital payment and marketing platform whose core scenario is internet-based refueling. Through its 佰付美 mobile application and the proprietary 去加油 (Go Refuel) service, drivers pay for fuel, receive electronic invoices, and access bank-funded discounts without leaving their vehicles. B-end partners integrate the platform via API and H5 embedding to deliver fuel scenarios inside their own apps, while merchants use intelligent POS terminals and a SAAS management system for operations.

Product overview

Winner (维纳股份) operates as a digital marketing solutions provider with a multi-product ecosystem centered around the 佰付美 mobile payment platform. The core offering includes the 去加油 in-car refueling service that allows users to complete fuel purchases without leaving their vehicles, supported by intelligent POS terminals and SAAS management systems for merchant partners. The product portfolio extends through the 商+ strategic platform integrating payment processing, marketing tools, and multi-industry partnerships (banking, insurance, telecom), while 维纳氢能 expands into hydrogen energy logistics services. Together, these products form an integrated payment and marketing ecosystem covering fuel, dining, entertainment, and daily services.

Differentiator

Problem solved

Functional benefit

Brands

• 佰付美: Main mobile payment application offering fuel payment, dining, entertainment, and lifestyle services with bank card integration and marketing campaigns
• 去加油
• 维纳氢能
• 商+

Products and services

• 佰付美 (Baifumei) Mobile App Mobile payment application integrating bank accounts and communication accounts, offering QR code payment, online payment, electronic coupons, points, and discounts at participating merchants including fuel stations, restaurants, and supermarkets. Targeted at individual consumers (vehicle owners).
• 维纳宝 (Weina Bao) Mobile App Mobile payment application similar to 佰付美, providing payment and marketing services to individual consumer users across fuel, dining, entertainment, and lifestyle scenarios.
• 智能POS机 (Intelligent POS Terminal) Smart point-of-sale terminal supporting bank card swiping, contactless payment, and mobile payment, integrated with the 佰付美 platform for merchants to accept payments and manage operations. Sold/deployed to merchant locations.
• SAAS管理系統 (Merchant SaaS Management System) Software-as-a-service management system providing fuel stations with convenient payment collection, smart operational management, and internal process optimization. Targeted at gas station operators and other merchant partners.
• 商+ (Shang+) Merchant Platform Strategic product platform integrating payment processing, marketing tools, banking partnerships, insurance industry connections, and telecom operator services into a comprehensive merchant solution. Targeted at B-end merchants seeking multi-resource commercial enablement.
• 维纳氢能 (Winner Hydrogen Energy) Hydrogen energy comprehensive operation service provider positioned to build a national hydrogen logistics transportation platform, offering hydrogen energy transportation capacity, management services, and hydrogen source sales. Targeted at the broader hydrogen energy and logistics industry.

Quantifiable outcome

• Reduced refueling time through one-click payment without leaving vehicle
• +2 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature5 records

Partnerships

15 partnerships are on record, tiered core, major and minor.

• China Petroleum (中国石油)coreStrategic or Co-development PartnerMajor oil partner providing fuel station network access. Winner integrates with CNPC stations for fuel payment processing and promotional campaigns.
• Sinopec (中国石化)coreStrategic or Co-development PartnerStrategic fuel partner with extensive station coverage across multiple provinces for payment integration.
• Extended Shell (延长壳牌)coreStrategic or Co-development PartnerPremium fuel brand partner offering exclusive promotions and discounts through the Winner platform.
• China UnionPay (中国银联)coreTechnology or IntegrationPayment infrastructure partner providing UnionPay channel for secure payment processing. Winner integrates UnionPay's network for transaction handling.
• China Construction Bank (中国建设银行)majorGTM or Marketing PartnerBanking partner providing co-branded credit card promotions and fuel discount campaigns for mutual customer acquisition.
• Agricultural Bank of China (中国农业银行)majorGTM or Marketing PartnerDigital payment fuel discount campaigns and promotions targeting vehicle owners.
• Postal Savings Bank of China (中国邮政储蓄银行)majorGTM or Marketing PartnerExtensive promotional campaigns including fuel coupons and discount redemptions across branches.
• Ping An Insurance (中国平安)majorStrategic or Co-development PartnerNational strategic cooperation for automotive insurance integration. Winner platform integrated with Ping An's Haoyanche app for joint services.
• China Unicom (中国联通)coreStrategic or Co-development PartnerStrategic partnership as 'WOPay战略合作伙伴' providing third-party payment authorization and joint electronic coupon business.
• China Mobile (中国移动)majorTechnology or IntegrationOperator partnership for payment integration with mobile billing systems.
• Industrial Bank (兴业银行)majorGTM or Marketing PartnerJoint promotions for fuel discounts and entertainment spending campaigns.
• Bank of Beijing (北京银行)minorGTM or Marketing PartnerRegional banking partnership for payment and promotional services.
• Guangfa Bank (广发银行)minorGTM or Marketing PartnerCo-branded promotions targeting credit card holders for fuel and dining discounts.
• Huaxia Bank (华夏银行)minorGTM or Marketing PartnerFuel discount campaigns for credit card holders in specific regions.
• Dadi Insurance (大地保险)minorStrategic or Co-development PartnerInsurance industry resource partnership for automotive insurance integration.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• 团油 (TuanYou / Full Truck Alliance Energy): Chinese digital fuel platform operated within the Full Truck Alliance ecosystem, serving fleet operators and truck drivers with fuel discounts and station routing. Directly comparable to Winner's fuel payment and marketing model for vehicle owners, with similar reliance on partner station networks and B-end marketing budgets.
• 车主邦 (Chezhubang): Chinese digital energy service platform providing refueling and EV charging payment and discount services to vehicle owners via a partner station network. Highly comparable to Winner's 佰付美 platform in product, target customer and merchant-network-driven business model.
• 能链 (EnLink): Digital energy platform aggregating fuel and charging stations across China, serving both consumer and fleet customers with payment, discounts and SaaS tools. Closely matches Winner's combination of station-side B2B SaaS, consumer-side payment app and embedded H5 distribution.
• WEX Inc. U.S.-listed global fleet payment and fuel card company serving commercial fleets with fuel, maintenance and payment programs. Functionally comparable to Winner's fleet-adjacent fuel payment offering, though operating in a much larger and more mature fleet card market.

Emerging players

• 易加油 (EasyFuel / Yi Jiayou): Mobile-first digital fuel payment and discount platform in China targeting individual vehicle owners. Comparable to Winner's consumer-facing fuel payment app, though typically with smaller station coverage and a narrower regional footprint.
• Fleetio: SaaS fleet management platform that includes fuel purchase tracking, card programs and merchant integrations. Comparable to Winner's SaaS layer for merchant partners (SAAS system) and adjacent to its fuel payment scenario services.
• P97 Networks: Mobile commerce and digital payments platform purpose-built for fuel and convenience retail, integrating with major oil brands. Comparable to Winner's token-based fuel payment scenario and embedded payment integrations at the pump.

Broad incumbents

• Sinopec 易捷 (Easy Joy): Convenience retail and digital service subsidiary of Sinopec, integrated into the largest fuel station network in China. Represents the in-house incumbent answer to Winner-style digital payment and marketing layers; directly competes with Winner's 佰付美 platform at Sinopec stations.
• 中石油昆仑加油卡 (CNPC Kunlun Card): State-backed fleet and consumer fuel card program operated by CNPC, the largest oil major in China and a Winner partner. Comparable as a digital fuel payment and marketing program, though vertically integrated with CNPC's own station network rather than multi-brand.
• Alipay (Ant Group): Dominant Chinese third-party payment platform accepted at essentially all fuel stations. Functions as an indirect competitor by commoditizing the payment-rail layer that Winner wraps, and increasingly competes via in-app mini-programs for fuel discounts and merchant marketing.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Winner