Datasea Enters Into an Agreement with Zhejiang Kecai to Provide Smart Consumptive Payment Services ACCESSWIRE 2020-12-18 NEW YORK, NY / ACCESSWIRE / December 18, 2020 / Datasea Inc. (NASDAQ:DTSS) ("Datasea"), a technology company engaged in providing smart security solutions, smart hardware and education- related technologies in China, announced today that it entered into an agreement to provide smart consumptive payment services with Zhejiang Kecai Technology Transformation Services Ltd. ("Zhejiang Kecai"). Under the terms of the agreement, Datasea's smart consumptive payment services include providing hardware equipment, performing regular maintenance, and installing software and payment interfaces for Zhejiang Kecai in exchange for 0.25% of the value of transactions that utilize Datasea's consumptive payment services. According to the agreement, the annual transaction value projected by Zhejiang Kecai is RMB 250 million (approximately USD $38 million). If and to the extent Zhejiang Kecai generates such transaction value, Datasea estimates that its annual earning potential under this agreement could be approximately RMB 625,000 (approximately USD$95,630). The term of the service agreement is five years.