SHANGHAI, China, September 17, 2013 -- Sino Payments, Inc. (SNPY) a technology company providing Internet Protocol transaction processing services in the retail industry, today announced that following the recently announced merger of Sino Payments and TAP Investments Group (“TAP”), Zhao Heng Computer Technology (Shanghai) Co. Ltd., a TAP wholly owned subsidiary, has signed a contract with existing client, a world leading health and beauty retail giant. The USD 1 million contract is for the provision of system upgrade services to the retailer’s 1800 outlets in the People’s Republic of China for the next twelve months.
TAP Investments Group and Sino Payments have completed the merger in April 2013. As from the date of conclusion of merger, all TAP activities, including this new contract, will be folded into the post-acquisition financial results of SNPY in 2013.
This is the first new sizable contract to be announced under the newly combined Sino Payments (TAP included into and combined into the existing Sino Payments).
Matthew Mecke, CEO of Sino Payments, Inc. proclaimed, “We are excited to announce this first large project signed by our merger partner TAP. TAP has a great deal of experience and a large retail footprint in Asia and particularly in the Greater China region with several current and future projects. We hope to be able to enter into these lucrative markets and serve many more such projects in the coming months.”
Kenneth Tan, CEO of TAP Group stated, “This new contract with our valued long term client, one of the world’s largest retail conglomerates, is a great milestone for us here at TAP. Such coverage is critical to the success of our core business model, which has maintained a strong foothold in China. Our efforts have been recognized in our client’s selection for this contract and we are confident that we will continue to provide top quality services and on time delivery in this project. We hope this allows us even better positioning to play a leading role in the ever-expanding Chinese market.”
About TAP (www.tap-group.com.cn)
TAP is a leading provider of customer-centric solutions for the retail industry. By integrating market-leading Point-of-Sales/Point-of-Interaction (POS/POI) and retail CRM solutions, TAP provides retailers with the capability to offer a consistent shopping experience across all channels, at all times, enabling them to easily and effectively manage the customer lifecycle on a one-to-one basis.
TAP is headquartered in Hong Kong with offices in Macau, Shenzhen, Guangzhou, Shanghai, Beijing, and Manila with over 200 staff.
About Sino Payments, Inc. (www.sinopayments.com)
Sino Payments is a US public company with registered office in Hong Kong. Sino Payments focuses on providing IP credit and debit card processing services to large retail chains, including supermarket chains and large regional multinational retailers, in China and throughout Asia. Sino Payments has agreed with TAP to merger TAP operations and financials into Sino Payments with an expected merger close and full consolidation as of April 3, 2013.
Sino Payments, Inc.
Chairman & CEO
T 1.877.205.6270 x801
SOURCE Sino Payments, Inc.