HONG KONG, CHINA - October 21, 2013 - Sino Payments, Inc. (OTC Pink: SNPY) (http://www.sinopayments.com/), a technology company providing proprietary IP transactions processing services to the retail industry, is pleased to announce that, following the recently announced merger with TAP Investments Group, they have entered into preliminary merger discussions with the shareholders of Value Exchange International Ltd (VEI). VEI is a leading retail technology company incorporated in Hong Kong. It focuses on its flagship mobile Stored Value Card solution (mSVC) that converts physical cards and offers into virtual media.
SNPY's subsidiary company, TAP, has a strong customer base in the Point-of-Sale (POS) and retail CRM market in Greater China. The merger of SNPY and VEI will add new value to the TAP Group POS services by enhancing the functionality of the overall retail business model.
By integrating VEI's expertise in mSVC to existing POS users, this merger offers significant potential to harmonize the operations of all related entities. The retail business partners are expecting to benefit from greater efficiency and significantly increase their market share from these integrated services.
The merger of SNPY and VEI plans to take place within the next few months. Ultimately, the management team of SNPY has confidence that this merger with VEI will deliver significant value to its stakeholders. With the partnership, the payments processing company seeks to expand its presence in China's fast-growing market.
Matthew Mecke, CEO of Sino Payments, Inc., proclaimed, "We are both confident that today's decision to investigate the merger of these two organizations provides momentum for a major step forward in the evolution of intelligent devices and the world of retail technology. SNPY has enjoyed a long and successful relationship with VEI's related company TAP and such a merger with VEI will help SNPY's continuous transformation into a prime IT solutions provider in the Asia Pacific and Greater China region. Partnering with VEI will only enhance our ability to provide top quality services to our current and future customers."
Kenneth Tan, CEO of TAP Group and VEI, stated, "We are constantly looking for opportunities to enhance our developments, boost our product portfolio's marketability and improve our competitive landscape. The merger between SNPY and VEI will consolidate a best-in-class payments processing service provider with an experienced management team and the pioneer in mobile Stored Value Card solution to create an even more direct link to their talented workforce. We believe combining the resources and capabilities of each foundation into a unified organization will provide significant benefits to both end users and suppliers."
VEI's impressive client list includes some of the largest and most well-known Asian retail merchants. These include:
- Sa Sa International Holdings Limited (HKSAR) - Asia's leading cosmetics company principally engaged in the retailing and wholesaling of cosmetic products, The Company operates in two segments: retail segment, engaged in the operation of cosmetics specialty stores, which offer a variety of products from over 600 beauty brands, covering a wide of products from skin care, fragrance, make-up, body care and hair care to health foods, and brand management segment, engaged in the management of over 100 beauty brands.
- German Pool Ltd (HKSAR) - Home appliance retail giant specialized in the manufacturing, distribution and marketing of an impressive inventory of high-quality domestic appliances and applications for over 30 years, operating from more than 700 retail outlets and major department stores in Hong Kong with a direct presence in the USA, Canada, UK, Germany and the People's Republic of China.
- Robinsons Retail Group (Philippines) - Philippine retail conglomerate with over 600 multi-format retail outlets across the country
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, all the time, 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 completed merger with TAP as of April 3, 2013.
About VEI (www.value-exch.com)
Value Exchange International (VEI) is a company that provides system integration, consultancy services and a wide range of IT services and solutions to various organizations, primarily in the retail sector. VEI integrates essential components of shopping into an omnichannel platform to enhance the consumer shopping experience and ensure retail commerce success. VEI helps retailers to truly blur the lines between Web, retail, mobile, catalog, call center and kiosk, taking the best of each channel and making it possible across all channels.
VEI is headquartered in Hong Kong and has direct presence in Beijing, Shanghai, Guangzhou, Shenzhen, Tokyo and Manila.
RELATED LINKS http://www.sinopayments.com/
Except for factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties, including the effect of changing economic conditions, competition within the credit and security industry, customer acceptance of products and other risks and uncertainties. Such forward-looking statements are not guarantees of performance, and Sino Payments, Inc. results could differ materially from those contained in such statements. These forward-looking statements speak only as of the date of this release, and Sino Payments, Inc. undertakes no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.
Sino Payments, Inc.
Chairman & CEO
T 1.877.205.6270 x801
SOURCE: Sino Payments, Inc.