Value Exchange International Limited (VEI), a leading technology company incorporated in Hong Kong, providing innovative digital technology solutions primarily for the retail industry, is pleased to announce they have signed a multi-year Blanket Purchase Agreement (BPA) with a leading Asian retail conglomerate for the implementation of their flagship Software-as-a-Service (SaaS) based mobile loyalty solution.
The software is expected to service over 1,000 outlets of the leading retailer in the Hong Kong (SAR) region, which are operated and franchised under some of the world's leading international retail brands. This is the first move before eventually expanding to other associated brands and to the Greater China and the Asia-Pacific market.
Under the terms of the BPA, the services will launch in October 2014 and cover a two-year period, with term of renewal for another one year. The current agreement value of US$ 350,000 is expected to exceed US$ 5.6 million in returns if deployed at the aforementioned brand partners.
VEI's proprietary mobile Stored Value Card (mSVC) solution is an omnichannel mobile loyalty solution designed to help merchants tailor their business in countless ways to reinforce their brand image and philosophy, streamline core business processes, and enable customer-friendly policies. Offered through a SaaS architecture, the solution is easy to deploy and maintain. It further allows the integration of point-of-sale data with data gathered from mobile interactions to provide a more enhanced and valuable inventory of data that the VEI expects will be of great interest to clients, advertisers and brands.
This implementation aims to connect the leading retail conglomerate and its partners to its customers. This latest development symbolizes a key milestone for VEI following the earlier announcement of another strategic partnership with US listed payments processing company, Sino Payments Inc. (OTC Pink: SNPY) (PINKSHEETS: SNPY). With these two new developments, VEI is poised to become a worldwide leader in digital technology services among retailers.
SNPY has a strong customer base in the Point-of-Sale (POS) in the region. The merger of SNPY and VEI will add new value to the SNPY Group's retail solution offerings by enhancing the functionality of the overall retail business model. By integrating VEI's expertise in mSVC and digital technology to the SNPY Group's existing portfolio, this merger offers significant potential to harmonize the operations of all related entities. Furthermore, this new contract would not only contribute to the SNPY Group's business revenue but also to its organizational growth in the ever-evolving digital technology industry.
Kenneth Tan, CEO of VEI, proclaimed, "This deal will be a complete game changer for our mobile marketing company and an evolution in the overall checkout process. With mSVC and the use of digital rewards, we help brands and retailers track customer behavior, enabling them to deliver personalized offers to boost traffic and increase sales. We are confident mSVC will revolutionize the way uses mobile marketing and loyalty rewards for their business and act as an integral piece of their customer retention strategy."
VEI's impressive client list includes some of the largest and most well-known Asian retail merchants. These include:
- Dairy Farm International Holdings Limited (HKSAR) - Dairy Farm is a leading pan-Asian retailer. At 30th June 2013, the Group and its associates and joint ventures operated over 5,700 outlets; employed over 97,000 people and had total annual sales in 2012 exceeding US$11 billion. The Group operates supermarkets, hypermarkets, convenience stores, health and beauty stores and home furnishings stores under well-known brands. The Group has a 50% interest in Maxim's, Hong Kong's leading restaurant chain. Dairy Farm International Holdings Limited is incorporated in Bermuda and has a premium listing on the London Stock Exchange, with secondary listings in Bermuda and Singapore. Dairy Farm is a member of the Jardine Matheson Group.
- 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.
About Sino Payments Inc., (www.sinopayments.com)
Sino Payments is a US public company and leading provider of customer-centric solutions for the retail industry. By integrating market-leading Point-of-Sales/Point-of-Interaction (POS/POI) and retail solutions, Sino Payments 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. Sino Payments has registered office in Hong Kong and direct presence in Shenzhen, Guangzhou, Shanghai, Beijing, and Manila with over 200 staff.
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, Jakarta and Manila.
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. or other related entities 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. or other related entities undertakes no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.
Value Exchange International Limited
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SOURCE: Sino Payments, Inc.