HONG KONG, May 27, 2009 (GLOBE NEWSWIRE) -- Sino Payments, Inc. (OTCBB:SNPY) has signed an MOU with BCS Holdings to cooperate in identifying and acquiring additional merchants in China and Asia.
Sino Payments and BCS are developing a merchant sales and marketing program for Greater China and other in Asia by the end of 2009 on behalf of Sino Payments.
Matthew Mecke, Chairman & CEO of Sino Payments stated, "Our agreement with BCS is an important step in leveraging our Sino Pay GPP processing capability and relationships in China and Asia with the proven record of BCS to build up a large network of retail store locations. BCS has been successful in providing both Bank merchant program services directly to small Chinese American banks as well as finding and servicing thousands of primarily Chinese backed merchant locations in the U.S. I look forward to working with Pius Pang and BCS to build out a similar network in Asia and China in greater numbers in the future."
Pius Pang, Founder and President of BCS added, "Matthew and I both started our careers with different divisions of First Data Corp. in the U.S. and I am excited about this opportunity to utilize our experience and know how to gather groups of merchants in Asia along with Sino Payments to provide modern card processing services."
About Sino Payments, Inc. (www.sinopayments.com)
Sino Payments is a Nevada incorporated U.S. company with offices in Hong Kong. Sino Payments' proprietary IP transaction processing system (SinoPay GPP) was designed to convert transaction processing systems from old type dial-up point of sale systems connected to sophisticated check out terminals to a modern seamless IP transaction process, thereby reducing credit and debit card transaction processing times by half at checkout. Sino Payments focuses on providing IP credit and debit card processing services to large retail chains in China and throughout Asia including supermarket chains and large regional multinational retailers.
The Sino Payments, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6215
About BCS (www.bcscardservices.com)
BCS Holdings, Inc. (Bankcard Solutions) is a full service payment solutions provider for traditional and internet businesses. Bankcard Solutions has strategic partnerships & alliances with Chase Paymentech, National Processing Company (NPC), First Data, Bank of America, Telecheck, Verifone, Discover Network, China UnionPay, JCB International Credit Card Co., Ltd. and United Commercial Bank.
FORWARD-LOOKING STATEMENT:
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.