HONG KONG, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Value Exchange International, Inc., (OTCQB:VEII) (“VEII”) is supporting TapServices, Inc., a Philippine company, in providing subcontracting support and maintenance services to NCR Singapore for NCR Singapore’s implementation of Point of Sale support and maintenance services for up to 120 supermarket stores in Singapore. The implementation is underway with setup work scheduled for completion in 2017.
VEII provides POS systems installation, maintenance, software, and systems support and solutions as needed to our approximately 24,000 retail outlets in Hong Kong SAR-Macau-China region. While the NCR Singapore work is not deemed to be material in estimated gross revenues, this service arrangement represents VEII’s first project in Singapore.
Matthew Mecke, a director of VEII, stated, “The work in Singapore reflects VEII’s strategic effort to expand its services business into new markets as well as in VEII’s core market of Hong Kong SAR-Macau-China.”
About Value Exchange International, Inc. VEII is a U.S. public company headquartered in Hong Kong SAR and with offices in Shenzhen, Guangzhou, Shanghai, and Beijing in China, and in Manila and Kuala Lumpur. VEII is a provider of Mobile Payment Gateway (QR code purchase at POS) customer-centric solutions for the retail industry in Asia. By integrating market-leading Point-of-Sale/Point-of-Interaction (POS/POI), Merchandising, CRM & Reward, Locational Based (GPS & Indoor Positioning System (IPS)) Marketing, Customer Analytics, and Business Intelligence solutions. VEII's retail solutions processes tens of millions of transactions per year via approximately 24,000 retail outlets in Asia serviced by VEII.
Relationship with TapServices, Inc. VEII provides information technology and POS services and operations management to TapServices, Inc. as a subcontractor. Further, VEII acquired 100% of the issued and outstanding stock of TapServices, Inc. under a 23 January 2017 Stock Purchase Agreement.