SHANGHAI, China, July 18, 2016 (GLOBE NEWSWIRE) -- Sino Payments, Inc’s 100% owned subsidiary, Value Exchange Int’l Shanghai Limited (VEICN), a retail technology company in China, has signed a 5-year agreement (expires on 31st December, 2021) with Miya Pay of China, one of the key third party payment platforms in China, to provide service in linking and processing 300m+ mobile-wallet providers.
Miya Pay payment gateway will allow mobile users to pay at any retail location serviced by VEICN (4000+ retail locations). VEICN’s customers and consumers will now be able to benefit from discounts offered by these payment platforms. Additional revenues arise from related marketing programs, such as time/location/item specific rewards and other marketing services to store owners/operators and product brand owners.
The unique offering of VEICN is its ability to integrate seamlessly the Miya payment gateway service with our clients’ POS, a truly hardware-less solution, for a better consumer and ease of payment experience.
This Agreement covers both Miya Pay and VEICN customers. The New Sales from this agreement may contribute revenue on an ongoing basis to VEICN and are projected to reach over USD5m+ over the contract period.
Miya Pay's (http://cspm.miyapay.com) existing China customers include:
- One of the largest China supermarket and convenience store chains with 4800+ stores in Hong & China
- China operation of Japan based king of fast retailing fashion chain with 1700+ stores worldwide
About Sino Payments, Inc. (www.sinopayments.com)
Sino Payments Inc., is a US public company which is headquartered in Hong Kong and with offices in Beijing, Shanghai, Guangzhou, Shenzhen, Manila, and Kuala Lumpur. Sino Payments focuses on providing IT solutions (hardware, software and services) to clients, primarily in the retail sector in the Asian market.
FORWARD-LOOKING STATEMENTS
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.