Sino Payments Inc., and Value Exchange International Limited Are in Merger
Sino Payments, Inc. and Value Exchange International Ltd, a Related
Retail Technology Company, Are in Merger Talks to Bring a Synergy
Effect to the Whole Sino Payments Group
HONG KONG, CHINA -- (Marketwired) -- 10/21/13 -- 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
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
Sino Payments, Inc.
Chairman & CEO
T 1.877.205.6270 x801
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