HONG KONG--(BUSINESS WIRE)--Sino Payments, Inc. (www.sinopayments.com) (OTCBB: SNPY) today announced that it has executed a $100,000.00 line of credit note from long term partner, TAP Group, for the Hong Kong joint venture company, TAP ePayment Services Limited. According to the Hong Kong company registrar, 51% of the newly formed JV Company shares have been transferred to Sino Payments, Inc. TAP Group has already committed $20,000.00 USD of which $5,000 USD was received last week.
In a recent announcement dated December 1st, 2010, Sino Payments, Inc. and TAP Group completed a Joint Venture Agreement whereby both companies formed a new Hong Kong Company, TAP ePayment Services Limited. The purpose of this joint venture is for TAP Group and Sino Payments to jointly pursue electronic payment processing projects for Asian stores throughout the Asian region. Both parties will now implement their unique technologies to offer card processing services to TAP Group’s existing clients such as:
-AS Watsons Group (Hong Kong, China)
-Sogo Department Stores (Hong
Kong)
-PCCW (Hong Kong)
-CTM (Macau)
-Robinsons
Department Stores (Philippines)
About Sino Payments, Inc. (www.sinopayments.com)
About TAP Group (www.tap-group.com.cn )
TAP Group 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 Group is Headquartered in Hong Kong with offices in Macau, Shenzhen, Guangzhou, Shanghai, Beijing, and Manila with over 140 staff.