Systems, Inc. announced it has signed a credit card processing services agreement with
e-Charge Processing Services Corporation, a partially owned subsidiary of
e-Lux Corporation of Japan. e-Charge’s clients will be able to
take advantage of Asia Pay’s state-of-the-art and cost-effective credit card
transaction processing systems. In addition to benefiting from enhanced
efficiency, processing, reporting, and settlement features of the Asia Pay
system, e-Charge will also be able to accept additional card types with a
greater degree of transaction flexibility for its clients and customers.
Asia Pay is an Asian-based credit card processing merchant services
company, which is developing a network to provide credit card clearing
services to merchants and financial institutions in China. Asia Pay is in the
final stages of negotiation with several Asian clients to provide processing
services. The primary focus of development efforts will be the rapidly
growing Chinese credit card market. Asia Pay’s mission is to become a leading
provider in China of third-party processing services to bankcard accepting
merchants, issuers of bank credit cards, of petroleum station retail cards,
and to issuers of merchandise and other retail cards.
Matt Mecke, President & CEO of Asia Pay, announced, “We are extremely
pleased to have such a strong relationship with e-Charge. We have been
working with e-Charge for some time to develop a relationship involving credit
card processing services. e-Charge’s card sales volume is in excess of USD 3
million a month and we want to capture a significant portion of this
business. The systems we have developed for the e-Charge processing business
are `Best in Class.’ We will leverage this system to provide similar
processing services to additional clients as they are brought onto the Asia
Mecke added, “We believe that e-Charge will be able to use the new
capabilities of the Asia Pay system to build greater card transaction volumes
from their customers and generate additional revenue for e-Charge as well as
for Asia Pay. We look forward to cooperating further with e-Charge.”
About Asia Payment Systems, Inc.
Asia Pay is a Nevada incorporated company with offices in Seattle,
Washington, Hong Kong, and Shenzhen, China. It is developing a credit card
processing network which provides clearing services to merchants, oil
companies, and financial institutions in China and in selected other markets
Currently, Asia Pay does not have adequate capital to begin the operation.
There are no assurances that Asia Pay will have sufficient capital to initiate
operations, including, but not limited to implementing this transaction.