GUANGZHOU, China, July 20, 2010 (GLOBE NEWSWIRE) -- Amico Games Corp. (OTCBB:AMCG), an information technology company specializing in developing and operating mobile phone multi-players networked games, is encouraged by a recent government policy regulating online payment and settlement gateways.
According to Xinhuanet.com, the People's Bank of China, or the central bank, will issue licenses to non-bank payment and settlement gateways commencing this September. All third-party payment agencies in China are required to submit an application along with their financial reports and client information in order to receive this license, subject to the central bank approval.
This is the first time that the central bank has authorized service providers, other than banks, to participate in online payment collection through Internet, top-up phone cards and digital TV.
Amico has been using online payment and settlement gateways from four different third-party service providers, namely 19Pay, YeePay, 99Bill and ShenZhouFu. "We expect most of these service providers will receive the blessing from the Central Bank," said Mr. Peter Liu, Amico's President and CEO. "We welcome this new rule, which will comfort our game subscribers when making their payment to these service providers; and in turn we expect that our income sources will be further secured and diversified."
About Amico Games Corp.
Amico Games Corp. is a software company specializing in developing mobile phone games for the Chinese market. On December 31, 2009, Amico acquired Galaxy Software Limited, a Chinese private-owned company incorporated in November, 2001. Galaxy is one of the earliest mobile phone multiplayer game developers in China, as well as one of the first Chinese companies to develop and operate Java™ MMRPOG (massive multiplayer role playing online games) mobile phone games. It is also the first company to provide multiplayer games over the WAP platform of China Mobile, the world's largest mobile phone provider based upon subscribers. Further information on the Company can be found at http://www.sec.gov/ and the company's website at http://www.amicogames.com/
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