HONG KONG, June 2, 2009 (GLOBE NEWSWIRE) -- Sino Payments, Inc. (OTCBB:SNPY) has been provided with a development office by the Macau government's Macau Business Support Centre.
Sino Payments will open its Macau office this month (June 2009) for the purpose of setting up an R&D unit and to host the Sino Pay GPP (Global Payment Processing) system for international credit and debit card transactions for the growing Sino Payments customer base. The Macau Business Support Centre will provide the office usage for Sino Payments free of charge and will provide additional government liaison and advice related to further establishment of Sino Pay's buildout in the region via Macau. The Sino Payments Macau office address is:
Sino Payments Alameda Dr. Carlos d'Assupcao No. 263 Edif. China Civil Plaza, 19-20 Fl Macau T: 853 2872 8212 F: 853 2872 7123
Matthew Mecke, Chairman & CEO of Sino Payments stated, "We are very excited to work with the Macau Business Support Centre to further our goal of establishing a regional R&D software development and operations center. Macau's pro business attitude, low taxation, international facilities and helpful civil servants have drawn us to Macau to build out our international processing and R&D center. While in country card transactions will still occur in places like China, Japan, and in certain cases elsewhere in Asia as required by local regulations, we are looking forward to the buildout of our Macau R&D and processing base to provide support regionally and internationally as we grow."
About Sino Payments, Inc. (www.sinopayments.com)
Sino Payments is a Nevada incorporated U.S. Company with offices in Hong Kong in addition to this Macau office. Sino Payments' proprietary IP transaction processing system (SinoPay GPP) was designed to convert transaction processing systems from old-type dial up point-of-sale systems connected to sophisticated check out terminals to a modern seamless IP transaction process, thereby reducing credit and debit card transaction processing times by half at check out. Sino Payments focuses on providing IP credit and debit card processing services to large retail chains in China and throughout Asia including supermarket chains and large regional multinational retailers.
The Sino Payments, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6215
About Macau Government Business Support Centre (www.ipim.gov.mo)
In order to strengthen Macao's role as a regional service centre, Macao Trade and Investment Promotion Institute, in collaboration with many other government bureaus, has established "Macao Business Support Centre" (MBSC) in 2002. The Centre will serve as a vehicle to reduce start-up costs for foreign investors, enabling them to familiarize themselves with Macao's business environment and the relevant administrative procedures in a relatively short time.
FORWARD-LOOKING-STATEMENT:
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 this release.