HONG KONG, Oct. 13, 2009 (GLOBE NEWSWIRE) -- Sino Payments (OTCBB:SNPY) is actively identifying and analyzing multiple acquisition opportunities in addition to the planned growth in customer relationships via our growing partnership program.
Sino Payments President and CEO Matthew Mecke stated, "We intend to grow and expand and to reach new customers along with those we are in current discussions with. One of our focuses for growth is to identify acquisition opportunities in Asia and possibly North America where it makes sense for Sino Payments to acquire or merge businesses into Sino Pay. I have been in the card processing business in Asia since '97 and as a result have had my eye on 3 or 4 small opportunities that, combined with Sino Payments, will give us increased momentum to push forward and present Sino Payments as the premier IP card processing provider to retailers across the Asian region. Now that we have pushed off and are actively in a growth mode, we are beginning to approach outside firms and to engage in merger and related discussions with them. I hope to be able to conclude such deals late this year or early next while keeping our eye on the growth via customer processing and revenue balls."
About Sino Payments, Inc. (www.sinopayments.com)
Sino Payments is a Nevada incorporated US Company with offices in Hong Kong and Macau. 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 checkout. 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.
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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.