Bank of Communications (Guangdong Province) Signs Agreement to Join Retail Alliance With Sino Payments Merger Partner TAP

HONG KONG, Jan. 23, 2012 /PRNewswire/ -- Sino Payments, Inc. (OTCQB: SNPY) a technology Company providing proprietary IP transactions processing services to the retail industry, today announced that as a follow on to the recently announced merger with TAP Investments Group, a TAP 51% owned subsidiary, Value Exchange International Ltd, has signed an agreement with the Bank of Communications (Guangdong Province) for the latter to join TAP's Retail Alliance. Under the agreement, Bank of Communications will introduce its credit cardholders (estimated as 5 million strong in Guangdong and 20 million country wide) to visit one of TAP's retailers in Hong Kong & Macau Special Administrative Regions.

TAP Investment Group and Sino Payments have signed a merger agreement whereby all TAP activities including those for this new contract will be folded into Sino Payments (OTCQB: SNPY) effective as of merger close and consolidated financials expected to be as of March 1, 2012.

Matthew Mecke, CEO of Sino Payments, Inc. proclaimed, "As an initial TAP Retail Alliance partnership with the Guangdong customer base of one of China's 5 largest banks, this speaks volumes about the future for TAP and Sino Payments.  Our strategy remains to continue to roll out TAP retail merchant customers and provide them with additional services and payment products and to partner those large regional and international merchants with the largest of the Chinese banks and their related cardholder and customer bases.  As a result of this alliance and others, we see very strong take up for the short and medium term and are very excited to bring this news to our investors, customers, and partners and look forward to more similar announcements over the coming weeks and months."

Benny Lee, Business Development Manager of TAP Services (HK) Ltd. stated, "Bank of Communications is one of the largest big 5 banks in China and commands 20 million account holders.  We are proud and pleased to partner with the Guangdong province Bank of Communications team and we are excited to bring benefit to the bank as well as to our merchant customers and their Chinese and regional cardholder customers.  We believe this agreement shows the strength and future power of our TAP Retail Alliance and our virtual account processing services offering."

About TAP  (www.tap-group.com.cn)

TAP 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 is Headquartered in Hong Kong with offices in Macau, Shenzhen, Guangzhou, Shanghai, Beijing, and Manila with over 200 staff.

About Sino Payments, Inc.  (www.sinopayments.com)

Sino Payments is a US public company with offices in Hong Kong.  Sino Payments focuses on providing IP credit and debit card processing services to large retail chains, including supermarket chains and large regional multinational retailers, in China and throughout Asia.  Sino Payments has agreed with TAP to merger TAP operations and financials into Sino Payments with an expected merger close and full consolidation as of March 1, 2012.

Contacts:
Sino Payments, Inc.
Matthew Mecke
Chairman & CEO
T 1.877.205.6270 x801
[email protected]

SOURCE Sino Payments, Inc.