HONG KONG, March 26, 2012 /PRNewswire/ -- Sino Payments, Inc. (OTCQB: SNPY) has agreed as per previous corporate announcements to merge TAP operations as of 2010 including new contracts with Wincor Nixdorf for approx. 1,500 China, HK, and Macau stores into Sino Payments and this process continues and is ongoing.
Although the merger transaction has not been concluded and will not be concluded until the upcoming shareholder vote and ratification of the merger during the Annual General Meeting which has yet to be confirmed and announced, TAP and Sino Payments have agreed to merge and additional related information will be released as soon as such dates are confirmed.
TAP clients include some of the largest and most well-known Asian retail merchants including:
- AS Watsons Group (Hong Kong, China) 9,500 locations in more than 37 countries
- Sogo Department Stores (Hong Kong)
- PCCW (Hong Kong)
- CTM (Macau) Macau's primary Telecom Fixed Line operator
- Robinsons Department Stores (Philippines) 2nd largest Mall operator in the Philippines in addition to approx. 1,000 retail stores owned and managed by Robinsons
Sino Payments President and Founder Matthew Mecke stated, "The merger agreement between TAP and SNPY is agreed and the process to merge is in progress. We realize this process is taking some time and apologize for the delays. We will have additional related announcements soon and will make such announcements as soon as possible."
For the most recent information on SNPY and the merger please visit the recent audio interview conducted with Matthew Mecke, CEO of Sino Payments, Inc. The audio interview can be accessed via:
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 merge TAP operations and financials into Sino Payments with an expected merger close and full consolidation as spring 2012.
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.
Sino Payments, Inc.
Chairman & CEO
T 1.877.205.6270 x801
SOURCE Sino Payments, Inc.