HONG KONG, Nov. 6, 2012 /PRNewswire/ -- http://sinopayments.com/ Sino Payments, Inc. (OTCQB: SNPY) is pleased to announce plans to conclude its merger with TIG operations.
All shareholders of record of Sino Payments have received the Definitive 14C notification required to take corporate actions needed to complete the merger and fold TIG into Sino Payments, Inc.
Sino Payments expects to complete the process as described in the recently filed 14C and to conclude the integration of TIG operations, revenues, clients, and ongoing developments within this year 2012.
The integration completed today significantly contributes to margin improvements and sustainability of Sino Payments, Inc. as well as enhancing future prospects for TIG. Further, the merger offers TIG a solid growth platform in the retail solution market.
With over 20 years of experience, TIG has gained invaluable experience and know-how on how to help retailers to stay ahead of the competition. The company's continuous success is reflected in its core business growth i.e. a 25% Year-on-Year (YOY) in 2010.
Sino Payments' President and Founder, Matthew Mecke, stated, "We have been working towards this day for several years and I am proud we can finally announce that we have set the date to complete this merger between Sino Payments and TAP. Sino Payments' diversified portfolio in the IT solutions industry and the continuous execution on our strategic priorities provides TIG the strength and advantages to benefit from current trends in IT solutions as well as protection from macroeconomic effects. We will continue to keep our shareholders informed of our future joint operations."
Benny Lee, Founder of TIG also added, "We have been planning for this merger for months and are very excited that it will happen soon. Once it is completed, we will concentrate on transforming Sino Payments Inc. into a prime IT solutions provider in the Asia region. This leverage gives our customers confidence that our services work together as designed. This helps reduce risk and improves performance for our customers and provide exciting opportunities for our employees. By combining with Sino Payments Inc., TIG further expands its capabilities, adds new customer relationships in its target markets, and expands its footprint with its existing customers."
About TAP Investments Group (TIG):
TIG is the holding company of TAP Services (HK) Ltd and Shanghai-based Company, ZhaoHeng Computer Technology (Shanghai) Co. Ltd.
Our strategic partners are key players in the retail IT solutions industry. They include Retalix Ltd., Wincor Nixdorf International, TAPServices Inc., an international technical services company located in Manila as well as technical solutions company - Value Exchange International Limited (VEI).
Together, we are a leading provider of IT solutions for organizations primarily in the retail sector.
By integrating market-leading Point-of-Sales/Point-of-Interaction (POS/POI) and retail CRM solutions, TIG provides retailers with the capability of offering a consistent shopping experience across all channels, enabling them to easily and effectively manage the customer lifecycle on a one-to-one basis.
TIG is headquartered in the Hong Kong Special Administrative Region (HKSAR) with offices in Macau Special Administrative Region (MSAR), Shenzhen, Guangzhou, Shanghai, and Beijing with around 150 staff.
TIG's impressive client list includes some of the largest and most well-known Asian retail merchants:
-The Government of the Hong Kong Special Administrative Region (HKSAR) – TSL appointed vendor and service provider for the upgrade of the Government's Cash Receipting System (GCRS) for the Inland Revenue Department (IRD).
-A.S. Watson Group (HKSAR) - largest health and beauty group in the world operating in over 10,000 stores in more than 37 countries, serving over 26 million customers per week.
-SOGO Department Stores (HKSAR) - One of Hong Kong's largest and most prestigious department stores
-PCCW (HKSAR) - largest telecom service provider and electronic retail chains in HKSAR
-CTM (MSAR) – largest and only full telecom service provider in Macau
-Robinsons Retail Group (Philippines) - Philippine retail conglomerate with over 600 multi-format retail outlets across the country led by Robinsons Supermarket, Robinsons Department Store, Handyman plus alliances for global brands like Toys 'R' Us, Topshop, Ministop, etc.
For more information visit: www.tap-group.com.cn
About Sino Payments, Inc.
Sino Payments is a US public company with offices in HKSAR. 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 Greater China and throughout Asia.
For more information visit: www.sinopayments.com
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.