Sino Payments Merger Partner TAP Signs New Large Contract With A.S. Watson Group

HONG KONG, Dec. 28, 2011 /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 wholly owned subsidiary, TAP Services (HK) Limited with its strategic partner has signed a contract with existing client, A.S. Watson Group to provide Helpdesk, Hardware, and Software maintenance services to its 544 retail outlets in Hong Kong & Macau Special Administrative Regions (Watsons Your Personal Stores (192), Watson Wine stores (22), PARK n SHOP stores (253), and Fortress stores (77)). The contract services started on the 1st of November 2011 and last until the 30th of November 2013.

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.

This is the first new sizable contract to be announced under the soon to be combined Sino Payments (TAP included into and combined into the existing Sino Payments).

Matthew Mecke, CEO of Sino Payments, Inc. proclaimed, "We are excited to announce this first large project signed by our merger partner TAP. TAP has a great deal of experience and a large footprint in Asia and particularly Greater China related to retail clients and current and future projects and we hope to be able to announce many more such projects in the coming months through the transition period prior to the announced merger as well as after the merger and consolidation of TAP and Sino Payments is complete."

Calinda Lee, General Manager of TAP Services (HK) Ltd. stated, "All of us at TAP are excited about this additional contract with our existing long term client A.S. Watson Group, which provides 9,900 multi format stores - Health & Beauty, Supermarket, Electrical & Electronics, Duty Free, etc., in 33 countries. Such coverage is critical to the success of our mobile Stored Value Card initiative."

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.

About A.S. Watson Group (www.aswatson.com)

A.S. Watson Group has one of the world's largest portfolios of retail formats, retail brands, and geographical presence. Proudly supported by a global family of 100,000 staff, the Group is also a member of the renowned Hong Kong based conglomerate Hutchison Whampoa Limited which has major interests in ports and related services; property and hotels; retail; energy, infrastructure, investments and others; and telecommunications in 53 countries. Through decades of rapid expansion, ASW has evolved into a leading international health, beauty, and lifestyle retailer, serving 26 million customers a week across its 33 markets.

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

SOURCE Sino Payments, Inc.