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ASAP Transaction Processing Partners with PayEco for Cross-Border Merchants' UnionPay Acceptance

Hong Kong, Jan 28, 2013 - (ACN Newswire) - ASAP TRANSACTION Processing Corporation Limited (ASAP TP), a leading transaction processing technology provider, and PayEco Limited (PayEco), a pioneer of cloud-based mobile settlement services in China, today unveiled a strategic processing partnership for China UnionPay's (UnionPay) cards in a card-not-present environment targeting merchants across the border.

This alliance broadens the merchant base with a facility to authenticate and process UnionPay cards online in a secure manner, providing merchants with better access to the burgeoning Chinese e-commerce space which is projected to overtake the United States as the largest e-commerce market by 2015.

"Merchants need a strong solution which ensures ongoing compliance and competitive transaction technologies to better compete in the market. ASAP TP's mission has always been to provide merchant-centric services to our customers. The partnership with PayEco, as an official acquirer for the majority of UnionPay cards issued by China's nationwide commercial banks - re-affirms ASAP TP's position as a leading transaction processor and our commitment to servicing the Chinese consumers while transacting outside of their homeland." said Mr. Ajmal Samuel, President & CEO of ASAP TP.

PayEco, with its enhanced DNA mobile payment services which cover UnionPay card transaction for Mainland businesses ranging from ticketing, tourism and insurance to education; the partnership expands the settlement space and helps to increase UnionPay adoption by both consumers and retailers outside of China.

"With this new agreement, our merchant customers outside of China can reap more direct acceptance means on UnionPay cards, enabling merchants to sell more goods and services to Chinese cardholders; thus tapping into one of the largest markets for potential new customers," said Mr. Kenneth Cheng, SVP International Business of PayEco. "Also, we are delighted to be partnering with ASAP TP for the Company's multi-channel technology capabilities allowing for Chinese consumers with an easier way to transact wherever they are."

About PayEco

PayEco Limited, an innovative "Cloud" mobile payment company, with Headquarters in Guangzhou China and International Headquarter based in Hong Kong. PayEco's mobile payment platform, UnionPay DNA Mobile Payment, providing efficient, secured, simple payment confirmation and settlement services, together with 7/24 professional consulting and technical support services. In 2011, the Company was granted the Payment Permit issued by the People's Bank of China for Mobile Payment Services.

About ASAP Transaction Processing

ASAP Transaction Processing is a creative game changer in the payment field that provides innovative transaction processing technology, products and services aiming to revolutionize the payment ecosystem. ASAP TP's flagship novapay technology provides seamless exchange among financial institutions, merchants, and consumers with new connectivity, high speed payment processing, real-time merchant dashboard reporting and smart mobile wallets to satisfy payment, loyalty, and virtual-to-physical (V2P) needs. ASAP TP brings convergence to payment and technology, from point-of-sales, on/offline, mobile, payment and non-payment, all together onto a single platform. Please visit us at www.asaptp.com.

Source: ASAP Transaction Processing

Ms. Carol Ho
M: +852 9805 0585 | T: +852 3628 3342 | F: +852 2169 3326
E: [email protected]

Ms. Cecilia Huang
M: +86 135 6008 4890 | T: +852 2207 9899 | F: +852 2770 0266
E: [email protected]

Copyright 2013 ACN Newswire. All rights reserved.

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