19 February 2018
visit www.nextgenbanking.co.uk/

Asia Payment Systems to buy China's Global Uplink

25 July 2006  |  2021 views  |  0 Source: Asia Payment Systems

Asia Payment Systems, Inc. (OTC Bulletin Board: APYM) today announced that it has signed an agreement in principle to acquire Global Uplink Communications Ltd. (Global Uplink), a Chinese company based in Guangzhou, China, with established loyalty program operations and related services in China and Hong Kong.

Global Uplink, which was established in 2001, will bring to Asia Payments successful operations in business processes outsourcing (BPO), loyalty programs, customer relations management (CRM) as well as additional consumer services. The Company conducts business in what is recognized as the rapidly growing regions within China, including Guangzhou, Dongguan and Hong Kong. The Company's client base includes financial institutions and multi-national corporations that are operating in these areas.

The agreement, which is subject to standard due diligence procedures as well as final documentation by both parties, should likely be finalized in the fourth quarter of 2006.

Mr. KK Ng, CEO of Asia Payments, stated, "Global Uplink is a well-managed, growing company whose dedicated and experienced senior staff has exhibited an excellent track record over its few short years of operation. In addition, Global Uplink's CRM and call center operations are currently profitable, and acquisition of the company will immediately provide Asia Payments with a minimum of US $1 million per year in revenue."

Mr. Ng continued, "We intend to thoroughly capitalize on Global Uplink's strong client base, marketing our payment processing services as well as card and loyalty rewards programs to them." In addition to gaining Global Uplink's established business-client base, Asia Payments will also be the benefactor of significant consumer data on the emerging middle-class in China.

Mr. Chen Yu Hua, Founder and General Manager of Global Uplink, stated, "We are very excited to become part of the Asia Payments family, and we firmly believe the combined strength of both of our organizations will greatly increase our revenue growth potential in the enormous market that China's emerging middle class represents."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit www.vasco.comvisit www.swift.com/your-needs/instant-paymentsvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10984 views comments | 16 tweets | 12 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8524 views comments | 15 tweets | 42 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
8491 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8364 views 10 comments | 21 tweets | 26 linkedin

Featured job

to £100K base, double OTE, benefits
London, UK

Find your next job