Sino Payments (OTCBB:SNPY) today announced that it has concluded a referral agreement for physical IP credit and debit card ecommerce processing in Asia with Pay.On Asia, Ltd. in addition to a services agreement for international ecommerce servicing.
PAY.ON Asia is a fully owned subsidiary of PAY.ON AG of Germany.
The global payment technology and transaction processing of PAY.ON enable Sino Payments to serve clients worldwide by integrating solutions that specifically meet domestic and international payment demands. The PAY.ON technology is a fully PCI-certified payment platform that enables online payments by classical as well as alternative payment methods, thus enhancing the market penetration rate for its client.
Sino Payments will utilize the PAY.ON payment platform PaySourcing(TM) to process ecommerce transactions from its customers worldwide in multiple currencies including the US dollar.
CEO of PAY.ON Robert Kuzelj stated: "We are delighted about the closure of the agreement between Sino Payments and PAY.ON. With Sino Payment we were able to win a further international partner for our payment technology, and to further strengthen our position in the Asian market. We have once more shown that our technology is truly global and meets local payment demands anywhere in the world."
Sino Payments President and CEO Matthew Mecke added, "This agreement and service relationship will enable Sino Payments to deploy ecommerce processing solutions worldwide without the need for Sino Payments to deploy offices and technical systems around the globe. I am looking forward to rolling out Sino Payments processing services for our merchants as a result of this agreement with PAY.ON."