Asia Pay completes development of transaction processing platform for use in China
Asia Payment Systems, Inc. (OTC Bulletin Board: APYM) announced completion of technical development of its APAYcard transaction processing platform for use in China, and also announced commencement of live testing.
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"The completion of the technical work is a major milestone in our strategic plan," said Matt Mecke, President & CEO of Asia Payment Systems, Inc. "This is the culmination of a tremendous level of effort from our technical teams in both the US and China, and places us in a great position to grow our merchant base during the rest of 2005. We have been holding back several customers who have expressed their desire to use APAYcard in China.
"The gateways we now have available allow us to process transactions from bricks-and-mortar retailers throughout China and e-commerce merchants around the globe. We have opened the China market for major international e-commerce merchants and expect a flood of inquiries, particularly from US companies wanting to expand their business in China," concluded Mecke.
The IP-based APAYcard system facilitates credit and debit card transaction processing from anywhere in China via Asia Pay's new data center in Shanghai.