Asia Payment Systems, Inc., a credit card processing and merchant acquiring services company, has signed an alliance agreement with Singapore-based InterPay International Group, which has established credit card operations in Southeast Asia. The two companies will cooperate in markets across Asia, focusing on business development in China.
InterPay International Group is the holding company for a group of companies offering payment and loyalty card and online re-charge products and services throughout Asia.
“This agreement gives Asia Pay access to significantly more resources and enables us to service a broader client base. It adds new service offerings for Chinese clients and international merchants wanting to expand into the Chinese market and will enable us to provide better pricing to our clients as more merchants come online,” said Robert Clarke, CEO of Asia Pay.
Asia Pay and InterPay have formed a joint project team to develop and implement an action plan in the coming weeks. One opportunity already identified is the provision of processing systems and technical support to second tier Chinese banks, which in turn is expected to facilitate future partnership opportunities with Chinese financial institutions.
“We are well established in our home market, but have limited exposure in China,” said KK Ng, president and CEO of InterPay. “We expect the Asia Pay alliance will open up new avenues in China and elsewhere in Asia for both companies.”