Asia Payment Systems, Inc announced Tuesday the finalization of a contract to acquire all shares of its partner InterPay International Group Limited.
Asia Payments officials say the acquisition will help to accelerate key business initiatives in Asia and enable it to pursue its objectives in China’s expanding financial payments market.
The acquisition grants InterPay two seats on the Asia Payments board and the integration of management teams, information systems and business operations.
“Completion of the InterPay acquisition creates a broader-based company with a more cogent business model,” said Robert Clarke, chairman of Asia Payments. “This represents a major step forward for our company and will result in significant benefits over the next several years.”