SOURCE: Asia Payment Systems, Inc.

August 15, 2007 13:58 ET

Asia Payments Announces Change in Name and Stock Symbol

HONG KONG--(Marketwire - August 15, 2007) - Asia Payment Systems, Inc. (PINKSHEETS: APYM) (the "Corporation") today announced that effective tomorrow (August 16) it will change its name to Cardtrend International Inc. (PINKSHEETS: CDTR). The new name was approved at a Special Shareholders Meeting held in Hong Kong on July 17, 2007.

As a result of the name change the Corporation's stock symbol will change from APYM to CDTR. The Corporation's stock will continue to trade on the Pink Sheets (www.PinkSheets.com).

KK Ng, President and CEO, commented, "The new name of Cardtrend more accurately represents our broader emphasis on the card and payments markets in China and across Asia. We are now involved in the issue of credit and pre-paid cards, loyalty reward products and payment systems in addition to our original services in payments processing. The Cardtrend name better describes our expansion into the higher value added segments of the card markets."

Over the coming weeks the Corporation will progressively apply the Cardtrend name to its subsidiaries which operate in various regional and national markets.

ABOUT CARDTREND INTERNATIONAL INC. (formerly ASIA PAYMENT SYSTEMS, INC.)

Cardtrend International Inc. ("Cardtrend") is a US public company with its executive offices in Hong Kong and administration offices in Kuala Lumpur, Malaysia. Its business activities are focused on the payments and loyalty-rewards industries in China and throughout Asia. Cardtrend's wholly owned foreign enterprise in Shanghai serves as its business development vehicle in China. Following acquisitions completed in 2006, Cardtrend now operates in multiple locations across Asia. In line with its long-term growth strategy, Cardtrend now has three distinct yet synergistic business units: Cards Business, Prepaid Business and Processing Business. For more information please visit Cardtrend's corporate website (www.cardtrend.com).

Contact Information

  • Contact:
    Cardtrend International Inc.
    KK Ng
    President & CEO
    (866) 877-2729
    Email Contact