SOURCE: Cloudweb, Inc.

February 16, 2016 12:13 ET

Cloudweb, Inc. Signs Contract to Enter China

WARWICKSHIRE, UNITED KINGDOM--(Marketwired - Feb 16, 2016) - Cloudweb, Inc. (OTC PINK: CLOW) announced today that it has entered into a credit card processing agreement with a Hong Kong provider enabling it to process orders from customers based in China through UnionPay.

"We plan to enter the lucrative China market as soon as possible. China, just like the UK, is still considered an up-and-coming market by many and is about 5 years behind America in terms of industry penetration. This presents a good opportunity for us to enter a market in its infancy stages," stated Mr. Liao, CEO of Cloudweb Inc.

UnionPay is the top form of payment in the country as it is the primary method by which Chinese customers transact. As of 2016, UnionPay exceeds Visa in transaction volume and is the largest bankcard settlement organization in the world.

About Cloudweb, Inc.

Cloudweb, Inc is a technology provider to small businesses, Web design professionals and individuals, delivering cloud-based products and outcome-driven, personalized Customer Care. The Company operates domain marketplace, where its customers can find that piece of digital real estate that matches their idea. The Company provides Website building, hosting and security tools to help customers construct and protect their online presence and tackle the changing technology landscape. It also provides applications that help them connect to its customers, manage and grow their businesses and get found online. It has designed and developed a set of cloud-based technology products that enable its customers to establish a digital presence, connect with their customers and manage their business operations. The Company's products include domain, hosting and presence, and business applications.

About UnionPay

Established in March 2002, UnionPay is a bankcard association established under the approval of the State Council and the People's Bank of China. At present, the Shanghai-headquartered UnionPay has about 400 domestic and overseas associate members. UnionPay has become the central and pivotal part of China's bankcard industry, and plays an essential role in the industry development. Ever since its establishment, UnionPay has actively responded to the social and economic development in China and the demand for bankcards, with its industrial mission and social responsibilities in mind. UnionPay brings its functions as a bankcard association into full play through cooperation with relevant parties of bankcard industry like commercial banks and professional institutions to blaze a new trail with Chinese feature for the development of China's bankcard industry.

Forward-looking Statements

This press release may include certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on Cloudweb's current projections and expectations in regard to future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to Cloudweb's anticipated business prospects, strategies, new developments, financial performance and similar matters. Cloudweb disclaims any obligation to update any of its forward-looking statements, except as may be required by law. Investors are urged to consider closely the disclosure in our Form 10-K which is filed with the SEC.

Contact Information

  • Cloudweb, Inc.
    Liao Zhi De
    44 20 8050 2379