SOURCE: Sino Payments, Inc.

January 21, 2014 09:15 ET

Sino Payments Subsidiary Signs USD 2 Million New Service Contract

Zhao Heng Information Technology (Shanghai) Co. Ltd (ZHITSCL) Signs Contract to Provide Services to the World's Largest Health and Beauty Retailer in the People's Republic of China (PRC)

SHANGHAI, CHINA--(Marketwired - Jan 21, 2014) -  Sino Payments, Inc. (OTC Pink: SNPY), a technology company providing IT solutions primarily in the retail industry, today announced that the operating arm of its wholly owned subsidiary in the PRC, ZHITSCL, with its strategic partners, has signed a contract with the world's largest health and beauty retailer. The one-year contract details the provision of Helpdesk, Software Maintenance, Hardware Maintenance, New Store Opening and Install-Move-Addition-Change services to its 1,700+ retail outlets in the PRC and will end on 31st December 2014.

Kenneth TAN, CEO of Sino Payments Group, proclaimed, "We are excited to announce the signing of this large project by one of our operating subsidiaries in the PRC. As the market in China continues to evolve, the retailer is looking to open two new stores per day in 2014. In order to accommodate this growth size, TAP is committed to providing greater standardization and visibility across the customer's store networks. TAP Group benefits from extensive experience and strong foothold in the Asian and particularly Greater China retail market. Projects such as these demonstrate our ability to provide tailored technology solutions and dedicated on-the-ground support services to our customers."

TAP's impressive client list includes some of the largest and most well-known Asian retail merchants. These include:

  • A.S. Watson Group (HKSAR) - The A.S. Watson Group (A.S. Watson or ASW) operates the world's largest health and beauty retail group, with over 11,000 stores in 33 markets serving over 27 million customers per week. The company is a wholly owned subsidiary of the renowned multinational conglomerate Hutchison Whampoa.

  • PCCW Limited (HKSAR) - PCCW Limited is the holding company of HKT Group Holdings Ltd - a Hong Kong based Information and Communications Technology Company. PCCW also holds a majority interest in Pacific Century Premium Developments Limited. PCCW is headquartered in Hong Kong and operates in Europe, the Middle East, Africa, the Americas, The People's Republic of China and other parts of Asia Pacific region.

About Sino Payments, Inc. (
Sino Payments is a US public company headquartered in Hong Kong. Sino Payments and TAP Group have finally signed an addendum to the original Share Exchange Agreement to conclude the merger effective date on 1st of January 2014. Hence, TAP activities including this new contract will be folded into the result of Sino Payments in 2014.

The combined group has offices in Hong Kong, Shenzhen, Guangzhou, Shanghai, Beijing, and Manila with over 200 staff. It focuses on providing customer-centric IT solutions, primarily for the retail industry. By integrating market-leading Point-of-Sale/Point-of-Interaction, payments, and retail CRM solutions, TAP enables retailers to offer a consistent shopping experience across all channels at all times, for easier and more effective customer lifecycle management.


Except for factual statements made herein, the information contained in this press release consists of forward-looking statements that involve risks and uncertainties, including the effect of changing economic conditions, competition within the credit and security industry, customer acceptance of products and other risks and uncertainties. Such forward-looking statements are not guarantees of performance, and Sino Payments, Inc. results could differ materially from those contained in such statements. These forward-looking statements speak only as of the date of this release, and Sino Payments, Inc. undertakes no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.

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