May 2005 . Singapore
The Signing Ceremony of the Launch of the CUP Card Acceptance in Singapore which was hosted by the EVP Mr. Liu in Shanghai with the representative from United Overseas Bank and Sinopay Singapore Private Limited.
The Board of Directors of Sinopay Singapore Pte Limited is pleased to announce that there was a bankcard agreement entered into between United Overseas Bank (“UOB”), Sinopay (formerly known as Linkeasy) and China Unionpay, the RMB1.65 billion capital-based operator of a national inter-bank bankcard information switch network in the People’s Republic of China. Under the agreement, as a merchant acquirer, Sinopay works with UOB to enable the acceptance of China Unionpay Cards in Singapore.
This offers Singapore Merchants a good choice to tap into the rapidly growing market of affluent Chinese tourists, traveling businessmen and locally based Chinese Nationals, a high proportion of which are China Unionpay card holders. Presently there are only two China Unionpay merchant acquirers in Singapore.
Sinopay invests heavily and aggressively into marketing and building a technological infrastructure for bank-card payment network systems. Their efforts seemed paid off since their launching of service in late April 2005, Linkeasy has already successfully acquired more than five hundred merchants in less than four months and the number of its merchants is growing rapidly everyday.
“Our success is mainly attributed to the focused marketing strategies, dedicated team, quality services and the state of art technological infrastructure. Mr. Chuang emphasized that his company would continue to grow to operate as one of the key players in the field and he had every confidence that the number of POS terminals installed nationwide in Singapore would reach 1000 by the Chinese Lunar Year, just in time to benefit from the heavy influx of the Chinese tourists from the Mainland.
Next: Jan 2006 . Malaysia