News

Asia Pay signs with NETS for online processing in Asia

September 28, 2005

BEIJING - Asia Payment Systems Inc. has completed a deal with Singapore-based Network for Electronic Transfers Pte. Ltd., which will provide Asia Payment customers with online transaction processing for credit and debit cards in Singapore and China, according to a news release.

NETS is an electronic payments provider that offers payment solutions for online and mobile transactions via eNETS, Singapore's leading online payments provider for credit cards, direct debit and "virtual accounts."

eNETS handles more than 350,000 transactions a month and has more than 700 merchants in Hong Kong, China, Japan and Europe signed to its payment gateway.

"We are pleased to welcome Asia Pay into partnership with NETS and believe that this will be the start of a rewarding and mutually beneficial relationship for both companies," said eNETS general manager Raj Lorenz.

Asia Pay president and chief executive Matt Mecke said he expects Asia Pay's relationship with eNets to "extend its reach within the region, gaining clear recognition as the premier, multinational payment gateway in Asia."

"When you add NETS' scope to our China and Japan links," Mecke added, "we truly improve our geographical position and expect that during the coming months we'll be able to grow our regional client base over a much wider catchment area than before."