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News Centre Signs Payment Service Provider Agreement with SoEasyPay

MoneySwap Plc

 

("MoneySwap" or the “Company”)

 

7 January 2014 

 

Signs Payment Service Provider Agreement with SoEasyPay 

 

MoneySwap (AIM: SWAP), the provider of payment solutions to online and point of sale merchants licenced for UnionPay in the UK, is pleased to announce that it has signed a Payment Service Provider (“PSP”) agreement with SoEasyPay Europe Limited (“SoEasyPay”), a leading global independent payment services provider (“the PSP Agreement”).  The PSP Agreement, which will offer SoEasyPay customers UnionPay functionality through MoneySwap’s UnionPay gateway, will provide the Company with access to SoEasyPay’s established merchant base, as MoneySwap looks to capitalise on the rapid increase in Chinese consumer spending in the UK. 

 

SoEasyPay is one of the major payment service providers on the international market, and has established a strong supplier base of banks in the UK and Europe.  Through the PSP Agreement, which is for an initial term of 5 years, SoEasyPay’s merchants will now be able to process UnionPay transactions through MoneySwap’s UnionPay gateway.  The UnionPay transactions will firstly be routed to the PSP gateway, then to MoneySwap’s gateway, from which they will be directed to UnionPay; with a fee generated for MoneySwap for every transaction processed using the Company’s payment gateways.  

 

Richard Proksa, Chief Executive Officer of MoneySwap, said: 

 

"The opportunity to provide easier and familiar payment solutions to the increasing number of Chinese consumers looking to purchase goods and services from UK merchants has much potential.  PSP Agreements with major independent global payment service providers such as SoEasyPay, are a key part of our strategy to roll-out UnionPay point of sale and online functionality in the UK.  Today’s agreement hinges on our main competitive advantages: our licensing agreements with UnionPay – China’s largest bankcard payment processor; being a one-stop-shop for both POS and online payment solutions; and assisting our sales partners and their merchants to market their products and services to Chinese consumers.  The PSP Agreement with SoEasyPay represents an important facet of our growth strategy in 2014, and I am delighted that MoneySwap is gaining access to a significant new market through SoEasyPay’s considerable established merchant base.” 

 

- Ends- 

 

For further information, please contact: 

MoneySwap Plc

Allenby Capital Limited

St Brides Media and Finance Ltd

 

Nominated Adviser

Financial PR

Richard Proksa

Chief Executive Officer

Nick Naylor

Alex Price 

James Reeve

Frank Buhagiar

Susie Geliher

 

+852 3919 9888  

+44 20 3328 5656

+44 20 7236 1177

 

About MoneySwap (www.moneyswap.com) 

MoneySwap provides payment solutions and gateways to merchants which allow both online and point of sale transactions to be settled using UnionPay cards in the UK.  In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables overseas persons to send funds directly to UnionPay cardholders in China.  The Company also offers prepaid card services working with partners such as Corner Bank, Switzerland and Visa and offers an online peer to peer platform for currency exchange and payments.  The Company’s shares are traded on the London Stock Exchange's AIM market (AIM: SWAP). More information can be found at www.moneyswap.com.