Forgot Username or Password/PIN?
News Centre MoneySwap provides Signet Trading Limited UK customers with UnionPay acceptance and terminates Pre-paid Visa Card program

20 May 2015

MoneySwap Plc

("MoneySwap", the "Company", or the Group)

 

MoneySwap provides Signet Trading Limited UK customers with UnionPay acceptance and terminates Pre-paid Visa Card program

 

MoneySwap (AIM: SWAP), the provider of payment solutions to online and point of sale merchants licenced for UnionPay in the UK and the provider for UnionPay MoneyExpress service enabling overseas persons to send funds directly to UnionPay cardholders in China, is pleased to announce that it has launched a merchant agreement with Signet Trading Limited (“Signet”), the subsidiary of the largest specialty jeweller in the US, UK and Canada.

Signet merchant agreement
Under the merchant agreement with Signet, MoneySwap will enable Signet to accept UnionPay cards as an additional payment method from its customers. MoneySwap’s UnionPay solution has completed an extensive period of testing by Signet and has already been rolled-out across over 500 of Signet’s stores in the UK. Under the terms of the merchant agreement, MoneySwap will receive a percentage of the transaction value from each UnionPay transaction.

This important customer win is in line with MoneySwap’s strategy to become a leading provider of UnionPay payment solutions to UK merchants and in the process provide its shareholders with exposure to the continued rapid increase in Chinese tourism and spending in the UK.

Signet operates primarily under the name brands of H. Samuel and Ernest Jones.

Termination of pre-paid Visa Card program
As announced on 22 February 2012, a pre-paid Visa card program was launched in co-operation with a Swiss bank. The program aimed to provide Asian travellers access to local currencies from ATMs, point of sales and online purchases in Europe and the United States. With the Group’s current focus of China UnionPay services, the pre-paid Visa card program has been terminated.

 

Richard Proksa, Chief Executive Officer of MoneySwap, said: “We are delighted to welcome Signet amongst our growing customer base and enable it to accept UnionPay cards via the MoneySwap gateway in their 500 stores in the UK. UnionPay is the largest bankcard in circulation in China, with over 800 million cardholders. This will make it easier for Chinese travellers to pay for items in the Signet operated stores and for Signet to better serve and accommodate its growing Chinese customer base. With discussions on-going with other payment providers and UK merchants, we expect to secure similar agreements in the near future, as we look to provide UK merchants with reliable functionality to accept payment from Chinese customers.”

 

For further information, please contact:

 

MoneySwap Plc

Allenby Capital Limited

MoneySwap Plc

 

Nominated Adviser

Financial PR

Richard Proksa

Chief Executive Officer

Nick Naylor

Alex Price 

James Reeve

Fiona Fenn Smith

 

+852 3919 9888

+44 20 3328 5656

+44 7712 101922

 

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 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 .