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News Centre MoneySwap Opens Up Chinese Market to Overseas Firms

 

For immediate release: 20 December 2011
 
MoneySwap Plc
("MoneySwap", the “Group” or the "Company")
 
MoneySwap Opens Up Chinese Market to Overseas Firms
MoneySwap Appointed As Merchant Acquirer to Alipay’s Online Platform
 
MoneySwap Plc (AIM:SWAP), is pleased to announce that it has signed an agreement with  Alipay, the Chinese online payment company as a merchant acquirer.   
 
Under the agreement, MoneySwap will be responsible for acquiring overseas merchants to Alipay’s online payment platform which enables merchants to process online payments made by China UnionPay debit and credit cards, as well as Visa and Mastercard. China UnionPay is China’s leading card issuer.   
 
Alipay (www.alipay.com) is a leading third-party online payment solution based in China, providing an easy, safe and secure way for individuals and businesses to make and receive payments on the Internet. According to its website, as at September 2011, Alipay partnered with more than 65 financial institutions, including 19 leading national and 45 regional banks across China, as well as Visa and MasterCard. In addition, Alipay also facilitates offline value-added services through a strategic partnership with China Post, which has coverage of both rural areas and university campuses in China.
 
 
Richard Proksa, Chief Executive Officer of MoneySwap, commented:
 
“We see alliances with other platforms as being highly complementary to our positioning in the market. The Alipay platform provides merchants based outside of China with an easy mechanism to access the fast growing Chinese consumer market. We are delighted to be associating our business with them.”
 
- Ends -
 
For further information, please contact:
 

MoneySwap Plc
Allenby Capital Limited
GTH Communications
 
Nominated Adviser
Financial PR
Richard Proksa
Chief Executive Officer
Nick Naylor
Alex Price 
James Reeve
Toby Hall 
 
Suzanne Johnson Walsh
+852 3919 9888  
+44 20 3328 5656
+44 203 103 3900

 
About MoneySwap (www.moneyswap.com)
MoneySwap Plc is a Gibraltar registered company that has its operational headquarters in Hong Kong. Primarily focused on the Asia market, the Group operates an online peer to peer foreign exchange and payment platform. The Group’s online money services platform enables peer to peer currency exchange and payments either between e-wallets or international money transfers through the global banking system. The Group has banking relationships with Barclays Bank plc in Europe, DBS Bank in Singapore as well as Standard Chartered plc, HSBC in Hong Kong together with various local domestic banks in other countries. Its shares are traded on the London Stock Exchange’s AIM market (AIM:SWAP.L).
 
 
About Alipay
Alipay is a subsidiary of Alibaba.com Limited and which provides an escrow payment service that aims to reduce transaction risk for online consumers since shoppers have the ability to verify whether they are happy with goods they have purchased before releasing funds to the seller. According to the iResearch China Internet Market Annual Review Report for 2009 Alipay was a key catalyst in the growth of the online retail market in China from RMB 1.0 billion in gross merchandise volume (GMV) in 2003 to RMB 248 billion in GMV in 2009.