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News Centre MoneySwap Provides Sage Pay Customers with UnionPay Acceptance and Holdings in Company

14 September 2015

MoneySwap Plc

("MoneySwap" or the "Company")

 

MoneySwap provides Sage Pay customers with UnionPay acceptance and Holdings in company

 

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 payment partnership with Sage Pay.

 

Partnership with Sage Pay

Sage Pay is one of the UK’s leading independent payment service providers and is one of the most trusted payment brands. Sage Pay processes billions of pounds worth of secure payments for its 55,000+ UK merchants every year and makes the process of accepting payments online, over the phone, or in person simpler, faster, safer and more profitable for businesses.  It is a subsidiary of the FTSE 100 business management software and services company, The Sage Group plc. For further information please visit www.sagepay.com.

 

Under the partnership, Sage Pay, in association with MoneySwap, enables Sage Pay’s high street retailers and small and medium sized businesses to benefit from the Asian tourist market as they will be able to accept payments from Chinese visitors who want to pay with their existing UnionPay cards. By integrating with the MoneySwap payment gateway, Sage Pay’s user-friendly technology and pre-programmed UnionPay terminals will enable merchants to simply plug-in-and-play with their existing point of sale payment systems.  The Directors believe that this partnership with Sage Pay greatly strengthens the Company’s offering as it seeks to increase the number of merchants signed up to accept UnionPay payments utilising MoneySwap’s payment gateway solution. MoneySwap will receive a percentage of the transaction value from each UnionPay transaction settling though the MoneySwap payment gateway.

 

Richard Proksa, Chief Executive Officer of MoneySwap, said:

 

“For UnionPay users in the UK, MoneySwap is a recognisable and trusted payments provider. We believe these tourists will welcome the lack of currency conversion charges and expenditure cap which Chinese tourists currently face when purchasing with cash abroad. Sage Pay’s user-friendly technology and pre-programmed UnionPay terminals allow the merchant to simply plug-in-and-play.  MoneySwap is a key acquirer for UnionPay and chose to partner with Sage Pay over other UK payments providers because of Sage Pay’s flexible technological development, seamless functionality and its high security.”

 

This important customer win is in line with MoneySwap’s strategy to work with key payment solution providers to enable their merchants to accept payment by the UnionPay card of which there are over 800 million card holders in China.

 

Holdings in Company

The Company has today been informed of a change in ownership of one of the Company’s substantial shareholders. Ton Yuan Enterprise Limited is now wholly owned by Sheng-Yuan Lin.  Sheng-Yuan Lin, through its ownership of Ton Yuan Enterprise Limited, has beneficial interest in 206,155,495 ordinary shares of 0.1p each in the Company, equivalent to 17.21% of the Company's issued share capital.

 

- Ends -

 

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 .