SmartCard Marketing Sys Inc. (OTC: SMKG) Enters Partnership with Axepay Inc. for China Cross-Border RMB Payments, KYC & AML
June 19 2017 - 5:20AM
InvestorsHub NewsWire
Verification, Accelerating Merchants Payments
including FX Clearing &
Settlements.
New York,
NY - June 19, 2017 - InvestorsHub NewsWire
- SmartCard Marketing Systems, Inc. (OTC: SMKG)
is pleased to announce the partnership with Axepay Inc. a Fintech
service provider for China Cross-Border RMB payments with
integrated FX clearing & settlement. In addition, the
partnership includes the ability to provide KYC & AML services
for merchants dealing with China businesses and individuals. The
partnership between SmartCard and Axepay creates a powerful suite
of payment processing solutions that provide a conduit to perform
payment transactions between merchants and individuals, and on a
B2B basis, to pay-in and pay-out of China.
Chinese Ecommerce Market Pegged at $1.7 Trillion
by 2020;
Despite some
forecasts projecting a slowdown in ecommerce in China, a new report
from Goldman Sachs sees the world’s largest online
market continuing to boom over the next four years. The report
pegged Chinese ecommerce sales at $750 billion USD in 2016 sales,
coming from 460 million online shoppers, and projects a CAGR of 23%
through 2020 – nearly triple the rate of offline sales. Goldman
Sachs increased its previous forecast for Chinese ecommerce sales
in 2020 by 15% to $1.7 trillion, and upped its projection of online
penetration that year from 22% to 25%, from 16% currently. Drivers
include the expansion of online retail categories like fast-moving
consumer goods, facilitated by upgraded logistics infrastructure
over the past two years and the increase in Omni-channel; sustained
online growth in categories like apparel and electronics into
lower-tier cities and rural areas, supported by technology; and the
addition of 200 million online shoppers between now and
2020. http://multichannelmerchant.com/news/chinese-ecommerce-market-pegged-1-7-trillion-2020/#_
Massimo Barone CEO
stated “We are really excited
about this partnership as it positions SmartCard to deliver a
powerful suite of payment solutions to pay-in and pay-out of China
on a B2C and B2B basis. While many processors are still
attempting to develop a channel, we are progressively closing the
gap and launching a strategic offering to the market for the
Payment Industry globally, including the ability to settle in the
currency of the merchant’s primary location of
business. During the past two months we have
actively introduced the offering, with great interest to Payment
Industry ISOs and Processors in London, HK, Toronto & Chicago
that have large Retail & Banking client
portfolios.”
Gina Leslie Founder and
President of Axepay Inc. also stated
“Axepay’s multi-channel
RMB cross-border payment solution provides access to the debit card
mass market of China, a market in excess of 4 billion debit cards.
We are dedicated to offering diverse payment solutions for
merchants to send and receive payment to and from China, including
mobile, ecommerce, call center, in-app, direct debit and recurring
payments. We are very excited to be working with Massimo and
Smartcard Marketing and to be part of their Global Fintech
Accelerator offering.”
About Axepay
Inc.
Axepay
Inc.
is a Fintech Solutions Company that provides
a simple, intuitive interface allowing
payments to be made and funds to be transferred anywhere in the
world. Our mission is to deliver seamless and cost-effective
cross-border RMB payments to merchants internationally, both on a
B2C and a B2B basis. www.axepay.ca
Services
include:
- Cross-Border
RMB
VirtualPay • Ecommerce • EPOS •
B2B
-
Cross-Border
RM
Retail & Enterprise
- Underwriting or
Aggregator
Prepaid Card
Services
Int'l
Multi-Currency
Currency
Exchange Services /
Wire &
Settlement
About SmartCard
Marketing Systems Inc.
SmartCard Marketing Systems Inc. (SMKG:OTC)
is a Fintech payment accelerator Co & solutions provider to the
payments industry, with cloud-based EMV host Acquiring, Issuing
& Processing solutions to Banks, Telecoms and Enterprise. The
Company offers advisory services & offers proprietary software
solutions including Genorocity.com, a coupon and incentive platform
for the Retail & Events industry, Check21SAAS.com a Remote
Deposit Check solution for X9 clearing, EmphasisPay.com a gateway
for ISV’s, and VelocityMWallet.com, a transaction payment ecosystem
for alternative payment solutions & processing. For more
information, go to
www.smartcardmarketingsystems.com
We seek safe harbor SOURCE SmartCard
Marketing Systems Inc (SMKG)
contact; news@smartcardmarketingsystems.comor
1-844-THE-PAYMENT
WWW.SMARTCARDMARKETINGSYSTEMS.COM
follow us on twitter @otcsmkg
@axepay
-
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