iFresh, Inc. Announces Acceptance of UnionPay at its Stores
October 04 2018 - 8:30AM
iFresh, Inc. (“iFresh” or “the Company”) (NASDAQ: IFMK), a leading
Asian American grocery supermarket chain and online grocer,
announced today that UnionPay will be accepted iFresh stores across
the United States.
Following the popularity and recognition of
iFresh’s WeChat Pay and Alipay payment options implemented in 2018,
iFresh will now accept UnionPay payments. UnionPay cardholders will
be able to pay with their smartphones at point-of-sale via the
UnionPay mobile application. iFresh will provide UnionPay services
online and in stores across the U.S. facilitated through a
partnership with CITCON, a leading cross-border mobile payments and
marketing solutions provider that helps connect merchants with
Chinese mobile wallet users.
Mr. Long Deng, Chairman and CEO of iFresh,
commented, “With the growing population of Chinese Americans and
more international students and tourists from China, the need to
diversify payment methods has become even more important. Our
ambition is to provide customers with more payment options and to
help customers who hold UnionPay cards get a better exchange rate.
We hope that our UnionPay solution can help improve the performance
of iFresh stores as we continue to provide innovative options for
our customers.”
About iFresh, Inc.
iFresh Inc. (NASDAQ: IFMK), headquartered in
Long Island City, New York, is a leading Asian American grocery
supermarket chain and online grocer. With nine retail supermarkets
along the US eastern seaboard (with additional stores in Glen Cove,
Miami and Connecticut opening soon), and two in-house wholesale
businesses strategically located in cities with a highly
concentrated Asian population, iFresh aims to satisfy the
increasing demands of Asian Americans (whose purchasing power has
been growing rapidly) for fresh and culturally unique produce,
seafood and other groceries that are not found in mainstream
supermarkets. With an in-house proprietary delivery network, online
sales channel and strong relations with farms that produce Chinese
specialty vegetables and fruits, iFresh is able to offer fresh,
high-quality specialty produce at competitive prices to a growing
base of customers. For more information, please visit:
http://www.ifreshmarket.com/.
About CITCON
CITCON is a cross-border mobile payment and
marketing solution leader, enabling merchants to accept QR-based
mobile wallets in-store and online on a global scale. Among the
payment options supported by CITCON, Alipay and WeChat Pay are two
of the most popular wallets with over one billion active consumers.
On top of payments, CITCON also allows merchants to run marketing
and loyalty campaigns through our partner network. Trusted by
thousands of merchants in North America and Europe, including DFS
Group, Caesars Entertainment Group, Kering Group among others,
CITCON offers solutions for businesses to drive omnichannel
commerce growth in a variety of industries ranging from Retail,
e-Commerce, Hotel, Food & Beverage, Transportation,
Entertainment to Education. CITCON was Founded in 2015 by Chuck
Huang, a serial entrepreneur and payment veteran with over a
decade's experience in both US and China, and received $10M venture
funding from leading VCs (Zhen Fund, Cybernaut) in Silicon Valley
and China. For more information, please visit
http://www.citcon.com/.
Forward-Looking Statement
This announcement contains forward-looking
statements. Forward-looking statements provide our current
expectations or forecasts of future events. Forward-looking
statements include statements about our expectations, beliefs,
plans, objectives, intentions, assumptions and other statements
that are not historical facts. Words or phrases such as
"anticipate," "believe," "continue," "estimate," "expect,"
"intend," "may," "ongoing," "plan," "potential," "predict,"
"project," "will" or similar words or phrases, or the negatives of
those words or phrases, may identify forward-looking statements,
but the absence of these words does not necessarily mean that a
statement is not forward-looking. Examples of forward-looking
statements in this announcement include, but are not limited to,
statements regarding our disclosure concerning the Company's
operations, cash flows, financial position and dividend policy.
For more information, please contact:
At the Company:
iFresh, Inc.
Email: ir@ifreshmarket.com
Investor Relations:
Tina Xiao
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
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