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HONG KONG, Oct 25, 2010 - (ACN Newswire) - Sing Lee Software (Group) Limited (the "Company", together with its subsidiaries, collectively known as the "Group", stock code: 8076) today announced that on 25 October 2010, Hangzhou Singlee Technology Co., Ltd. ("Singlee Technology", a wholly-owned subsidiary of the Company) and China UnionPay Co., Ltd, ("China UnionPay") formally entered into a strategic cooperation agreement (the "Cooperation Agreement") in order to engage long term cooperation in respect of the strategic projects, joint development of the innovative "mobile payment" business and service, in the next five years.
In light of the encouraging results achieved by both parties in the previous cooperation of Yunnan model, both parties agreed, with mobile payment as their breakthrough point basis, to strengthen their efforts in the joint development of mobile e-commerce sector in China, with the aim to explore further grounds for the innovative financial sector, such as mobile payment, in China and accumulate more experience thereon, driving mobile payment standard in China towards perfection and standardization.
Singlee Technology will use its best endeavours to provide more high caliber products and services for the existing UnionPay debit and credit mobile payment users to boost the number of active users and grasp more market shares while China UnionPay will provide necessary support to Singlee Technology in areas like paying channels, business and market in order to jointly develop a mobile payment application model that can comply with the financial sector's standard and can be well received and accepted by consumers.
As a bank card association in the PRC, China UnionPay develops and operates the China UnionPay inter-bank transaction settlement system, sets up a global acceptance network for UnionPay cards, promotes the issuance and usage of UnionPay cards, provides innovative payment service for UnionPay as well as delivers excellent, efficient and secure payment services to UnionPay cards holders. The Group believes that the strategic cooperation agreement with China UnionPay represents a good opportunity for the Group to strengthen its reputation in the PRC and other international markets, and is conducive to the long-term development of the Group.
Contact:
Sing Lee Software (Group) Limited
Mr. Jerry Tong
Tel: +852 2576 3666
Email: jtong@sing-lee.com.hk
Quam (H.K.) Limited
Ms. Anita Wan
Tel: +852 2217 2687
Email: anita.wan@quamgroup.com
Topic: Business Tieup
Source: Sing Lee Software
Sectors: Cloud & Enterprise, IT Individual
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From the Asia Corporate News Network
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