14th Sep 2015 11:32
LONDON (Alliance News) - MoneySwap PLC on Monday said it has partnered with Sage Pay, part of Sage Group PLC.
"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," MoneySwap said in a statement.
"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.
MoneySwap said the partnership "greatly strengthens" its offering. The company wants to increase the number of merchants signed up to accept UnionPay payments utilising its payment gateway solution.
"MoneySwap will receive a percentage of the transaction value from each UnionPay transaction settling though the MoneySwap payment gateway," the company said.
Meanwhile, MoneySwap said that Ton Yuan Enterprise Ltd is now owned by Sheng-Yuan Lin, giving it a beneficial interest in 206.2 million MoneySwap shares. That is equivalent to a 17.21% stake in the company.
Ton Yuan was previously owned by Chien-Wei Kao.
Shares in MoneySwap were untraded at 1.00 pence on Monday shortly after midday in London.
By Samuel Agini; [email protected]; @samuelagini
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