Moneyswap and DataCash sign cooperation Agreement

For immediate release: 24 July 2012

MoneySwap Plc

("MoneySwap", the "Group" or the "Company")

MoneySwap and DataCash Sign Cooperation Agreement for China UnionPay

MoneySwap Plc (AIM:SWAP), the prepaid card and payment services provider, and DataCash - a MasterCard company and provider of multi-channel payments gateway solutions - have signed a cooperation agreement in accordance with MoneySwap's appointment by China UnionPay as one of its overseas merchant acquirers for the UnionPay Online Payment Program, further details of which were announced by MoneySwap on 9 May 2012 (the "Agreement"). The Agreement will enable DataCash merchants to accept China UnionPay cards issued both inside and outside of China as a form of payment.

DataCash provides global payment gateway and fraud and risk prevention services, serving the needs of multi-channel merchants in the airline, travel, retail and digital media sectors. DataCash will now be able to provide these merchants with a direct link to MoneySwap's UnionPay gateway which accepts payments from China UnionPay cardholders.

The Directors believe the potential online market for merchants selling to China is significant. For the travel and airline sectors alone, there are forecast to be over 65 million Chinese travelling abroad during 20121. With over 2.9 billion China UnionPay cards now issued2, the Directors anticipate that China UnionPay card holders will want to purchase items such as their airline tickets, hotel rooms and other travel related services online.

Richard Proksa, Chief Executive Officer of MoneySwap, commented:

"The announcement today is significant for merchants who wish to sell to China online. Merchants will have access to a large and fast growing online market in China which exceeded RMB770 billion (approximately £78billion), in 20113.

"We are therefore delighted to be partnering with DataCash. Their international merchants will be able to tap into a large consumer market in China. We also believe in time, there is the potential for this to become a significant revenue generator for MoneySwap while offering new payment opportunities for China UnionPay cardholders."

- Ends - 

Sources:

1. http://www.chinatraveltrends.com/wp-Content/uploads/downloads/2011/11/PressRelease_COTRI_241011.pdf 

2. http://en.unionpay.com

3. iResearch data published on www.iresearchchina.com on  20/1/12

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About MoneySwap 

MoneySwap PLC has it operational headquarters in Hong Kong. Primarily focused on the Asia market, the Group offers prepaid card services and also operates an online peer to peer foreign exchange and payment platform. The Group offers prepaid card services working with partners such as Corner Bank, Switzerland and Visa. MoneySwap is also a merchant acquirer for China UnionPay providing payment gateways for both online and point of sale merchants. In addition, UnionPay has licensed MoneySwap for its MoneyExpress service which enables people abroad to send funds directly to UnionPay cardholders in China The Group has banking relationships with DBS Bank and with various local domestic banks in other countries. Its shares are traded on the London Stock Exchange's AIM market (AIM:SWAP.L). More information can be found at: www.moneyswap.com 

About China UnionPay

Established in March 2002, China UnionPay is a bankcard association established under the approval of the State Council and the People's Bank of China. At present, the Shanghai-headquartered UnionPay has about 400 domestic and overseas associate members. China UnionPay operates the national inter-bank clearing and settlement system, develops the worldwide UnionPay Card acceptance network, promotes the issuance and usage of the UnionPay Card as well as other innovative payment solutions, to provide quality, efficient and safe payment services to cardholders. To date, the total number of the UnionPay Card issued both at home and aboard has exceeded 2.9billion. The UnionPay network has been extended to all the cities and rural areas in China. In addition, China UnionPay has enabled the UnionPay Card acceptance in over 125 countries and regions through extensive cooperation with about 400 institutions around the world. Additional information may be found at: www.unionpay.com 

About DataCash

Founded in 1996, DataCash Group Ltd (part of MasterCard Incorporated) provides multi-channel global payment processing services and advanced fraud prevention and risk management solutions to merchants and banks. As a global partner to some of the world's most recognisable brands in the gaming, travel, retail and finance sectors, DataCash combines smart thinking and an end-to-end solution to help its customers transcend the complexities and expense associated with payment processing. Advanced technology from DataCash enables customers to accept and process payments in over 177 currencies, from over 45 brands across e-commerce, m-commerce channels and cardholder present channels - with the security and confidence of tools tailored to meet exacting and expanding business needs. DataCash customers protect their brand and reputation, enhance end-user experience and capitalize on new global market opportunities.