Tap Group subsidiary Tap e-Payment Services (HK) Ltd. will provide electronic funds transfer processing integration services to A.S. Watson stores in Hong Kong and China under a service agreement reached with Sino Payments Inc., the companies announced March 28. Tap Group is a venture partner of Sino Payments.
Sino Payments’ technology supports credit card, debit card and smart payment card processing for point-of-sale transactions using fast Internet Protocol connectivity. Most payment terminals in China and Hong Kong still process transactions through traditional dial-up analog telephone lines, including those operated by A.S. Watson, one of the world’s largest health and beauty retailers, according to a news release announcing the deal.
Sino Payments says its proprietary processing technology reduces checkout times by 10 seconds or more per cardholder transaction.
“Providing card-processing integration services for A.S. Watson’s point-of-sale transactions further exemplifies our commitment to be the technology of choice for the retail industry,” Matthew Mecke, Sino Payments CEO, noted in the release. “We look forward to the opportunity to extend this relationship with A.S. Watson globally.”
A.S. Watson employs more than 98,000 workers at 7,700 stores and has retail and manufacturing operations in 37 markets worldwide.
