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To: Finance Section Editors/Reporters (5 November 2015, Hong Kong) Credit China Holdings Limited ("Credit China" or the "Company"; together with its subsidiaries, the "Group", stock code: 8207), the leading internet financial service provider in China, announced that UCF Pay Limited ("UCF Pay"), an indirect wholly-owned subsidiary of the Company, has obtained PRC government approval for its cross-border Renminbi payment and settlement co-operation. UCF Pay, together with China Construction Bank, Guangzhou branch, will establish a RMB cross-border settlement services platform for companies and individuals, enabling participants in cross-border transactions to price, pay and be paid in RMB. UCF Pay was granted a third-party payment license by the People's Bank of China in July 2013 and provides PRC nationwide online payment services and prepaid card issuance (in Beijing and Liaoning Province). Over the past years, UCF Pay has developed multiple innovative online/mobile payment solutions for supply chain finance, P2P cloud platforms and mobile payment wallet, attracting over 1.4 million active users. Mr. Phang Yew Kiat, Vice-chairman and Chief Executive Officer of Credit China, said, "Driven by the increased adoptions in e-commerce activities across the globe, demand for cross-border online payment services will increase correspondingly. The Company will take advantage of the new license and design innovative solutions to speed up and simplify cross-border payment procedures for our customers. UCF Pay will launch their new cross-border product offerings in Q1 2016. These products and services will bring new revenue streams for Credit China." ~ End ~ Please subscribe to Credit China's HK wechat account to keep abreast of regular updates on the Group's business development. Company website: www.creditchina.hk This press release is released by PR ASIA Consultants Limited, on behalf of Credit China Holdings Limited. End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=MHOPEEFAHC Document title: Credit China's Subsidiary UCF Pay Granted 'Qualification for Cross-border RMB Settlement' to Provide more Convenient and Secure Cross-border RMB Settlement Services Key word(s): Miscellaneous 05/11/2015 Dissemination of a Press Release, transmitted by EQS TodayIR - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.zjhwrf.cn |
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