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February 2, 2017

SafeCharge expands into Asia Pacific and joins UnionPay International

Company opens Singapore and Hong Kong offices to support expansion

SafeCharge (AIM: SCH), a leader in advanced payment technologies, today announced that it has opened an office in Singapore and a satellite office in Hong Kong.

In addition to its new offices, SafeCharge has become a member of UnionPay International, a subsidiary of the fast-growing global payment network China UnionPay which is extensively used by Chinese shoppers domestically and internationally.

Mr. Willy Kwa has been appointed as Regional Director and Head of APAC Business and will be based in the Singapore office. With approximately 20 years’ experience in the payments sector gained at companies such as DBS Bank and NETS, Mr. Kwa is well-equipped to spearhead the Company’s growth in the region, with a clear mandate to provide the highest levels of customer service as well as establish and maintain relationships with local and international technology, payment and banking partners.

David Avgi, CEO, SafeCharge, said:

“Establishing offices in Singapore and Hong Kong will enable us to grow our footprint in the region and provide local card acquiring and alternative payments for domestic and international businesses that serve customers in Asia Pacific. Our membership of UnionPay International means that we are able to help European merchants accept this fast growing payment method and support the dramatic demand for cross-border transactions in an increasingly global market.”

Willy Kwa, Regional Director and Head of APAC Business stated:

“The Asia Pacific region not only has the largest e-commerce market in the world, but now represents more than half of all e-commerce spend globally, with its lead set to only grow further. In addition, companies like Ant Financial and AliPay demonstrate that domestic innovation is rapidly going global and dramatically altering the macro payments landscape. A local presence is essential in order to stay ahead of the innovation curve, support customers internationally and accelerate our growth.”

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SafeCharge Limited is an Electronic Money Institution authorised and regulated by the Central Bank of Cyprus and is a principal member of MasterCard, Visa and Unionpay International (CUP). SafeCharge Financial Services Limited is authorised and regulated by the Financial Conduct Authority as a Payment Institution. Both SafeCharge companies are wholly owned by SafeCharge International Group Limited.