PAY.ON AG
PAY.ON AG: PAY.ON opens subsidiary office in Hong Kong
PAY.ON AG / Miscellaneous/Miscellaneous Announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- The opening of the subsidiary demonstrates the Company's global expansion and successful provision of online payment technologies worldwide. PAY.ON AG, leading supplier of global payment and risk management technologies and processor of worldwide online payment transactions, announces its establishment of a subsidiary in Hong Kong. The subsidiary will function as a platform for direct access and further expansion to the fast growing Asian online payment market. Focus of the activities of the team in Hong Kong will be business development, consulting and support services for PAY.ON technologies in the APAC region. The global payment technology and transaction processing of PAY.ON enable payment service providers as well as third party processors, acquiring banks and online remittance providers, to serve clients worldwide by integrating solutions that specifically meet domestic payment demands. The PAY.ON technology is a fully PCI-certified payment platform that enables online payments by classical as well as alternative payment methods, thus enhancing the market penetration rate for clients. In order to run and manage the Company's activities in this high growth potential market, PAY.ON appointed Dr. Tschangiz Scheybani as Managing Director of PAY.ON Asia Ltd. Dr.Scheybani will be responsible for the management of the subsidiary office as well as the support office in Manila. 'We are experiencing a continued growing demand of all online payment activities in the APAC region', says Dr. Tschangiz Scheybani. Dr. Scheybani brings more than 12 years of card business industry experience to the Company. Prior to joining PAY.ON, Scheybani held leading positions in product management and sales at Royal Bank of Scotland (RBS, Edinburgh) and Giesecke & Devrient (Munich) for the European region before taking over the role as CEO of an independent Third Party Processor in the Philippines. He has an excellent knowledge of card processing and card product innovation as well as card processing services, card risk management, card acquiring banking and card issuing services. 'Asia-Pacific is a market of great significance for us, not only due to its size and rapid growth but also because we are convinced of having the most suitable payment technology for that market. With more availability of internet-access, logistics and infrastructure, online-payment-processing volumes experience a steady growth. China, as a rather new payment market, has already today more than 50 PSPs. This market is very important for the long-term positioning of PAY.ON as supplier of global online payment technologies. The long-time experience and excellent network of Dr. Tschangiz Scheybani will enable PAY.ON a fast market penetration and rapid establishment in this region. With our local presence, we will be able to meet our current and future customers' needs and provide a faster, more efficient service', comments Robert Kuzelj, CEO of PAY.ON AG. Media Contact PAY.ON: PAY.ON AG Annett van de Bunt Marketing Manager Lucile Grahn-Straße 37 D-81675 Müichen T: +49 (89) 45 230-552 E: annett.vandebunt@payon.com PAY.ON Asia Ltd Dr. Tschangiz Scheybani 21/F ICBC Tower Citibank Plaza 3 Garden Road Hong Kong T: +852 2824 8494 E: tschangiz.scheybani@payon.com 20.05.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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