Chong Sing Holdings FinTech Group Limited

  • ISIN: KYG2121H1056
  • Land: Hong Kong

Nachricht vom 05.03.2018 | 07:18

Chong Sing Holdings FinTech Group Limited


EQS-News / 05/03/2018 / 14:18 UTC+8

To: Financial Editors / Journalists
[For Immediate Release]

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CSF Group Achieves Another Breakthrough in Overseas Business
as Its Subsidiary Amigo Obtains a 10-Year Third Party Payment Licence in Vietnam

(5 March, 2018, Hong Kong) Chong Sing Holdings FinTech Group Limited "CSF Group", "Company", together with its subsidiaries, the "Group", stock code: 08207.HK) announced that Vinatti, a company wholly-owned by the Group's subsidiary Amigo Technologies, formally obtained a third party payment licence issued by State Bank of Vietnam. The issued payment licence will be valid for 10 years starting from 1 March 2018 and allows provision of four financial services including payment gateway, payment and collection support, e-wallet and digital currency transfer support to Vietnamese users.

The formal acquisition of third party payment licence is a significant milestone for the rapid development of Amigo Technologies. In the future, Amigo will focus on application of the third party payment licence and will cooperate with banks to launch new products and services. With the Group's mature technology and development experience formed and gained from years of dedication in the payment industry in China, Amigo will boost the growth of payment services and other FinTech services businesses through its branches across 63 provinces in Vietnam.

Mr. Phang Yew Kiat, vice-chairman and chief executive officer of CSF Group, said: "The acquisition of the third party payment licence in Vietnam will further expand the payment business system in CSF Group. Vietnam has tremendous potential for the FinTech market with a population of more than 90 million, remarkably growing retail market especially e-commerce and rapid popularization of bank cards and smartphones. We plan to roll out new services in the early second half of 2018 to provide Vietnamese users with fast and efficient third party payment solutions."

- End-

About Chong Sing Holdings FinTech Group Limited (Stock code: 8207.HK)

Chong Sing Holdings FinTech Group Limtied (Stock code: 08207.HK) is a leading integrated FinTech group with a focus on providing 24 x 7 online financial services to SMEs, merchants and individuals in China and Asia through internet and mobile solutions. The four major revenue streams of the Group are Asia payment, technology-enabled lending, blockchain and other wealth management. With branches established in countries, cities and regions including Hong Kong, Beijing, Shanghai, Singapore, Vietnam and Canada, CSF Group builds up a full-dimensional comprehensive FinTech ecosystem of finance + technology + lifestyle for clients.

About Amigo Technologies.

Established in January 2005, Amigo Technologies Joint Stock Company Amigo Technologies is principally engaged in the provision of IT services and solutions for personalised financial services in Vietnam. It is currently a strategic partner of many of the world's leading providers of IT solutions and devices including IBM, HP, Dell, Oracle and Microsoft. It ranks among Vietnam's top five IT service providers targeting large financial corporations by market share. Vinatti, a wholly-owned subsidiary of Amigo Technologies, has built a Paypost payment system and offers system solutions and maintenance services for Vietnam Post.

Please subscribe to Chong Sing's HK WeChat account to keep abreast of regular updates on the Group's business developments.
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Company website: www.csfgroup.com
Chong Sing Holdings FinTech Group Ltd HK wechat account: creditchina8207

This press release is released by PR ASIA Consultants Limited, on behalf of Chong Sing Holdings FinTech Group Limited.
For more information or enquiries, please contact:
Lorraine Lam /Eunice Chan
Tel: (852) 3183 0230 / 3183 0261
Fax: (852) 2583 9138
E-mail: csf@prasia.net



Document: http://n.eqs.com/c/fncls.ssp?u=IAYQQORQJC
Document title: CSF Group Achieves Another Breakthrough in Overseas Business as Its Subsidiary Amigo Obtains a 10-Year Third Party Payment Licence in Vietnam

05/03/2018 Dissemination of a Financial Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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