Asia Pay Adds Former MasterCard Vice President Hong Kong/Macau to Board of Directors

HONG KONG, March 6 /PRNewswire-FirstCall/ -- Asia Payment Systems, Inc. (OTC Bulletin Board: APYM) is pleased to announce that Rosaline Tam has been appointed to the Asia Pay Board of Directors. Ms. Tam has over 25 years' experience in financial services technology including senior management positions with MasterCard International, Citibank and American Express.
Ms. Tam served as the President of Continuous Technologies International Limited from February 2001 to September 2003. At Continuous she was responsible for turning the company around and she expanded its operations to Taiwan, the Philippines, Thailand and China. She also extended the software product offering to include customer relationship management and workflow software beyond the existing range of interactive voice recognition products.
Ms. Tam currently serves as a director of Richwap Company Limited (since October 2003) and in 2003-2004 was a non-executive director of Recruit Holdings Limited, a Hong Kong Stock Exchange GEM Board company.
Before joining Continuous Technologies, Ms. Tam was with MasterCard International, serving as the Vice President and General Manager for Hong Kong and Macau as well as the Vice President for Advance Payments, e-Business and Mobile Commerce for Greater China. She led MasterCard International to gain significant market share, both in terms of the number of cards issued and card spending. She also led the company to achieve a threefold growth in revenue in the midst of the Asian economic crisis.
"We are extremely fortunate to have Ms. Tam join our new organization," said Robert Clarke, Asia Pay's CEO. "We feel Ms. Tam adds considerable strength and expertise to our board." Ms. Tam has over 25 years' experience in the rapidly changing technology sector of the financial services industry.
Prior to joining MasterCard International, Ms. Tam was a General Manager for Citibank Australia in diverse roles, including head of product management for cards and personal loans for the consumer bank division and head of information technology for the card services division.
Earlier in her career, Ms. Tam served as Vice President of American Express Travel Related Services in Sydney, New York and East Asia/North Pacific for 6 years. She holds a Bachelor's in Mathematics and a Master's in Computer Science, both from the University of Hawaii.
Ms. Tam replaces Matt Mecke, who has resigned from the board.

About Asia Payment Systems, Inc.
Asia Pay (http://www.asiapayinc.com) is a US public company with offices in Hong Kong and Shanghai, China, a US representative office in New York and processing hubs in Singapore and Japan. Asia Pay is developing a credit card processing network to facilitate transactions between merchants and financial institutions in China, Japan, and other markets in Asia.
Centered upon its current mission to become a national provider of world-class transaction processing services in China, Asia Pay continues to identify new opportunities to expand nationwide in China, which is continuing to experience high growth in credit card issuance and usage. China also has an estimated 875 million debit cards in use, and an expected growth of an additional 100+ million debit cards annually.

Contacts:

Asia Payment Systems, Inc.
Tel.: +1-866-877-APAY
ir@asiapayinc.com
http://www.asiapayinc.com

Investor Relations
Sussex Avenue Partners
Tel.: +1 760-918-5592
Toll-free: +1 866-878-7739
news@sussexavenuepartners.com
http://www.sussexavenueprofiles.com

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SOURCE Asia Payment Systems, Inc.
Web Site: http://www.asiapayinc.com