Global Pay Solutions has created a joint venture company between Global Pay Solutions and Universal Resources for the development, manufacture, marketing, sale and distribution of the Trio Card in China.
The joint venture, Universal Global Pay Solutions, based in Hong Kong will provide Global Pay Solutions with an increased global presence in the worldwide value card market and establishes a new cost effective manufacturing location to support the Global Pay Solutions International card business.
The joint venture will reportedly target the general consumer and employer payroll markets. Global Pay Solutions' alliance with local and national banks assures acceptance to the entire Chinese marketplace and minimizes any foreign card issuer's restrictions.
David Kowal, President GPSI, states, "We are stepping into one of the world's largest markets and we are excited with the opportunity. Our market penetration goal is 1% of the available target market in China over the next 18-24 months. This will equate to exceptional shareholder value in the company."