Subject: SMKG Volume Up Nicely on News Out Today

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SMKG Volume Up Nicely on News Out Today
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Company: SmartCard Marketing Systems Inc. (Pink Sheets: SMKG)


Last:

Price: 0.027

Change (%): + 0.0023 (9.27)

Volume: 302,001
SMKG Chart

SmartCard Marketing Systems Inc. (OTC: SMKG) Enters Partnership with Axepay Inc. for China Cross-Border RMB Payments, KYC & AML Verification, Accelerating Merchants Payments including FX Clearing & Settlements

NEW YORK, June 19, 2017 /PRNewswire/ - SmartCard Marketing Systems, Inc. (OTC: SMKG) is pleased to announce the partnership with Axepay Inc. a Fintech service provider for China Cross-Border RMB payments with integrated FX clearing & settlement. In addition, the partnership includes the ability to provide KYC & AML services for merchants dealing with China businesses and individuals. The partnership between SmartCard and Axepay creates a powerful suite of payment processing solutions that provide a conduit to perform payment transactions between merchants and individuals, and on a B2B basis, to pay-in and pay-out of China.

Chinese Ecommerce Market Pegged at 1.7 Trillion Dollars by 2020;

Despite some forecasts projecting a slowdown in ecommerce in China, a new report from Goldman Sachs sees the world’s largest online market continuing to boom over the next four years. The report pegged Chinese ecommerce sales at 750 billion dollars in 2016 sales, coming from 460 million online shoppers, and projects a CAGR of 23% through 2020 - nearly triple the rate of offline sales. Goldman Sachs increased its previous forecast for Chinese ecommerce sales in 2020 by 15% to 1.7 trillion dollars, and upped its projection of online penetration that year from 22% to 25%, from 16% currently. Drivers include the expansion of online retail categories like fast-moving consumer goods, facilitated by upgraded logistics infrastructure over the past two years and the increase in Omni-channel; sustained online growth in categories like apparel and electronics into lower-tier cities and rural areas, supported by technology; and the addition of 200 million online shoppers between now and 2020.

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