EQS-News: Chong Sing Holdings FinTech Group Limited: CSF Group Achieves Another Breakthrough in Overseas Business as Its Subsidiary Amigo Obtains a 10-Year Third Party Payment Licence in Vietnam

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EQS-News / 05/03/2018 / 14:18 UTC+8 
 
*To: Financial Editors / Journalists 
[For Immediate Release]* 
 
/ 
 
*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. 
/ 
Company website: www.csfgroup.com [1] 
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: [phone] 
Fax: [phone] 
E-mail: [e-mail] 
 
Document: http://n.eqs.com/c/fncls.ssp?u=IAYQQORQJC [2] 
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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(END) Dow Jones Newswires

March 05, 2018 01:19 ET (06:19 GMT)