Sino Fibre Communications, a broadband services provider in China, has entered into a memorandum of understanding with US-based P2P Cash, which provides online and electronic cash-equivalent payment services.
The parties have agreed to jointly explore the business opportunity for integrating the P2P Cash mobile commerce features into an advanced international barter trading platform to be used by Sino Fibre’s joint venture with the China Association of Medium and Small Enterprises (CAMSE), to handle the barter exchange transactions between the CAMSE members and/or other domestic and international barter clients.
Sino Fibre and CAMSE have agreed to work together to take advantage of advanced international management practices to provide barter trade services for Chinese small and medium sized enterprises.
Sino Fibre and CAMSE have jointly established China Business Online Company in China, which will be wholly funded by Sino Fibre. CAMSE will provide the CAMSE brand, government and member resources to develop the business of the joint venture.
Daniel McKinney, CEO of Sino Fibre, said: This strategic alliance will position us to gain a considerable share of this segment in China with offerings that will enable processing of virtual transactions on the internet with a license of P2P’s patent-pending software.
