"The completion of the technical work is a major milestone in our strategic plan," said Matt Mecke, President & CEO of Asia Payment Systems, Inc. "This is the culmination of a tremendous level of effort from our technical teams in both the US and China, and places us in a great position to grow our merchant base during the rest of 2005. We have been holding back several customers who have expressed their desire to use APAYcard in China.

"The gateways we now have available allow us to process transactions from bricks-and-mortar retailers throughout China and e-commerce merchants around the globe. We have opened the China market for major international e-commerce merchants and expect a flood of inquiries, particularly from US companies wanting to expand their business in China," concluded Mecke.

The IP-based APAYcard system facilitates credit and debit card transaction processing from anywhere in China via Asia Pay's new data center in Shanghai.

About Asia Payment Systems, Inc.

Asia Pay is a USA public company with offices in: New York City; Seattle, Washington; Beijing and Shenzhen in China; and Hong Kong. Asia Pay is developing a credit card processing network that provides clearing services to merchants, oil companies, and financial institutions in China, Japan, and in related markets elsewhere in Asia.

Asia Pay's mission is to be a national provider of world-class, third- party processing services in China to bankcard-accepting merchants, issuers of bank credit cards, issuers of petroleum station retail cards, and issuers of merchandise and other retail cards. Systems, hardware, and personnel are now in place as Asia Pay commences delivering service to clients.

For more information about Asia Payment Systems, Inc. (Asia Pay), please visit: http://www.asiapayinc.com/.

   Contacts:

   Asia Payment Systems, Inc.:
   Matt Mecke, President & CEO
   Tel.:  1-866-877-APAY (investor relations)
   ir@asiapayinc.com

   Investor Relations:
   Sussex Avenue Partners
   Tel.:  760-918-5582
   Toll-free:  866-878-7739
   news@sussexavenuepartners.com
   http://www.sussexavenueprofiles.com/

This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com/.

Source: Asia Payment Systems, Inc.

CONTACT: Asia Payment Systems, Inc.: Matt Mecke, President & CEO,
+1-866-877-APAY (investor relations), ir@asiapayinc.com; or Investor
Relations: Sussex Avenue Partners, +1-760-918-5582, +1-866-878-7739,
news@sussexavenuepartners.com

Web site: http://www.asiapayinc.com/