<p>Cardtrend Systems is a payments systems developer and provider of data processing services for operators of payments and loyalty-rewards cards in the Asia Pacific region.<br /><br />Following the merger, Cardtrend will become the flagship for Asia Payments&#0039; processing business, while serving as technology center for the company. However, Cardtrend will continue to operate as a stand-alone business unit serving external clients as well as satisfying Asia Payments&#0039; own IT requirements.<br /><br />KK Ng, president and CEO of Asia Payments, said: We have identified Cardtrend as a vehicle with which we can rapidly advance the growth of our processing business, while at the same time significantly upgrading our technology and systems capabilities.<br /><br />The merger will not only shorten the development cycle for our own systems by many months, thus giving us substantial savings in development expenses, but will also make a major contribution towards our revenue target of $3 million for 2007, he continued.</p>