LONDON (Alliance News) - Cloud-based e-commerce services company CloudBuy PLC on Friday confirmed it is working with the Association of Small and Medium Enterprises in Singapore on a project to develop an online marketplace which will allow local SMEs to trade within the region and globally.
CloudBuy initially announced the deal in January but did not provide any information on the identity of the association with which it has secured the contract.
It added that Visa Inc also is a partner on the deal, providing secure payments technology.
"We are delighted to work with ASME and Visa in Singapore, which has been the traditional hub for trade in the region. Our team is excited with the opportunities which the ASME B2B marketplace will provide for Singapore's SMEs to trade around the globe," said Ronald Duncan, CloudBuy's chairman.
"Our mission is to make it as effortless as possible for companies to get up and running. cloudBuy will then offer extended e-commerce capabilities to those trading on the ASME marketplace," Duncan added.
Shares in CloudBuy were up 3.6% to 31.35 pence early Friday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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