CBUY.L Regulatory News (CBUY)

24 April 2015

cloudBuy plc

("cloudBuy" or the "Company")

ASME marketplace to be launched in Singapore together with VISA AP

Further to its announcement of 6 January 2015, cloudBuy plc (AIM: CBUY), the global provider of cloud-based e-commerce marketplaces and B2B buyer and supplier solutions, is pleased today to name ASME, the Association of Small and Medium Enterprises, as the industry association in Singapore with which it is partnering to develop an online marketplace to enable local SMEs to trade with the region and the world. Visa AP is also a partner in the initiative, providing secure Visa payments.

The project is progressing, with plans to launch the ASME-branded e-marketplace to its 7,000 members before mid-year 2015.

Kurt Wee, President of ASME commented, "We are pleased to be able to bring this e-commerce platform to all Singapore SMEs. It is easy to get on board with some subsidy from Spring Singapore and Infocomm Development Authority of Singapore's (IDA) existing schemes. We are working with partners that are dedicated to keep transaction costs low. With a limited domestic market, SMEs are struggling to search for new customers. We believe the ASME B2B e-marketplace is a simple way to enable them to promote their products and services beyond Singapore under the strong Singapore brand."

Ooi Huey Tyng, Visa Country Manager for Singapore and Brunei, added "E-commerce is the fastest growing distribution channel and Visa is committed to supporting SMEs in Singapore to take advantage of this trend. One major deterrent for Singapore companies to trade online has been the cost of transaction. Together with ASME and Visa's technology partner cloudBuy, we will strive to provide a robust platform and keep the transaction costs low."

Ronald Duncan, Chairman and CIO of cloudBuy said, "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. 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."

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About cloudBuy plc

cloudBuy, (AIM: CBUY), provides cloud solutions for buyers and sellers - and brings them together to trade securely and ethically via an increasing number of public e-marketplaces and private purchasing portals around the world, powered by cloudBuy technology.

cloudBuy solutions for buyers help B2B purchasers understand and control their spend, to reduce costs and increase value. Our cloudSell solutions enable sellers of all sizes, from start-ups to corporates, reach new customers and grow their business. cloudBuy's technology platform powers web sites, public marketplaces and private purchasing portals that enable all types of online interactions and relationships including, citizen and business to government; consumer to business; and business to business. For more information visit: www.cloudbuy.com.