TTG today announces that it has signed a Letter of Intent (referred to as LOI) with First Data China, a subsidiary of First Data Corporation headquartered in Atlanta. Under the terms of the LOI, TTG will partner First Data China in initiating research and development and thereafter commercialization of FirstPOS, a software platform developed by First Data Corporation for the Chinese market.

"Our cooperation with First Data China reinforces TTG’s long term planning and strategy.”  TTG’s Chairman Mr Xiong said today.

About First Data

First Data is a global technology leader in payment technology and services solutions. With 23,000 owner-associates and operations in 34 countries, the company provides secure and innovative payment technology and services to more than six million merchants and financial institutions around the world. Businesses in nearly 70 countries use First Data to secure and process more than 2,000 financial transactions per second. First Data’s infrastructure and partnerships go “beyond the transaction” with next-generation point-of-sale technology backed by powerful analytics to detect fraud, gain insights into consumer spending, and strengthen customer loyalty.

First Data’s Strategic focus is to help its clients grow their business. First Data’s innovations lie in mobile payments, eCommerce and prepaid solutions as well as payment processing, fraud protection and authentication solutions, online banking, check guarantee and verification services and point-of –sale (POS) services.

About TTG 

TTG has developed Financial Electronic Authentication (“FEA”) technology. By combining bank-card and non-bank-card bank accounts, this FEA technology allows clearing and settlement of digital currencies and payment of commissions. With the use of FEA technology, currency is not just a medium and consideration of exchange, but also a means of communication, sharing, analysis, transmission, promotion, data sourcing and labelling, and targeted marketing. FEA technology is now used in TTG’s ULPOS platform, and is being extended to other applications.

Based on its FEA technology, TTG has developed its own smart cloud-supported POS system called T-Linx, which can be applied to different types of POS, both traditional and smart. T-Linx accommodates varying payment methodologies (e.g. cash, bank card, debit card, QR code, NFC, mobile payment, payment by royalty points, etc.) to be transacted on one hardware portal. T-Linx also allows for data transmission and supports numerous CRM functions (e.g. promotion of merchants, coupon, transaction data management, customer loyalty data analysis and management, etc) for diverse industries such as beverage, retail chain stores and B2C e-commerce.

TTG is entitled to a percentage of fees generated on the ULPOS platform and other transactions that employ the FEA and T-Linx.