Sino Fibre and P2P Cash made a memorandum of understanding

Sino Fibre Communications, Inc. an Internet services provider in China, together with P2P Cash, Inc., developer and service supplier of the P2P Cash Mobile Payment Gateway (MPG), have signed a memorandum of understanding ("MOU").

Sino Fibre has incorporated with CAMSE (China Association of Medium and Small Enterprises) to take advantage of advanced international management practices to provide barter trade services for Chinese small and medium sized enterprises. They founded China Business Online Company Limited in China, which will be funded by Sino Fibre, but will be provided with the CAMSE brand, government and member resources to develop the business of the JV by CAMSE .

P2P targets customers from the world's fastest growing countries India, China, Philippines and Mexico where the majority of mobile phones are sold and  where countries lack the widespread electronic banking and retail payment infrastructures and have extremely low credit card penetration and usage levels. This strategy  will position to gain a considerable share of this segment in China with offerings that will enable processing of