Exhibit
10.2
SERVICES
AGREEMENT
Between
SINO PAYMENTS,
INC.
AND
POWERE2E
THIS SERVICES
AGREEMENT is made on April 24, 2009
BETWEEN:
(1)
Sino Payments,
Inc. is a
Nevada corporation with its principal office located at 12
th Floor, Des Voeux Commercial Bldg., 212-214 Des Voeux
Road Central, Sheung Wan, Hong Kong (hereafter referred to as
“ Sino Pay” )
(2)
PowerE2E.
a Company with its
principal office located at Tian Shan Rd., No. 600, Strength Plaza
Tower 3, Shanghai, China (hereafter referred to as " Power
E2E ”);
NOW IT IS HEREBY AGREED
AS FOLLOWS:-
1. Business
Potential:
(1)
POWERE2E
is a Company wishing to
cooperate with Sino Payments to provide the clients of PowerE2Ewith
credit and debit card processing services in Mainland China.
POWERE2E wishes to appoint Sino Payments, Inc. as a consultant for
the purpose of providing such debit and credit card services to
clients of Power E2E.
(2)
Sino Payments,
Inc. is a
Nevada United States corporation listed on the OTCBB exchange under
the trading symbol SNPY. Sino Payments is newly established
to provide credit and debit card processing services in Asia to
primarily retail and ecommerce store merchant companies operating
under the laws and regulation of the Chinese and other Asian
regional governments.
2.
Co-operation
(1)
The parties agree to a
consulting partnership in pursuing a joint business opportunities
that will include but not be limited to the cooperative effort to
market and provide credit and debit card processing services in
China and Asia. .
(2)
Based on the feasibility
study, business plan and the final service agreements made by both
parties ，
the parties hereby to
agree:
(a)
POWERE2E
will appoint Sino
Payments as consultant for debit and credit card processing
services to retail merchants with both physical stores and
ecommerce stores.
(b)
POWERE2E
will pay Sino Payments a
consulting fee of USD 1,000 per month for a minimum period of 1
year as of the date of this agreement. It is intended that the
first payment be made as soon as PowerE2E has approved the Sino
Payments system after testing as in “live operational”
mode. This agreement may be renewed at the end of 1 year for a
further period of 1 year with mutual consent from both
parties.
(c)
“live
operational” shall mean the moment PowerE2E has
implemented the SinoPay payment solutions for a client doing
business transactions utilizing the SinoPay Payment debit and
credit card processing services.
(d)
Sino
Payments will
provide and facilitate debit and credit card processing services to
POWERE2E and to the customers of Power E2E.
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