Fortitude Valley, QLD (prsafe ) February 2, 2012 - International payment solutions company, Payment Network International Financial Services (PNI), has been granted an Australian Financial Services Licence (AFSL) from the Australian Securities and Investments Commission (ASIC).

The move was made in direct response to demand for their unique online payment processing services within Australia.PNI undertook rigorous testing by ASIC, and as a result, have been officially recognised as a highly secure and qualified online payment provider, now authorised to provide non-cash payment (NCP)financial services to Australia.

Tony Trimboli, Chairman of PNI, said, "Having this licence is a great milestone for PNI and has reinforced that all PNI staff, brands and processes are of high quality."

"Clients can instil complete confidence in PNI, knowing that the services that are being provided comply with comprehensive and stringent policies to ultimately offer high quality and beneficial products."

Ross Temby, Chief Executive Officerof PNI, said, "The Australian Financial Services Licence will provide Payment Network International with a full-scale opportunity to cater to the Australian eCommerce market. Our experience internationally will guide our path to success in Australia."

The milestone has arrived with great timing for PNI's most recently launched brand, China Payment Services (CPS). The CPS group allows eCommerce operators to accept UnionPay card payments from Chinese customers in Renminbi and settle in their choice of currency, an option previously made challenging for international merchants. Given that there are more UnionPay cards on issue worldwide than other major cards, with most of these cards on issue in China, accepting online payments via the CPS payment gateway appears to be the next big move to be made by companies across Australia.

Contacts

Payment Network International / China Payment Services

Chantelle Baguley, +61 7 3113 4029

info@pni.com.au/ info@chinapaymentservices.com

www.pni.com.au/ www.chinapaymentservices.com

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