FinTech Chain gained 11.8 percent in the ASX today after signing with Tianshan Rural Credit Bank of Xinjiang Autonomous Region.
TRCB subscribed to Fintech’s growing T-Linx payment platform for a three-month trial. T-Linx platform provides cloud-based services for payments through China-based debit, credit, and WeChat.
T-Linx also aggregates sales data for merchants. Total sales revenue through T-Linx, are shared between the merchants, banks, and FinTech.
TRCB is currently subscribed to the platform under a $6,288 monthly fee. The fee is open to increasing pending customer flow.
“The above special award program with TRCB provides a strong foundation for the use of FTC’s T-Linx system in the travel and entertainment industry and demonstrates our active relationship with Rural Credit Bank and its affiliates under our mutual principal agreement signed in Beijing in February 2019,” said FinTech Chairman Qiang Xiong.
The announcement comes just a week after signing with Hunan Xingsha Rural Commercial Bank (XRCB), expected to generate the company 0.02 percent revenue per transaction.
FinTech reported $1.8 million worth of transaction daily from XRCB after three months of use.