Many ASX listed companies entering China target the major cities as the country continues to urbanise.

But FinTech Chain (ASX: FTC) has gone beyond the cities and is now active in China’s most rural province – Heilongjiang. FinTech Chain’s latest agreement is with Huanan Rural Credit Union to deploy its T-Linx system.

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T-Linx is a payment at point-of-sale system. It’s linked to customer bank accounts, and can accept cryptocurrencies.

FinTech Chain now counts over 400 banks within China as clients and it is indirectly serving over 4 million merchants. It has no shortage of larger clients, including Ping An and China Merchants Bank but you won’t find many other small caps entering Heilongjiang.

Heilongjiang’s location within China (Pic: World Atlas)

FinTech Chain president Quincent Leung was proud to announce the deal noting Huanan RCU was a popular rural bank and it shared similar innovation values.

“The agreement will enable FTC to further illustrate how reliable and secured the banking payments solutions by deployment of T-Linx in the banking network can put Huanan RCU ahead of their [sic] peers and provide significant efficiencies,” he said.

FinTech jumped another 4 per cent this morning and the stock gained 261 per cent in 2019.


In other ASX small cap tech news today…

Splitit Payments (ASX: SPT) has announced its latest partnership as competition heats up with its buy-now-pay-later peers Sezzle (ASX: SZL), Zip (ASX: Z1P) and Afterpay (ASX: APT). Splitit is now a payment solution for the users of music software Ableton. CEO Gil Don lauded the deal, labelling Ableton as “the best music software in the industry”.

Remember ServTech (ASX: SVT), the company helping Volvo customers design their car interiors through virtual reality? Now it is entering the logistics industry, signing a partnership with Italian computing solutions firm Alfacod which has a large network of clients. ServTech hopes to implement a VR-powered ‘Optimised Picking’ software to increase process efficiency and quality.

Despite only announcing the deal this morning, Alfacod president Giorgio Solferini said his firm wanted to extend the initial engagement. “We firmly believe that VR & AR technologies will be increasingly adopted across a variety of industries in which our clients operate,” he said.