WTC to introduce TradeCard in Cyprus, Middle and Near East

World Trade Centers Holdings Cyprus Ltd, licensee of 15 World Trade Centers in Cyprus, Middle East and North Africa, concluded an exclusive agreement with TradeCard Inc. on September 6, to introduce the secure procurement-to-payment platform in Cyprus and 22 countries in the Middle East, North Africa and Near East.

The agreement was concluded in New York by Ghazi Abu Nahl, Chairman of World Trade Centers Holding (Cyprus) Ltd and Kurt Cavano, CEO of TradeCard Inc.

The deal includes an option for development in other countries in these regions that are considered very important trade hubs totaling an annual USD 1407 bln in trade transactions.

TradeCard manages procurement-to-payment worldwide between buyers, sellers and partners connected to a hosted, paperless platform. Processes are visible with innovative financial services that save costs and improve cash flow. No major capital expenditure is required, creating short-term return on investment.

A new holding company under the name of TradeCard Holdings (Cyprus) is being established which will act as the holding company for the various entities in the relevant regions. The company will be wholly owned by World Trade Centers Holdings (Cyprus) Ltd (www.wtchcy.org).