Ray Yi and Patrick Lin also join ChinaPNR as firm gathers its high-end global management team

China Payment and Remittance Service (ChinaPNR), a leading payment service provider based in China, today announced that global payment services legend Charles T. Fote, former chairman and chief executive officer of First Data Corp. (FDC), will take on the role of senior consultant at ChinaPNR.

FDC, a global leader in payment processing technology services, was ranked 236 amongst Fortune 500 companies in 2011. Serving 6.2 million merchant locations and handling over 60 billion transactions annually, FDC reported revenue of more than US$10 billion in 2011 and has established a presence in 35 countries and regions worldwide. Prior to joining FDC in 1975, Charles T. Fote worked at American Express. During his 30-year tenure at FDC, he served as COO, president, CEO and chairman, playing a major role in the pioneering development and improvement of several operations including collection, card issuance and remittance as well as in the development of industry regulations. With Fote at the helm, other than payment gateway and exchange, FDC has become an industry magnate across all segments of the payment services industry. Fote is also well-known and recognized as the leading executive across the entire payment services sector in the US.

At the invitation of ChinaPNR president Zhou Ye, Fote will join ChinaPNR, further helping the company take advantage of the world’s leading payment technologies and well-established financial service models, while guiding the company as it broadens its global strategy and improves management.

ChinaPNR also announced the appointments of two other key executives. Ray Yi will assume the role of senior vice president overseeing corporate finance, strategies, legal issues, marketing and government affairs, while Patrick Lin will take on the position of chief information officer responsible for the management of IT.

Before joining ChinaPNR, Ray Yi was group vice president at China’s largest B2C e-commerce firm 360buy, leading the company’s strategy in investing and in research and planning while overseeing government affairs and marketing. Prior to that, for several years, he held a senior executive position at technology world leader Huawei Technologies. Patrick Lin was managing director at SunGard Global Technology, China. Earlier, he served in an executive role at China Hewlett-Packard. Both executives have excellent track records with notable achievements during their careers and are hugely respected in their fields.

“I’m excited about Charles T. Fote, Ray Yi and Patrick Lin joining our firm. With their wealth of experience and excellent leadership, I believe they will help boost the rapid and stable development of ChinaPNR. I’m looking forward to a new chapter in the payment services industry for our company led by a new management team,” said ChinaPNR President Zhou Ye.