<HTML>
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<TITLE>CURRENT REPORT FOR ASIA PAYMENT SYSTEMS, INC.</TITLE>
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<br>
<B><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>

<P ALIGN="CENTER">Washington, D.C.  20549</P>

<P ALIGN="CENTER">FORM 8-K</P>

<P ALIGN="CENTER">CURRENT REPORT</P></B>

<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of<BR>
the Securities Exchange Act of 1934</P>

<U><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>December 15, 2006</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>Date of Report (Date of earliest event reported)</P>

<BR>
<U><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>ASIA PAYMENT SYSTEMS, INC.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(Exact name of registrant as specified in its charter)</P>

<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="33%" VALIGN="TOP">
<B><U><P ALIGN="CENTER">Nevada</B></U></TD>
<TD WIDTH="36%" VALIGN="TOP">
<B><U><P ALIGN="CENTER">000-30013</B></U></TD>
<TD WIDTH="31%" VALIGN="TOP">
<B><U><P ALIGN="CENTER">98-0204780</B></U></TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">(State or other jurisdiction</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P ALIGN="CENTER">(Commission File Number)</TD>
<TD WIDTH="31%" VALIGN="TOP">
<P ALIGN="CENTER">(IRS Employer</TD>
</TR>
<TR><TD WIDTH="33%" VALIGN="TOP">
<P ALIGN="CENTER">of incorporation)</TD>
<TD WIDTH="36%" VALIGN="TOP">
<P ALIGN="CENTER">Identification No.)</TD>
<TD WIDTH="31%" VALIGN="TOP">&nbsp;</TD>
</TR>
</TABLE>
</CENTER></P>

<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">800 5<SUP>th</SUP> Avenue, Suite 4100<BR>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seattle, Washington 98104</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(Address of principal executive offices, including zip code)</P>
<P ALIGN="CENTER"></P>
<U><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>(206) 447-1379</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(Registrant<FONT FACE="WP TypographicSymbols">&#61;</FONT>
s telephone number, including area code)</P>
<P ALIGN="CENTER"></P>
<br>
<U><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(Former name or former address, if changed since last report)</P>
<P ALIGN="CENTER"></P>
<P>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="7%" VALIGN="TOP">
<P>[ &nbsp; ]</TD>
<TD WIDTH="93%" VALIGN="TOP">
<P>Written communications pursuant to Rule 425 under the Securities Act</TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="93%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">
<P>[ &nbsp; ]</TD>
<TD WIDTH="93%" VALIGN="TOP">
<P>Soliciting material pursuant to Rule 14a-12 under the Exchange Act</TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="93%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">
<P>[ &nbsp; ]</TD>
<TD WIDTH="93%" VALIGN="TOP">
<P>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act</TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="93%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">
<P>[ &nbsp; ]</TD>
<TD WIDTH="93%" VALIGN="TOP">
<P>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act</TD>
</TR>
</TABLE>

<p>&nbsp;</p>
<page>
<hr>

<br>
<B><P>ITEM 1.01 &nbsp; &nbsp; ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</P></B>

<P>On December 7, 2006, the acquisition and share exchange agreement with  InterPay International Group Ltd, as previously disclosed  on Form 8K filed on  June 1, 2006, was completed.</P>

<br>
<B><P>ITEM 7.01 &nbsp; &nbsp; REGULATION FD DISCLOSURE</P></B>

<P>The Company announced today that its wholly owned foreign enterprise in Shanghai, Asia Payment Systems (China) Co. Ltd. ("Asia Payments China")  has signed a binding agreement to acquire the business operations of Global Uplink Communications Ltd. ("Global Uplink China"), a Chinese company based in Guangzhou, Guangdong Province, China, and at the same time, its wholly owned subsidiary in Hong Kong, Asia Payment Systems (Hong Kong) Ltd. ("Asia Payments HK"), has signed a definitive agreement to acquire Global Uplink Ltd. ("Global Uplink HK"), a Hong Kong incorporated company owned by the shareholders of Global Uplink China. </P>

<br>
<B><P>ITEM 9.01 &nbsp; &nbsp; FINANCIAL STATEMENTS AND EXHIBITS</P></B>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="14%" VALIGN="TOP" COLSPAN=2>
<B><P>Exhibit No. </B></TD>
<TD WIDTH="86%" VALIGN="TOP">
<B><P>Document Description</B></TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="86%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="7%" VALIGN="TOP">
<P>99.1 </TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="86%" VALIGN="TOP">
<P>Press Release</TD>
</TR>
</TABLE>


<P>&nbsp;</P>
<B><P ALIGN="CENTER">SIGNATURES</P></B>

<P>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="47%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>
<B><U><P>ASIA PAYMENT SYSTEMS, INC.</B></U></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>
<P>(Registrant)</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="53%" VALIGN="TOP" COLSPAN=2>&nbsp;</TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>Date:<U> December 15, 2006</U></TD>
<TD WIDTH="7%" VALIGN="TOP">
<P>By: </TD>
<TD WIDTH="46%" VALIGN="TOP">
<U><P>CHARLIE RODRIGUEZ</U></TD>
</TR>
<TR><TD WIDTH="47%" VALIGN="TOP">
<P>       </TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>Charlie Rodriguez, Secretary and Director</TD>
</TR>
</TABLE>
</CENTER></P>


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{"company-data": {"conformed-name": "ASIA PAYMENT SYSTEMS INC", "cik": "0001085113", "assigned-sic": "7389", "irs-number": "980204780", "state-of-incorporation": "NV"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-30013", "film-number": "061281328"}, "business-address": {"street1": "405 LEXINGTON AVENUE", "street2": "26TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10174", "phone": "2129076514"}, "mail-address": {"street1": "405 LEXINGTON AVENUE", "street2": "26TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10174"}, "former-company": [{"former-conformed-name": "ASIA PAYMENT SYSTEMS", "date-changed": "20040302"}, {"former-conformed-name": "ASIAN ALLIANCE VENTURES INC", "date-changed": "20000203"}]}
CURRENT REPORT FOR ASIA PAYMENT SYSTEMS, INC.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
December 15, 2006
Date of Report (Date of earliest event reported)
ASIA PAYMENT SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Nevada
000-30013
98-0204780
(State or other jurisdiction
(Commission File Number)
(IRS Employer
of incorporation)
Identification No.)
800 5
th
Avenue, Suite 4100
Seattle, Washington 98104
(Address of principal executive offices, including zip code)
(206) 447-1379
(Registrant
=
s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[   ]
Written communications pursuant to Rule 425 under the Securities Act
[   ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[   ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
[   ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
ITEM 1.01     ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On December 7, 2006, the acquisition and share exchange agreement with  InterPay International Group Ltd, as previously disclosed  on Form 8K filed on  June 1, 2006, was completed.
ITEM 7.01     REGULATION FD DISCLOSURE
The Company announced today that its wholly owned foreign enterprise in Shanghai, Asia Payment Systems (China) Co. Ltd. ("Asia Payments China")  has signed a binding agreement to acquire the business operations of Global Uplink Communications Ltd. ("Global Uplink China"), a Chinese company based in Guangzhou, Guangdong Province, China, and at the same time, its wholly owned subsidiary in Hong Kong, Asia Payment Systems (Hong Kong) Ltd. ("Asia Payments HK"), has signed a definitive agreement to acquire Global Uplink Ltd. ("Global Uplink HK"), a Hong Kong incorporated company owned by the shareholders of Global Uplink China.
ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS
Exhibit No.
Document Description
99.1
Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ASIA PAYMENT SYSTEMS, INC.
(Registrant)
Date:
December 15, 2006
By:
CHARLIE RODRIGUEZ
Charlie Rodriguez, Secretary and Director
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