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   <TITLE>Current Report for Cardtrend International Inc. for January 21, 2008.</TITLE>
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<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</FONT></FONT></B></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>Washington, D.C. 20549</FONT></FONT></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3>FORM 8-K</FONT></FONT></B><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=3>CURRENT REPORT</FONT></FONT></FONT></B></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=3>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</FONT></FONT></FONT></B></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>Date of Report (Date of earliest event reported): January 21, 2008</FONT></FONT></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=3>CARDTREND INTERNATIONAL INC.</FONT></FONT></FONT></B><BR>
<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>(Exact name of registrant as specified in its charter)</FONT></FONT></P>
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     <TD noWrap align=center width="33%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=3>Nevada</FONT>&nbsp;</FONT></FONT></B></TD>
     <TD noWrap align=center width="34%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=3>000-30013</FONT>&nbsp;</FONT></FONT></B></TD>
     <TD noWrap align=center width="32%"><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=3>98-0204780</FONT>&nbsp;</FONT></FONT></B></TD></TR>
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     <TD noWrap align=center width="33%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>(State of Other Jurisdiction of&nbsp;</FONT></FONT></TD>
     <TD noWrap align=center width="34%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>(Commission File Number)&nbsp;</FONT></FONT></TD>
     <TD noWrap align=center width="32%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>(IRS Employer Identification&nbsp;</FONT></FONT></TD></TR>
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     <TD noWrap align=center width="33%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=3>Incorporation)</FONT>&nbsp;</FONT></FONT></TD>
     <TD noWrap align=left width="34%"><FONT size=3>&nbsp;</FONT></TD>
     <TD noWrap align=center width="32%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=3>Number)</FONT>&nbsp;</FONT></FONT></TD></TR></TABLE></DIV><BR>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3>800 5<B><SUP><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=3>th</FONT></SUP></B> <FONT face="TimesNewRomanPS-BoldMT,Times New &#13;&#10;Roman,Times,serif" size=3>Avenue , Suite 4100, Seattle, Washington 98104<BR>
</FONT></FONT></FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>(Address of principal executive offices)</FONT></FONT></P>
<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif" size=2><FONT size=3>(206) 447-1379<BR>
</FONT></FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>(Registrant's telephone number, including area code)</FONT></FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>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 (see General Instruction A.2. below):</FONT></FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)</FONT></FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>[&nbsp;&nbsp; ]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR </FONT></FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>240.14d -2(b))</FONT></FONT></P>
<P align=left><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>[&nbsp; &nbsp;]&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR </FONT></FONT><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif" size=2><FONT size=3>240.13e -4(c)</FONT>)</FONT></P>
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<P align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ITEM 1.01</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</FONT></B></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">As used in this report, "we", "us", "our", and the "Company" refer to Cardtrend International Inc. (Formerly Asia Payment Systems, Inc.), a Nevada corporation.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On December 7, 2006, the Company filed a Form 8K reporting that that it had signed a business alliance agreement (&#147;BAA&#148;) with SMS Biz Sdn. Bhd. ("SMSBIZ") and its shareholders ("SMSBIZ Shareholders"). SMSBIZ is an established provider of prepaid telecommunications services and products in Malaysia. The alliance with SMSBIZ will enable the Company to more rapidly penetrate the Asian prepaid markets. The BAA called for: (i) one of the Company&#146;s wholly owned subsidiary in Malaysia, Payment Business Solutions Sdn. Bhd. (&#147;PBS&#148;), to become the primary distributor for SMSBIZ; and, (ii) the SMSBIZ Shareholders to grant the Company a 3-year option (&#147;Option&#148;) to acquire 100% of their shareholdings in SMSBIZ for a consideration of 5 million shares of the Company&#146;s restricted common stock issued by the Company; and, conditional upon certain events and undertakings, an additional 2 million shares of the Company&#146;s restricted common stock upon exercise of the Option. Subsequent to the signing of the BAA, PBS was appointed as the primary distributor of SMSBIZ&#146;s products.</FONT></P>
<P align=left>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">On January 21, 2008, the Company executed a share exchange agreement (&#147;SEA&#148;), with the SMSBIZ Shareholders, for a total of 7 million shares of the Company&#146;s restricted common stock (&#147;Shares&#148;) in exchange for 100% of SMSBIZ Shareholders&#146; shareholdings in SMSBIZ. Pursuant to the SEA, 3 million Shares will be issued and delivered to the SMSBIZ Shareholders upon the closing of the SEA within 90 days from the date of the SEA, and 4 million Shares will be released to the SMSBIZ Shareholders on a quarterly basis at a rate of 10 Shares for every US$1.00 equivalent of pre-tax profit that SMSBIZ may earn, commencing from the date of closing of the SEA, until the 4 million Shares are fully released or the end of 20 quarters from the date of closing (&#147;End Date&#148;), whichever is the sooner. Should there remain any unreleased Shares after the End Date, the Company shall be entitled to buy, and the SMSBIZ Shareholders shall sell, such Shares at US$0.001 per Share.</FONT></P>
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ITEM 9.01</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FINANCIAL STATEMENTS AND EXHIBITS</FONT></B></P>
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     <TD noWrap align=left width="30%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(c) Exhibits</FONT>&nbsp; </TD>
     <TD noWrap align=left width="54%">&nbsp; </TD></TR>
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     <TD width="84%" colSpan=2>&nbsp; </TD></TR>
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     <TD noWrap align=left width="30%">&nbsp; <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibit No.</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </TD>
     <TD noWrap align=left width="54%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Description</FONT>&nbsp; </TD></TR>
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     <TD noWrap align=left width="30%">&nbsp;<FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">99.1</FONT>&nbsp; </TD>
     <TD noWrap align=left width="54%"><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Press Release</FONT>&nbsp; </TD></TR></TABLE><BR>
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<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">2</FONT></P>
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<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SIGNATURES</FONT></B></P>
<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">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.</FONT></P>
<P style="MARGIN-LEFT: 50%" align=left><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif"><BR>
CARDTREND INTERNATIONAL INC.<BR>
</FONT></B><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">(Registrant)</FONT></P>
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Date: January 25, 2008&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;By:&nbsp; <U>CHARLIE RODRIGUEZ</U><BR>
&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;&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;</FONT> <FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Charlie Rodriguez, Secretary and Director</FONT></P>
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<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">3</FONT></P>
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<P align=center><B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">EXHIBIT INDEX</FONT></B></P>
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<P><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Exhibit No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;<BR>
<BR>
99.1</FONT></P>
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     <TD width="51%">
<P><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Description </FONT></P>
<P><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">Press Release</FONT></P>
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<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif"></FONT>&nbsp;</P>
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<P align=center><FONT face="TimesNewRomanPSMT,Times New Roman,Times,serif">4</FONT></P>
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{"company-data": {"conformed-name": "CARDTREND INTERNATIONAL 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": "08551828"}, "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 INC", "date-changed": "20050811"}, {"former-conformed-name": "ASIA PAYMENT SYSTEMS", "date-changed": "20040302"}, {"former-conformed-name": "ASIAN ALLIANCE VENTURES INC", "date-changed": "20000203"}]}
Current Report for Cardtrend International Inc. for January 21, 2008.
UNITED STATES 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
Date of Report (Date of earliest event reported): January 21, 2008
CARDTREND INTERNATIONAL INC.
(Exact name of registrant as specified in its charter)
Nevada
000-30013
98-0204780
(State of Other Jurisdiction of
(Commission File Number)
(IRS Employer Identification
Incorporation)
Number)
800 5
th
Avenue , Suite 4100, Seattle, Washington 98104
(Address of principal executive offices)
(206) 447-1379
(Registrant's telephone number, including area code)
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 (see General Instruction A.2. below):
[   ]      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[   ]      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d -2(b))
[   ]      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e -4(c)
)
ITEM 1.01
ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
As used in this report, "we", "us", "our", and the "Company" refer to Cardtrend International Inc. (Formerly Asia Payment Systems, Inc.), a Nevada corporation.
On December 7, 2006, the Company filed a Form 8K reporting that that it had signed a business alliance agreement ("BAA") with SMS Biz Sdn. Bhd. ("SMSBIZ") and its shareholders ("SMSBIZ Shareholders"). SMSBIZ is an established provider of prepaid telecommunications services and products in Malaysia. The alliance with SMSBIZ will enable the Company to more rapidly penetrate the Asian prepaid markets. The BAA called for: (i) one of the Company's wholly owned subsidiary in Malaysia, Payment Business Solutions Sdn. Bhd. ("PBS"), to become the primary distributor for SMSBIZ; and, (ii) the SMSBIZ Shareholders to grant the Company a 3-year option ("Option") to acquire 100% of their shareholdings in SMSBIZ for a consideration of 5 million shares of the Company's restricted common stock issued by the Company; and, conditional upon certain events and undertakings, an additional 2 million shares of the Company's restricted common stock upon exercise of the Option. Subsequent to the signing of the BAA, PBS was appointed as the primary distributor of SMSBIZ's products.
On January 21, 2008, the Company executed a share exchange agreement ("SEA"), with the SMSBIZ Shareholders, for a total of 7 million shares of the Company's restricted common stock ("Shares") in exchange for 100% of SMSBIZ Shareholders' shareholdings in SMSBIZ. Pursuant to the SEA, 3 million Shares will be issued and delivered to the SMSBIZ Shareholders upon the closing of the SEA within 90 days from the date of the SEA, and 4 million Shares will be released to the SMSBIZ Shareholders on a quarterly basis at a rate of 10 Shares for every US$1.00 equivalent of pre-tax profit that SMSBIZ may earn, commencing from the date of closing of the SEA, until the 4 million Shares are fully released or the end of 20 quarters from the date of closing ("End Date"), whichever is the sooner. Should there remain any unreleased Shares after the End Date, the Company shall be entitled to buy, and the SMSBIZ Shareholders shall sell, such Shares at US$0.001 per Share.
ITEM 9.01
FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit No.
Description
99.1
Press Release
2
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.
CARDTREND INTERNATIONAL INC.
(Registrant)
Date: January 25, 2008                                                                                                        By:
CHARLIE RODRIGUEZ
Charlie Rodriguez, Secretary and Director
3
EXHIBIT INDEX
Exhibit No.
99.1
Description
Press Release
4