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<TITLE>Form 8-K for Asia Payments Systems, Inc.</TITLE>
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<B><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C. 20549</P>

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

<P ALIGN="CENTER">Current Report Pursuant to Section 13 or 15(d) of<br>
The Securities Exchange Act of 1934</P>

<P ALIGN="CENTER">Date of Report (Date of earliest event reported): <B>May 14, 2004</P></B>

<B><P ALIGN="CENTER">ASIA PAYMENT SYSTEMS, INC.<br>
</B>(Exact name of Registrant as specified in its charter)</P>

<br>
<P ALIGN="CENTER"><CENTER><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="35%" VALIGN="TOP">
<B><P ALIGN="CENTER">NEVADA</B></TD>
<TD WIDTH="31%" VALIGN="TOP">
<B><P ALIGN="CENTER">000-30013</B></TD>
<TD WIDTH="35%" VALIGN="TOP">
<B><P ALIGN="CENTER">98-0204780</B></TD>
</TR>
<TR><TD WIDTH="35%" VALIGN="TOP">
<P ALIGN="CENTER">(State or other jurisdiction of incorporation or organization)</TD>
<TD WIDTH="31%" VALIGN="TOP">
<P ALIGN="CENTER">(Commission File Number)</TD>
<TD WIDTH="35%" VALIGN="TOP">
<P ALIGN="CENTER">(I.R.S. Employer Identification No.)</TD>
</TR>
</TABLE>
</CENTER></P>


<br>
<B><P ALIGN="CENTER">800 5<SUP>th</SUP> Avenue <br>
Suite 4100<br>
Seattle, Washington 98104<br>
</B>(Address of principal executive offices)</P>

<br>
<B><P ALIGN="CENTER">(206) 447-1379<br>
</B>(Registrant's telephone number, including area code)</P>

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

<br>
<B><P>ITEM 5. &nbsp; &nbsp; &nbsp; OTHER EVENTS</P></B>

<DD><P>Phillip Jennings resigned as a member of the Board of Directors on May 13, 2004.  Mr. Jennings did not have any disagreements with us concerning our operations, policies, or practices.</P></DD>

<br>
<B><P>ITEM 7. &nbsp; &nbsp; &nbsp; EXHIBITS AND FINANCIAL STATEMENTS</P></B>

<DIR><TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=600>
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<P>&nbsp;</TD>
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<B><P>Exhibit No.<hr></B></TD>
<TD WIDTH="77%" VALIGN="TOP">
<B><P>Description<hr></B></TD>
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<TR><TD WIDTH="8%" VALIGN="TOP">
</TD>
<TD WIDTH="15%" VALIGN="TOP">
<P>99.1 </TD>
<TD WIDTH="77%" VALIGN="TOP">
<P>Press Release</TD>
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</DIR>

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<br>
<B><P>ITEM 9. &nbsp; &nbsp; &nbsp; REGULATION FD DISCLOSURE</P></B>

<DD><P>Asia Payment Systems, Inc. announced today that Benny Lee has been appointed to the Asia Pay Board of Directors.  Benny Lee has extensive experience in senior marketing and operational positions with MasterCard International and American Express.</P></DD>

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

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


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<P>&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">
<B><P>ASIA PAYMENT SYSTEMS, INC.<br>
</B>(Registrant)</TD>
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<TR><TD VALIGN="TOP" COLSPAN=2 HEIGHT=11>
<P>&nbsp;</TD>
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<B><P>Date: &nbsp; May 14, 2004</B></TD>
<TD WIDTH="46%" VALIGN="TOP">

<P>/s/ John Fraser</TD>
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<P>&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>John Fraser, Vice President and a member of the Board of Directors</TD>
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<P ALIGN="CENTER">-2-</P>
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Form 8-K for Asia Payments 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
Date of Report (Date of earliest event reported):
May 14, 2004
ASIA PAYMENT SYSTEMS, INC.
(Exact name of Registrant as specified in its charter)
NEVADA
000-30013
98-0204780
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
800 5
th
Avenue
Suite 4100
Seattle, Washington 98104
(Address of principal executive offices)
(206) 447-1379
(Registrant's telephone number, including area code)
===================================================================================
ITEM 5.       OTHER EVENTS
Phillip Jennings resigned as a member of the Board of Directors on May 13, 2004.  Mr. Jennings did not have any disagreements with us concerning our operations, policies, or practices.
ITEM 7.       EXHIBITS AND FINANCIAL STATEMENTS
Exhibit No.
Description
99.1
Press Release
ITEM 9.       REGULATION FD DISCLOSURE
Asia Payment Systems, Inc. announced today that Benny Lee has been appointed to the Asia Pay Board of Directors.  Benny Lee has extensive experience in senior marketing and operational positions with MasterCard International and American Express.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
ASIA PAYMENT SYSTEMS, INC.
(Registrant)
Date:   May 14, 2004
/s/ John Fraser
John Fraser, Vice President and a member of the Board of Directors
-2-