<HTML>
<HEAD>
<TITLE>Form 8-K for Asia Payment Services, Inc.</TITLE>
</HEAD>
<BODY>


<P>&nbsp;</P>
<P>==================================================================================</P>

<P>&nbsp;</P>

<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<br>

<P ALIGN="CENTER">Date of Report (Date of earliest event reported): <B>March 30, 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>

<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>==================================================================================</P>
<page>
<hr>


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

<br>
<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="14%" VALIGN="TOP" HEIGHT=24>
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=24>
<B><P>Exhibit<hr></B></TD>
<TD WIDTH="73%" VALIGN="TOP" HEIGHT=24>
<B><P>Document Description<hr></B></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3 HEIGHT=24>
</TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP" HEIGHT=24>
<P>&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP" HEIGHT=24>
<P>99.1</TD>
<TD WIDTH="73%" VALIGN="TOP" HEIGHT=24>
<P>Press Release</TD>
</TR>
</TABLE>


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

<P>Asia Payment Systems, Inc. announced that it has signed a Memorandum of Understanding (MOU) with Beijing Sunkart Investment Management Co. Ltd. (Beijing Sunkart) to jointly investigate the commercial, technical and legal issues relating to the launch of a co-branded VIP Card service for the government employee and commercial sectors in China.</P>

<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P ALIGN="CENTER">-2-</P>
<page>
<hr>

<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>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH=680>
<TR><TD WIDTH="54%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">
<B><P>ASIA PAYMENT SYSTEMS, INC.<br>
</B>(Registrant)</TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2 HEIGHT=11>
<P>&nbsp;</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP">
<B><P>Date: April 1, 2004</B></TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>/s/ John Fraser</TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP">
<P>&nbsp;</TD>
<TD WIDTH="46%" VALIGN="TOP">
<P>John Fraser, Vice-President and Principal Financial Officer</TD>
</TR>
</TABLE>


<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P>&nbsp;</P>
<P ALIGN="CENTER">-3-</P>
<page>
<hr>
</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "aavi8k040104.htm", "description": "FORM 8-K FOR ASIA PAYMENT SERVICES, INC.", "secsgml_size_bytes": 3876}]
{"company-data": {"conformed-name": "ASIA PAYMENT SYSTEMS", "cik": "0001085113", "assigned-sic": "6770", "irs-number": "980204780", "state-of-incorporation": "NV"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-30013", "film-number": "04709671"}, "business-address": {"street1": "1000 355 BURRARD STREET", "city": "VANCOUVER B C CANADA", "state": "A1", "zip": "00000", "phone": "2507663507"}, "former-company": {"former-conformed-name": "ASIAN ALLIANCE VENTURES INC", "date-changed": "20000203"}}
Form 8-K for Asia Payment Services, 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):
March 30, 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 7.       FINANCIAL STATEMENTS AND EXHIBITS
Exhibit
Document Description
99.1
Press Release
ITEM 9.       REGULATION FD DISCLOSURE
Asia Payment Systems, Inc. announced that it has signed a Memorandum of Understanding (MOU) with Beijing Sunkart Investment Management Co. Ltd. (Beijing Sunkart) to jointly investigate the commercial, technical and legal issues relating to the launch of a co-branded VIP Card service for the government employee and commercial sectors in China.
-2-
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: April 1, 2004
/s/ John Fraser
John Fraser, Vice-President and Principal Financial Officer
-3-