EXHIBIT 21.1

List Of Subsidiaries And Associated Companies Of

 Cardtrend International, Inc.

As At March 31, 2009

Name Of Subsidiaries Or Associated Companies					Country of Incorporation	Effective % Holding
Asia Payment Systems (HK) Ltd					Hong Kong, SAR, China		100%
Asia Payment Systems (China) Co. Ltd.					Shanghai, China		100%
Asia Payment Systems Pte. Ltd.					Singapore		100%
Welway Developments Ltd.					Hong Kong, SAR, China		100%
Cardtrend Systems Sdn. Bhd.					Kuala Lumpur, Malaysia		100%
Cardtrend Inc.					Nevada, USA		100%
Global Uplink Ltd.					Hong Kong, SAR, China		100%
Global Uplink Inc.					Nevada, USA		100%
Interpay International Group Ltd.					British Virgin Islands		100%
	Subsidiaries & Associated Companies of
	Interpay International Group Ltd.
	Interpay Asia Sdn. Bhd.				Kuala Lumpur, Malaysia		100%
	Interpay International Franchising Ltd.				British Virgin Islands		100%
	Intterpay International Associates Ltd.				British Virgin Islands		100%
	Interpay International Resources Ltd.				British Virgin Islands		100%
		Associated Companies of Interpay
		International Resources Ltd.
		Synergy Cards Sdn. Bhd.			Kuala Lumpur, Malaysia		20%
		iSynergy Sdn. Bhd.			Kuala Lumpur, Malaysia		20%
				Subsidiaries Of iSynergy Sdn. Bhd.
				RewardStreet.Com Sdn. Bhd.	Kuala Lumpur, Malaysia		20%
				Cosmocourt.com sdn. Bhd.	Kuala Lumpur, Malaysia		20%
				Datakey Sdn. Bhd.	Kuala Lumpur, Malaysia		20%
	Interpay International M-Commerce Pte. Ltd.				Singapore		100%
	Payment Business Solutions Sdn. Bhd.				Kuala Lumpur, Malaysia		100%
	Etop International Pte. Ltd.				Singapore		100%
			Subsidiary of Etop International Pte. Ltd.
			Etop Services (Malaysia) Sdn. Bhd.		Kuala Lumpur, Malaysia		60%