- September 8, 2017
LONDON (Alliance News) – Sealand Capital Galaxy Ltd on Friday signed an agreement to become a party to a licenced operator agency agreement of WeChat Pay services in Hong Kong.
WeChat is a mobile messenger app owned by Chinese internet giant Tencent and “dominates the Chinese mobile messenger market.” Its WeChat Pay facility has 600 million users and is one of the market leaders in face-to-face payment transactions in China. WeChat Pay transactions in 2016 totalled USD1.2 trillion, according to the company.
Two partners will provide the licensing and payment gateway services, whilst Sealand, through its wholly-owned subsidiary, ePurse (HK) Ltd, is appointed as non-exclusive broker providing merchant marketing service to introduce new QR code payment customers to the WeChat Pay platform.
“While this new agreement is specifically for Hong Kong, the board has already commenced discussions with potential business partners to launch a UK mobile payment gateway to enable Chinese visitors to this country the power to make payments via their mobile devices, rather than by credit card,” said Sealand.
Sealand shares were up 1.1% at 9.1 pence on Friday.
By Joshua Warner; [email protected]; @JoshAlliance
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