Business
RHCO ANNOUNCES THE SIGNING OF LETTER OF INTENT TO ACQUIRE MAJORITY STAKE OF ECOOLEX
RHCO ANNOUNCES THE SIGNING OF LETTER OF INTENT TO ACQUIRE MAJORITY STAKE OF ECOOLEX.
About this update from Readen Holding Corp.
[{"type":"text","content":"Readen Holding Corp. (OTC: RHCO), a Venture Capital Corporation, today announced the signing of a Letter of Intent (LOI) for acquiring a majority stake in Ecoolex. The acquisition will get the Company’s OkeApp off to a flying start, as Ecoolex will instantly bring in existing merchants and partners, which include major network platforms, online travel agencies (OTAs) and financial institutions.As a cross-border consumer services and multi-channel provider, Ecoolex has pioneered traditional virtual card / voucher, cross-border payment, and created a cross-border consumer financial services platform with transactions of hundreds of millions of China RMB, through global financial institutions and network platforms. Ecoolex has signed multiple agreements with major players in the retail, travel and fintech industries as strategic partners, most notably Ctrip www.ctrip.com and UnionPay www.unionpayintl.com , etc., creating various discount and voucher programs for cross-border and overseas customers. These collaborations will be fully supported in OkeApp and OkePay, as both voucher and payment systems will be seamlessly integrated in a complete solution to benefit both Consumers and Merchants.OkeApp, the revolutionary super app launched by RHCO’s wholly owned subsidiary, Oke Partners, is a totally unique solution for Consumers and Merchants. As the Consumers will gain notable discounts using the OkeApp, no direct payment fees are applied to the participating Merchants. The Merchants will reap the benefits of online and offline marketing campaigns provided by the OkeApp. In addition, the OkePartners who contribute to recruiting Consumers, will get cash rewards with any transactions made by such Consumers through the OkeApp with the participated Merchants.RHCO originally forecasted to sign between 8,000 and 10,000 new Merchants on the OkeApp platform within the next twelve months in Hong Kong alone, which will eventually bring 4 million payment transactions per month. With the acquisition of, and joining forces with Ecoolex, OkeApp will be enhanced to welcome cross-border consumers from Mainland China and other countries, and pave the way for OkeApp to expand to other regions.The acquisition of Ecoolex will also further optimize the utilization of OkePay, a comprehensive back-end Payment Platform operated by RHCO, which accepts s...