Business
ePurse Update
ePurse Update.
About this update from Sealand Capital Galaxy Ltd.
[{"type":"text","content":"\n \nRNS Number : 9335R Sealand Capital Galaxy Limited 06 March 2019 \n\nFor release: 07.00, 6 March 2019\n \nSealand Capital Galaxy Limited\n \nePurse Update\n \nSealand Capital Galaxy Limited, (\"Sealand\", or the \"Company\") is pleased to update the market today on its wholly-owned subsidiary, ePurse (HK) Ltd. ePurse provides a range of services to merchants wishing to target Chinese consumers and tourists using WeChat Pay, WeChat Official Accounts and WeChat Advertising. \n \nAt the time of its launch, ePurse was already earning commissions from early WeChat Pay activities and had a number of merchants in Hong Kong signed to its platforms. Today it is pleased to announce that number has now grown to 176 including the recent addition of a large number of blue chip merchants.\n \nThese include Subway (with a third of its retail outlets in Hong Kong using ePurse services); Kidsland LCS Limited (Hong Kong listed LEGO certified store); Madison Holdings Group Limited (Hong Kong listed wine seller); AUX International Holdings Limited (Hong Kong listed night club operator); Cookies Quartet Limited and In-Talk Limited, under the brand name of \"SauTao\" (both well-known tourist souvenir outlets); and Hong Kong Optical Company Limited (China's renowned eyewear brand).\n \nePurse is currently negotiating to obtain licenses to operate as a WeChat payment partner in both Dubai and the United Kingdom, where it currently already offers strategic marketing and advertising services. Once that process has concluded the rollout to merchants will begin in earnest in these territories, to target the spending power of the large number of Chinese tourists and the expat communities.\n \nNelson Law, Executive Chairman commented:\n\"Our success in Hong Kong shows that the model works and that there is an appetite among WeChat Pay users for quick, mobile payments, conversely merchants are looking for models to service that need.\n \n\"Chinese tourists made 134 million outbound trips in 2018 and are considered some of the world's biggest spenders. Added to that, WeChat has 1.1 billion users who spend an average of 98 minutes each day using the application, which is also used to plan holidays and trips; we believe Sealand is well placed to capitalize on this market.\"\n \n\"As a resul...