Business
Strategy Update: Launch of ePurse (HK) Ltd
Strategy Update: Launch of ePurse (HK) Ltd.
About this update from Sealand Capital Galaxy Ltd.
[{"type":"text","content":"\n \nRNS Number : 9569H Sealand Capital Galaxy Limited 21 November 2018 \n\n \n \nSealand Capital Galaxy Limited\n \nStrategy Update: Launch of ePurse (HK) Ltd\n \nSealand Capital Galaxy Limited, (\"Sealand\", or the \"Company\") today updates the market on its new strategy. Sealand's focus has always been to invest in high growth technology, advertising and fintech businesses with a presence in both Asia and Europe. To that end the Company has a developed a range of services based on WeChat, a Chinese multi-purpose messaging, social media and mobile payment app developed by Tencent - the US$330bn* market value tech giant, based in China, with whom Sealand has a preferred partnership status. \n \nWeChat has 1.1 billion individual users, over 900 million plus of them are active users, who spend an average of 98 minutes each day on the application. Furthermore China ranks as the top tourism source market, with Chinese individuals making over 4.53 billion domestic and oversees trips in 2017. Chinese travelers are now the world's biggest spenders and conduct extensive searches via Chinese websites and social media to plan their holidays. The most actively used platform for this is WeChat.\n \nGiven that Internet censorship in China often blocks many commonly used social media platforms and apps such as Facebook, Instagram, YouTube and Google, WeChat is the best and most efficient way for merchants to target the Chinese market.\n \nCapitalizing on its special relationship with Tencent, Sealand's has formed a wholly-owned subsidiary, ePurse (HK) Ltd, which provides a range of services to merchants wishing to target Chinese consumers and tourists using WeChat Pay, WeChat Official Accounts and WeChat Advertising, or even advertising on other china digital media platforms. Specifically, the Company will roll out the WeChat business in multiple countries over coming months. It is already earning commissions from early WeChat Pay activities with 169 current retail merchants in Hong Kong and has now obtained official licenses to operate as a WeChat partner in both Dubai and the United Kingdom.\n \nSealand is excited about the opportunities for ePurse in these geographies, as millions of Chinese tourists flock to these countries each year, spending billions of ...