Business
WeChat Pay Agency Agreement
WeChat Pay Agency Agreement.
About this update from Sealand Capital Galaxy Ltd.
[{"type":"text","content":"\n \nRNS Number : 2631Q Sealand Capital Galaxy Limited 08 September 2017 \n\nNot for release, publication or distribution, directly or indirectly, in whole or in part in or into the United States or any jurisdiction other than the United Kingdom and the Cayman Islands where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation or sale would constitute a contravention of the relevant laws or regulations of such jurisdiction.\n \n \n8 September 2017\n \nSEALAND CAPITAL GALAXY LIMITED (LSE: SCGL)\n(\"Sealand\", or \"the Company\")\n \n \nWeChat Pay Agency Agreement \n \nSealand, (LSE: SCGL), which is engaged in the investment and acquisition of IT and social media businesses in the APAC region with high growth potential, is pleased to announce it has signed an agreement to become a party to a licenced operator agency agreement of WeChat Pay services in Hong Kong. \n \nThe Company will be collaborating with two partners, which will provide the licencing 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.\n \nThis is the second announcement by the Company in the past 40 days which clearly highlights the board's strategy to diversify the business offering within the mobile payment gateway sector in order to enhance revenue streams. Further, 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. \n \nWeChat 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...