NEW YORK, Aug. 06, 2020 (GLOBE NEWSWIRE) -- In a release issued on Wednesday, August 5th, by Weyland, Tech. (OTCQX: WEYL), the text in the headline and body have been corrected. The corrected release follows:
Weyland Techs AtozGo Launch Co-Marketing Campaign for Food Delivery Service in Jakarta with ShopeePay
Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of eCommerce, mCommerce, and fintech business enablement solutions, has partnered with ShopeePay, Indonesias integrated e-money services, to launch a marketing campaign for Weylands fast-growing AtozGo food delivery service in Jakarta.
As recently announced, the partnership between AtozGo and ShopeePay will allow AtozGo users to transact in-app using ShopeePay. Through this integration, AtozGo will benefit from hundreds of thousands of merchants and millions of users already on the ShopeePay platform. As part of the new joint marketing campaign, ShopeePay is offering its users a 30% discount on AtozGo orders during the first month from launch.
The AtozGo mobile app is also being updated to include a new option for paying for deliveries using ShopeePays mobile fintech technology.
The formation and launch of our new co-marketing campaign with ShopeePay is a huge win for AtozGo and demonstrates our unique value proposition for both partners and customers alike, noted Djunaedy Hermawanto, CEO of Weyland Indonesia Perkasa, the local operator of AtozGo.
Our rapid growth reflects our unique approach to the market, which includes being 100% pedestrian-powered and driven by the entrepreneurial spirit of our delivery people, continued Hermawanto. We now expect an even greater acceleration with our new ShopeePay partnership.
AtozGo has now attracted more than 1,000 delivery people, up from 680 in March, by offering flexible hours and unlimited income potential. Merchants are also increasingly joining AtozGo, now at more than 35,000, up 9,000 over just the last few weeks. The increase in merchants provides AtozGo customers a greater selection of household products and services, with this driving larger and more frequent orders.
ShopeePay has also been increasing in popularity. A survey conducted by M2insights in January revealed that ShopeePay has become one of the top five e-wallets in Indonesia, and nearly 40% of respondents were using ShopeePay to transfer funds and make electronic payments. M2insights covered the new ShopeePay/AtozGo partnership in an article published on July 9.
We expect our mutual platform integration with ShopeePay and especially the new co-marketing campaign to raise our profile in the industry and attract other valuable partnerships, added Hermawanto. We also see the integrations supporting the expansion of AtozGo into other urban areas in Southeast Asia where ShopeePay has already built a large user base.
Statista reports that online food delivery business in Indonesia is expected to reach $1.95 billion in 2020, and continue to grow at a 11.5% compounded annual growth rate to $3.02 billion by 2024. Weylands success with AtozGo and ShopeePay has validated Weylands entry into Indonesia as one of only a handful of U.S. publicly traded companies focused on this hyper-growth emerging market.
According to the e-Conomy SEA 2019 report by Google, Temasek, and Bain, Indonesias Internet economy was worth $40 billion in 2019 and will grow more than threefold by 2025. Bank Indonesia, the countrys central bank, reported that the total value of e-wallet transactions increased from $3.2 billion in 2018 to $10.45 billion in 2019. The Asian Banker report projects it will exceed $15 billion in 2020.
About ShopeePaySeaMoney Indonesia was founded in November 2015 and is part of the Sea Group. SeaMoney has an electronic money product with the trademark ShopeePay which was granted a Bank Indonesia license in August 2018 and was officially launched in November 2018. ShopeePay can be used as one of the payment methods on Indonesia's largest e-commerce platform, Shopee.
To meet the needs of users and expand payment access easily, since October 2019, ShopeePay has launched payments for merchants who do not have a store at Shopee though. ShopeePay has collaborated with various merchants such as food & beverage, retail, and various other services to receive payments using ShopeePay. Shopping online and shopping directly at merchants is now even easier with the benefits of ShopeePay.
About Weyland Tech
Weyland Tech, Inc. (OTCQX: WEYL) is a U.S.-based leading global provider of eCommerce, mCommerce, and fintech business enablement solutions. Its CreateApp platform-as-a-service enables small-and-medium sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. CreateApp empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. CreateApp is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging markets in Southeast Asia.
Weylands subsidiary, Logiq Inc., provides a data-driven, end-to-end eCommerce marketing solution for enterprises and major U.S. brands, like Home Advisor, QuinStreet and Sunrun. The AI-powered LogiqX data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The companys AtozPay subsidiary offers mobile payments, e-wallet, and the AtozGo hyper-local food delivery services in Indonesia, which has the fastest-growing mobile economy in Southeast Asia. For more information about Weyland Tech, go to weyland-tech.com.
Important Cautions Regarding Forward Looking Statements
This press release contains certain forward-looking statements relating to the business of the Company. All statements, other than statements of historical fact included herein are forward-looking statements including statements regarding: the adoption of our product offerings by SMBs and other businesses; the ability of the Company to successfully integrate the assets of Logiq, the continued growth of the eCommerce segment and the ability of the Company to continue its expansion into that segment; the ability of the Company to attract customers and partners and generate revenues; the ability of the Company to successfully execute its business plan; the business strategy, plans, and objectives of the Company; the continued use and success of AtozGo and AtozPay; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as believes, expects or similar expressions and involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks, and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. The Companys actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Companys periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume any duty to update these forward-looking statements.
LogiqX is a trademark of Logiq, Inc. All rights reserved.
Company Contact
Brent Suen, CEO
Weyland Tech Inc.
Email contact
Media & Investor Contact
Ronald Both or Grant Stude
CMA Investor & Media Relations
Tel (949) 432-7566
WEYL@cma.team
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CORRECTING and REPLACING Weyland Tech Inc. Other OTC:WEYL - GlobeNewswire