Weyland Tech Discusses Partnership to Access 99 Percent of Chinese Bank Customers
NEW YORK, NY, Jan. 09, 2018 (GLOBE NEWSWIRE) — Weyland Tech, Inc. (OTCQX: WEYL) (“Weyland” or “Company”), a provider of mobile business applications, is providing an update on the status of its initiative with China’s DDBill Payment Co., Ltd; the operators of China’s fourth largest payments gateway Dinpay (www.dinpay.com, English: us.dinpay.com); following up on the companies’ previously announced memorandum of understanding (“MOU”).
“Weyland Tech has received a number of inquiries regarding our recent MOU with Dinpay, so I wanted to spend some time discussing why we are excited to be working with them,” said Weyland CEO, Brent Suen, continuing, “Chinese travellers spent US$261 Billion overseas in 2016, double the spending of Americans. If we were just adding Dinpay access to our platforms to enable sales to those travellers in international markets that would be incredibly exciting in its own right. But our discussions with Dinpay are encompassing so much more. By replicating Dinpay’s offerings in Indonesia, and eventually other markets through our platforms we will be creating access to Chinese consumers for our vendors all over the world. Last year those Chinese consumers’ total consumption was US$4.4 Trillion in goods and services, it’s growing each year, and with open payment gateways our customers will be able to sell into that marketplace with both real and virtual goods.”
“As China’s economy continues to mature, the opportunity for international vendors to sell into the Chinese market will grow substantially. According to Dinpay’s metrics, 20% of their processing is for Chinese offshore purchases. By adding them to our digital mobile offerings, our customers will be able to engage Chinese customers travelling abroad, and perhaps more importantly be able to sell to Chinese consumers at home.”
“This means Chinese customers will have increasing access to international retail goods, but also international services and digital offerings. They will be able to buy anything anywhere; whether it’s luxury goods from Milan, art from Switzerland or jewelry from France but also online English lessons from US natives, or digital goods from online games to cryptocurrencies, all directly from their mobile devices and without having to open bank accounts in six countries.”
“Importantly, by working with one of the largest payment gateway providers in the world, Weyland customers will be able to theoretically sell to 99 percent of Chinese bank customers from day one. And by enabling these purchases Weyland will be in a position to drive substantial revenue growth from launch and over the long term as Chinese consumption grows.”
“Our teams have already been laying the technical foundations for working with DDBill’s team and I look forward to providing additional updates as the relationship develops.”
About DDBill Payment Co., Ltd
DDBill Payment Co., Ltd (also known as www.dinpay.com), established in September 29, 2007, is a private company providing professional and secure online payment solutions for the vast number of merchants, businesses and consumers. In June 2012, Dinpay obtained the “Payment Services License” certified by the People’s Bank of China. Our headquarters is located in Shenzhen, China; with subsidiaries in Hong Kong, Malaysia, United States and the Europe.
Dinpay payment gateway supports online transactions between merchants and consumers by connecting China local banks, bank card association, mobile network operators, city micro payment operators. We offer internet banking payment, express payment, prepaid card payment, Dinpay Wallet payment, Smartphone App payment, QR code payment, and other value-added services, ensuring secure and efficient cross-border payment services for our merchants. Dinpay partners with major China banks in China, as well as international credit card issuers, such as Visa, MasterCard, JCB and American Express.
About Weyland Tech Inc.
Weyland Tech’s CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 14 languages, enables small and medium sized businesses (“SMB’s”) to create native mobile applications (“APP”) for Apple’s iOS and Google Android without technical knowledge or background. Empowering SMB’s to increase sales, reach more customers and promote their products and services via simple easy to build mobile APPs in an affordable and cost-effective manner.
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Weyland Tech Twitter Feed (https://twitter.com/weylandtechinc)
Weyland Tech LinkedIn Page (https://linkedin.com/company/weylandtech)
Brent Suen, CEO Public Facebook Page (https://www.facebook.com/BrentSuenWEYL)
Brent Suen, CEO Public Twitter Feed (https://www.twitter.com/BrentSuenWEYL)
Safe Harbor Statement
This 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 continued growth of the e-commerce 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; 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 Company’s 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 Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://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.
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