HONG KONG, CHINA — (Marketwired) — 11/07/17 — Weyland Tech, Inc. (OTCQX: WEYL) (“Weyland” or “Company”), a provider of mobile business applications, announced updates on the progress of its mobile wallet initiative first discussed on November 2, 2017.
“I am quite pleased with the rapid progress we are making with our mobile wallet development. This is one of our largest initiatives and is going to impact every area of the Company–s operations,” declared Brent Suen, Weyland–s CEO, on the update. Mr. Suen continued, “Developing the mobile wallet platform will be a revenue driver in its own right and also by enabling transactions throughout CreateApp. The team we have secured has a track record of enabling over $100 Million in payments. Given (select Indonesia), we believe Weyland–s –AtozPay,– based on superior QR codes will do similarly well to the team–s previous efforts.”
“We are starting with AtozPay in Indonesia because the market is highly fragmented and As an addition to CreateApp, the mobile wallet functions will enable transactions on the platform and we expect that to be an additional revenue driver separate from the standalone AtozPay platform we announced last week,” concluded Mr. Suen.
Weyland Tech has acquired a complete team in Jakarta that includes developers, marketing and sales, sales support and a general manager with 22 years of experience in tech project management to comprise the AtozPay team. The group based out of Jakarta developed a complete mobile payments solution over the course of 14 months and advanced from $0 to $100 million in top line revenue.
“We are excited to be able to keep this team together; their previous project was a scratch card based mobile system. This new project will be QR code based in line with what we are seeing in mobile wallets throughout the region,” noted Weyland–s COO Eddie Foong.
“We have been fortunate that the team has been working on the wallet while we were in negotiations for them to come on board, so we are also able to provide a first look at the front end today,” added Mr. Foong.
Weyland looks forward to providing additional updates as the platform progresses.
About Weyland Tech Inc.
Weyland Tech–s CreateApp platform is focused on the Asia markets. Our CreateApp platform offered in 12 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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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 (). 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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