JAKARTA (TheInsiderStories) – Weyland Tech, Inc. (OTCQX: WEYL), a global provider of eCommerce, mCommerce and financial technology (FinTech) solutions, has partnered with a global consumer internet firm to offer its AtozGo food and grocery delivery service in Jakarta, said the company yesterday (07/08).
Access to the delivery service apps will be integrated into the partner’ mobile e-wallet app, allowing users to transact AtozGo orders within the platforms. The company said, through this integration, the services will gain access to the hundreds of thousands of merchants and million of users already on the partner’ platform.
The AtozGo mobile app will also be updated to include a new option for paying for deliveries using the partner’ mobile FinTech. The mutual integrations are already underway and are expected to be completed in August.
“We also see the potential to expand AtozGo to other urban areas where our partner has a large existing user base,” said Djunaedy Hermawanto, CEO of PT Weyland Indonesia Perkasa which operates AtozGo.
A recent online survey conducted by M2insights in January 2020 showed that Weyland’ new partner offers one of the top five e-wallets in Indonesia, with nearly 40 percent of respondents currently using to transfer funds and make electronic payments.
It said, deliveries to residential Jakarta has now exceeded 800 per day, up from 500 as reported a few weeks ago, with orders being generated by more than 2,300 registered residential users.
Now, the service has also attracted more than 1,000 delivery people, up from 680 in March. Merchants are also increasingly joining AtozGo, now totaling 35,000, up 9,000 over just the last few weeks.
“Given these positive factors, we expect this new partnership to drive a massive acceleration in the AtozGo business which has already been growing strongly,” added Hermawanto. “We expect it to also elevate our profile in the industry and position us to attract other key partnerships.”
Weyland Tech operates across three continents and 10 countries, including some of the fastest-growing emerging markets in Southeast Asia. Last year, the provider has acquired 31 percent of beneficial ownership of Weyland Indonesia.
The AtozPay mobile payments platform serves the burgeoning m-commerce and e-payment markets in Indonesia, the world’ fourth most populous country. So far, AtozPay has attracted several major partnerships that enable mobile payment for goods and services.
AtozPay recently announced it joined forces with Grab, an online-to-offline mobile platform in Southeast Asia, to promote its new AtozGo short-distance food delivery service in Jakarta. Grab is supporting a new AtozGo co-marketing campaign targeting food establishments and mobile users in certain areas of Jakarta.
Early of 2019, Weyland Tech has get an approval from Bank Indonesia for its co-branded online electronic money license. The global provider of mobile business applications has formed a strategic partnership with Indonesian telecom services and bill payment provider, PT Finnet Indonesia. Both parties has sighned the partnerships in August 2018.
Finnet founded in 2005, is 60 percent owned by telecommunication provider PT Telkom Indonesia Tbk (IDX: TLKM), the largest provider of telecom services in the country. Currently, the provider is the largest fixed-line provider with over 10 million households and businesses as their clients.
In August 2018, Weyland signed an agreement with Finnet to provide QR code based services to Weyland’ AtoZPay branded customers and to Finnet’ customers. Furthermore, Finnet and AtoZPay have applied to the central bank for licensing approval to provide the QR code-based service to customers of which only 34 large banks and telecom services companies hold.
The license was approved on Jan. 18, 2019 and the joint launch will begin Feb. 15, 2019. Weyland is targeting US$100 million in Gross Transaction Volume by 2020. Recent initial public offerings and transactions, including the acquisition of Kudo by Grab Pay for $100 million, value eWallet companies at as high as 2.4X to 4X GTV.
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