New York, NY, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL) ("Weyland" or "Company"), a provider of mobile business applications, announced today that it has entered into a memorandum of understanding (“MOU”) with DDBill Payment Co., LTD, the operators of China’s fourth largest payments gateway Dinpay (www.dinpay.com, English: us.dinpay.com).
“I am pleased to be able to announce today that Weyland has reached principle terms for an agreement with Dinpay to offer their services through our CreateApp and upcoming AtozPay platforms. DDBill processed $121 Billion in transactions in the past year, 20% of which initiated from outside of China. The ability to provide goods and services to Chinese customers and accept payments through apps built in CreateApp and AtozPay is a huge win for our customers around the globe,” commented Weyland CEO, Brent Suen, announcing the news. “It’s particularly exciting for AtozPay since Chinese tourists now make up the largest group of visitors to Indonesia.”
Under the terms of the MOU, DDBill will assist Weyland in scaling its digital payments and wallet platforms and provide access to DDBill’s Dinpay China payments gateway.
Matthew Brent, Head of Strategic Development, discussed the details of Weyland’s plan for its relationship with DDBill. “As we’ve been saying for some time, Weyland is committed to bringing value added transaction capabilities to our customers. Our understanding with DDBill will allow all of our customers to access China’s payment networks to receive and send payments to their Chinese customers and suppliers. Ninety-nine percent of Chinese payments are through these networks instead of credit-cards.”
“For our CreateApp customers it means we’ll be building modules that allow them to access China UnionPay, Alibaba Group’s (NYSE: BABA) Alipay, and Tencent Holdings (HKG: 0700) WeChat Pay networks along with 99.9% of bank accounts in China. It also means that the ability to sell in RMB to Chinese customers and settle in local currency will be coming to AtozPay,” continued Mr. Brent.
Mr. Suen concluded, “The ability to engage with Chinese consumers is a boon for our merchant customers seeking to extend their m-commerce reach to the vast Chinese market. As we build our transaction capacity in CreateApp and our AtozPay wallet platform we will continue developing partnerships and capabilities to enable customers all over the world to do business with each other on mobile smartphones. We will continue to add additional payment options through 2018 and look forward to announcing support for additional markets and currencies including cryptocurrencies and blockchain assets which address the market needs and shortcomings in regions and countries where we are active.”
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.
Follow Weyland Tech online at:
Weyland Tech Facebook Page (https://www.facebook.com/weylandtech)
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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