Weyland Tech Acquires 31 Percent of Mobile Payments Platform

Weyland Tech (OTCQX:WEYL), mobile business software company announced that it will be acquiring a 31 percent stake in AtozPay and AtozGo. AtozPay, a mobile payments platform is primarily focused on the Indonesian market, while AtozGo is principally engaged in mobile food delivery services.

As quoted in the press release:

The AtozPay mobile payments platform serves the burgeoning m-Commerce and e-Payment markets in Indonesia, the world’s fourth most populous country. AtozPay has attracted several major partnerships that enable mobile payment for goods and services.

AtozPay recently announced it joined forces with Grab, the leading online-to-offline mobile platform in Southeast Asia, to promote its new AtozGo short-distance food delivery service in Jakarta, Indonesia. Grab is supporting a new AtozGo co-marketing campaign targeting food establishments and mobile users in certain areas of Jakarta.

The new campaign is building off AtozGo’s successful pilot launch addressing a single square block of Jakarta that is now generating more than 1,500 deliveries a day. This area comprises 15 building complexes, of which three are currently generating the bulk of the volume. Following the rollout with Grab, AtozGo expects to expand to other areas of the city, along with the possibility of a strategic investment by Grab.

Click here to read the full press release.