Invigor Group (ASX: IVO) is a Business to Business data intelligence and solutions company that uses data analytics to generate revenues for the retail and service industries. The company specializes in the sector of owned retail platforms, and it’s one of a kind data ecosystem provides businesses with an insight which helps them in empowering their businesses and enhance the long-term profitability.
The company has via the latest release on ASX disclosed that it has deployed the WeChat Pay platform to the first eight retailers and tourist operators in Singapore. Still, there are two more deployments that are pending. This is a significant achievement given the Winning/Invigor partnership was only formed in the month of September 2018.
The company’s WeChat Pay solution will be operational this month in the most iconic destinations in the regions of Singapore including in fashion and accessory stores in Haji Lane and Chinatown Point, optical stores at Orchard Road, in the famous dining area Joo Chiat Road, and in gold and silver jewellery outlets located in the Downtown.
The company has also successfully signed on iFLY, the world’s largest indoor skydiving facility on Sentosa Island. Chinese tourists and local residents can now pay through WeChat Pay at Sentosa which is Singapore’s premier island resort getaway with over 20 million visitors each year.
A major roll-out of WeChat Pay is now underway with more individual retailers and major brand groups being pursued. This will result in new deployments being secured at volume and in multiple stores for individual brands.
The company’s CEO, Mr. Gary Cohen commented that these ten deployments are the first clear indication that WeChat Pay will be readily accepted throughout Singapore. Thus, the company can now scale up very rapidly. The initial deployments are for the payments offering only, where the company will earn a percentage of transaction revenue. The company expects to add in the Loyalty and Promotional offering once management has a track record of transacting successfully and establishing ourselves as dependable partners for the retailers.
He also informed that the company is pursuing deployments with some major brand groups that have a large number of retail stores and multiple brands throughout Singapore. Management is working diligently to secure one or two of these groups very soon.
As well as news flow on more WeChat Pay deployments in Singapore and other Asian markets, the Company is close to securing large Pricing and Loyalty solutions contracts for recognized retailers with significant footprints in Australia. Further details will be reported in the near term.
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