OTC/PINK Breaking Material Events

[Welcome2Pinkyland]

$WEYL NEWS! Weyland Techs eWallet Enters Into Partnerships with Major Banks, Telecom Providers and Unicorn Funded Companies in Indonesia

9:52 AM ET 9/6/18 | GlobeNewswire
Weyland Tech's eWallet Enters Into Partnerships with Major Banks, Telecom Providers and Unicorn Funded Companies in Indonesia

New York, NY, Sept. 06, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Weyland Tech Inc. (OTCQX: WEYL) ("Weyland " or the "Company"), a provider of mobile business applications, announces that its eWallet business, AtoZPay, has entered into multiple additional agreements with the following companies in Indonesia, to enable users of AtoZPay to pay for goods and services from said companies.

The partnerships include

-- Telkomsel -- Indonesia's largest telecom service provider https://www.telkomsel.com/en

-- BRI Bank -- one of the oldest banks in Indonesia, with US$62 billion in assets https://bri.co.id/en/home

-- Bank Mandiri -- one of the largest banks in Indonesia with over US$81 billion in assets https://www.bankmandiri.co.id/en/home

-- Grab Taxi -- the number one ride sharing and delivery service in Southeast Asia funded by HSBC, Toyota Motor Company, Paul Allen (Co-founder of Microsoft), Oppenheimer, Softbank and multiple other 'tier-one' investors. Grab is currently valued at US$9 billion https://www.grab.com/mm/en/

-- Go-Jek -- Indonesia's largest motorcycle and scooter based taxi service, funded by Google, Tencent, Temasek, Sequoia Capital, KKR and and multiple other 'tier-one' investors. Go-Jek is currently valued at US$5 billion https://www.go-jek.com/

It is notable that both Grab Taxi and Go-Jek are two of fourteen companies that operate in Southeast Asia, considered to be 'Unicorn' valued companies, meaning valuations in excess of US$1 billion supported by investors that have a global presence and are top of their class.

AtoZPay is pursuing an 'open loop' strategy to partner with large companies that may find AtoZPay's growing merchant base attractive, leading to a potential strategic stake in AtoZPay or an outright acquisition in the future.