News and Announcements
Invigor Group (ASX: IVO) announces WeChat agreement with China’s Winning Group has been upgraded
- Published October 23, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Invigor Group (ASX: IVO) has upgraded it’s WeChat agreement with China’s Winning Group Holdings to an “unconditional” status.
- The existing agreement is now secured in place for three years.
- The unconditional status will enable the company to accelerate its growth on partnerships with Winning Group across South-East Asia.
Invigor Group (ASX: IVO) has upgraded it’s WeChat agreement with China’s Winning Group Holdings to an “unconditional” status.
Both companies have opted to waive the initial three-month pilot period and will move to live deployment of WeChat pay in South-East Asia.
The existing agreement is now secured in place for three years.
The upgraded status will enable the company to accelerate growth on partnerships with Winning Group across South-East Asia.
Winning Group is a global solutions provider for Tencent Holdings, one of China’s largest companies and one of the world’s most valued internet companies.
The deal upgrade validates the relationship between Invigor and Winning Group.
Tencent owns WeChat which is one of the most popular payment and social platforms across China.
The upgraded deal will become a significant revenue generator for Invigor as the agreement reinforces its gradual move to a transactional-based model where it will make revenue on the sales from merchants, advertising revenue from promotions and most importantly, from revenue with the integration of Invigor’s Loyalty solution.
About Invigor Group (ASX: IVO)
Invigor is a B2B insights and loyalty company for retailers, brands and venue operators that delivers a more strategic, profitable approach to today’s commerce.
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