Weyland Tech, a leading global provider of m-Commerce solutions, has exercised its option to acquire 31% beneficial ownership of PT Weyland Indonesia Perkasa (WIP), owner and operator of the fast-growing AtozPay and AtozGo platforms.
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.
“AtozGo address the need for a hyper-local, pedestrian-powered food delivery service that can make food delivery from local establishments quick and easy for office workers and urbanites,” said Brent Suen, president and CEO of Weyland Tech. “This unique approach is capturing an untapped huge market, and making AtozGo especially attractive to food delivery services, like GrabFood, which traditionally targets areas where motorized delivery is required.”
“AtozPay is a highly complementary consumer-facing fintech solution that supports our CreateApp PaaS platform by providing payments capabilities,” continued Suen. “We had spun AtozPay off to our shareholders last year but retained the option to secure this 31% position of WIP at nominal cost. Given the tremendous recent progress of AtozPay and AtozGo, including the participation with major partners, we believe this ownership position will substantially enhance Weyland Tech’s shareholder value.”
Weyland will continue cross-selling of its CreateApp solution to businesses that have adopted the AtozPay e-wallet solution, but now adding food service businesses that can benefiting from AtozGo. Weyland is also expanding its marketing efforts to address specific affinity groups and everyday product merchants who are currently underserved in Indonesia.