BEIJING, Nov. 21,
2022 /PRNewswire/ -- WeTrade Group Inc.
("WeTrade" or the "Company") (NASDAQ: WETG), a global diversified
"software as a service" ("SaaS") technology service provider
committed to providing technical support and digital transformation
tools for enterprises across different industries, today announced
that the Company has entered into a technical agency
(commission) agreement (the "Agreement") with Vmade Tech PTE. LTD
("Vmade"), under which Vmade commits to implementing the actual
operation of WTPay technology tools in Singapore. WTPay technology is
independently developed by the Company and designed to realize the
commercial application of WTPay system which supports multiple
methods of online payment from customers, including Wechat Pay,
Alipay, Visa, Master Card, local E-wallets and mainstream digital
wallets in many countries.
Pursuant to the Agreement, the Company agrees to entrust
WTPay technology tools to Vmade in Singapore and send the full set of related
materials in a complete and accurate manner, including technical
documents, technical tool functions, technical tool guidance and
repair. Vmade agrees to implement the actual application and system
operation of WTPay system for small and micro customers in
Singapore. For consideration,
Vmade agrees to pay the Company the cooperation remuneration for
the actual flow (GMV) generated during the operation period in the
actual agent operation in Singapore in accordance with certain
classification proportion. Vmade agrees to pay the Company total
remuneration for cooperation of not less than US$120 million for the period from October 1, 2022, to December 31, 2024.
Mr. Pijun Liu, Chief Executive Officer of the Company,
commented, "We are pleased to cooperate with Vmade to launch the
WTPay system in Singapore.
The launch of WTPay system is expected to boost the growth of
our business and contribute to the development of digital financial
industry worldwide. We believe our cooperation with Vmade will make
our payment and collection solutions available for more merchants
globally and provide more stable and efficient cross-border payment
and collection experience for global merchants. We are confident
that the launch of WTPay in Singapore will improve our competitiveness,
enhance our market position and accelerate our global expansion
plan."
About WeTrade Group Inc.
WeTrade Group Inc. is a global diversified "software as a
service" ("SaaS") technology service provider which is committed to
providing technical support and digital transformation tools for
enterprises across different industries. The three main business
segments of the Company are YCloud, WTPay and Y-Health.
YCloud is a micro-business cloud intelligent system launched by
WeTrade, serving global micro-business industry. YCloud strengthens
users' marketing relationship and CPS commission profit management
through leading technology and big data analysis. It also helps
increase the payment scenarios to increase customers' revenue by
multi-channel data statistics, AI fission and management as well as
improved supply chain system.
Independently developed by the Company, WTPay supports
multiple methods of online payment and eight mainstream digital
wallets in over 100 countries to help customers quickly realize
global collection and payment business. Customers can use
WTPay for global acquiring business, global store opening,
global payment collection, international banking, global remittance
and currency exchange.
Under its global public health business sector Y-Health, the
Company engages in developing global business for biological health
and medical enterprises. Currently, Y-Health mainly focuses on
detection and prevention of epidemic, daily healthcare, traditional
Chinese medicines, and others.
For more information, please
visit https://ir.wetg.group.
Forward-Looking Statements
This press release contains information about the Company's
view of its future expectations, plans and prospects that
constitute forward-looking statements. Actual results may
differ materially from historical results or those indicated by
these forward-looking statements as a result of a variety of
factors including, but not limited to, risks and uncertainties
associated with its ability to raise additional funding, its
ability to maintain and grow its business, variability of operating
results, its ability to maintain and enhance its brand, its
development and introduction of new products and services, the
successful integration of acquired companies, technologies and
assets into its portfolio of products and services, marketing and
other business development initiatives, competition in the
industry, general government regulation, economic conditions,
dependence on key personnel, the ability to attract, hire and
retain personnel who possess the technical skills and experience
necessary to meet the requirements of its clients, and its ability
to protect its intellectual property. The Company's encourages
you to review other factors that may affect its future results in
the Company's annual reports and in its other filings with the
Securities and Exchange Commission.
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SOURCE WeTrade Group INC