Singapore-listed YuuZoo Corp's fast-paced business has reported achieving two milestones in the first week of this month.

It entered the Indian market by selling a regional franchise license to iComp Digital Media, which is part of iComp Solutions Group, the leading distributor and largest partner of Apple India. (For details, click here)

The second piece of news: It has launched YuuWallet, a proprietary electronic wallet for use largely in developing countries with low credit card penetration.

Stock price  15.2 c
52-week range 12.9-24.5c
Market cap S$109 m
Price Earnings (ttm) 1.7 x
Year-to-date return -21%
Dividend yield --
Source: Bloomberg

It enables fast, easy and secure payments without credit cards. It can also be used for sending, receiving and withdrawing money payments and money transactions, from large amounts to micro payment, such as for digital content.

Boston Consulting Group (BCG) estimates in its recent “Global Payments 2020” report that global retail payment transactions by the year 2020 will increase to USD 21 trillion.

BCG estimates that 18-24% of this will be digital payments. 

YuuWallet will be fully embedded into YuuZoo’s social e-commerce platform.

Yoav Elgrichi, CEO of YuuZoo’s fully owned payment subsidiary YuuPay, says: “While e-commerce is booming globally, many countries still lack convenient payment solutions that can be used by the entire population and not only those holding credit cards.

"YuuWallet has been designed by using cutting edge technology, and offers a 'mobile first' experience even in areas with challenging data connection. YuuWallet is fully integrated into the YuuZoo platform, and allows YuuZoo users a convenient way to pay.  

"It makes YuuZoo one of the few e-commerce platforms in the world that has its own embedded full payment system."

YuuZoo will market the YuuWallet through its network of franchisees and partners in 69 countries with a combined population of over 4 billion people.

You may also be interested in:

You have no rights to post comments

Counter NameLastChange
AEM Holdings2.3200.030
Best World2.450-0.010
Boustead Singapore0.9500.005
Broadway Ind0.1270.002
China Aviation Oil (S)0.9100.005
China Sunsine0.4100.010
Delfi Limited0.895-
Food Empire1.2900.010
Fortress Minerals0.305-
Geo Energy Res0.3100.010
Hong Leong Finance2.4900.010
Hongkong Land (USD)2.9200.090
ISDN Holdings0.295-0.005
IX Biopharma0.0430.003
KSH Holdings0.250-0.005
Leader Env0.050-
Ley Choon0.043-0.001
Marco Polo Marine0.0680.001
Mermaid Maritime0.1390.003
Nordic Group0.3300.020
Oxley Holdings0.089-
REX International0.137-0.001
Southern Alliance Mining0.4500.005
Straco Corp.0.485-0.010
Sunpower Group0.205-
The Trendlines0.0700.001
Totm Technologies0.022-
Uni-Asia Group0.8350.010
Wilmar Intl3.4100.010
Yangzijiang Shipbldg1.7500.010

We have 765 guests and no members online

rss_2 NextInsight - Latest News