Invigor in Winning position after moving to live deployment of WeChat solution

By Justin Ware. Published at Oct 22, 2018, in Technology

Invigor Group Limited (ASX:IVO) has informed the market that its Memorandum of Understanding (MOU) with China’s Winning Group Holdings Limited, which was signed on September 18, is now unconditional.

Both parties have waived the initial three-month pilot period and will move to live deployment of WeChat Pay in south-east Asia with the first significant customer introduced by IVO.

Winning Group is one of just several global solutions providers for Tencent Holdings Limited. Tencent is one of China’s largest companies as well as one of the world’s most valued internet firms. It owns WeChat, a leading payment and social media platform in China with over one billion users (900 million of which are using WeChat Pay).

The removal of conditionality is a promising development for IVO, which will see the company and Winning Group (and by default Tencent) locked into the agreement for three years. This stability will enable IVO to expedite its growth and expansion into other international markets that are being pursued by Tencent through Winning Group.

The agreement also reiterates IVO’s move to a transactional based model which will drive revenue via merchant sales, IVO’s Loyalty solution and advertising royalties.

Finally, IVO expects to announce its first revenue-generating agreement with a recognised global grand with a significant presence in south-east Asia in the coming weeks, with IVO also set to earn a percentage of sales revenue from the merchants using WeChat Pay.

IVO CEO Gary Cohen commented on the strong announcement, “In the short time since we announced the MOU with Winning Group, we have quickly promoted the merits of our WeChat relationship to leading brands, retailers and mall owners in Singapore and Hong Kong.

“It has been enthusiastically received, and as such, we have agreed to remove the need for a 90 day pilot program. This reflects the strength of our partnership with Winning and the broad appeal of the technology offering.

“Our priority now is to consolidate and deploy the significant opportunities we have in this market whilst working on growing our joint capabilities to maximise the unique position we have in this area,” he concluded.


Where to invest $1,000 right now

When the experts at Next Investors have a stock pick, it may pay to listen.

The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.

They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.

Click the link below to see what they are currently investing in.


SEE THE PORTFOLIO

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X