Local tech company gets on the WeChat Pay bandwagon
Winning Group, an agent for China's WeChat Pay, has entered the Australian market via a shareholding in a data analytics company Invigor.Invigor announced yesterday that it had signed a memorandum of understanding with Winning Group that will see Winning acquire 10 per cent of Invigor, with an option to increase the stake to 15 per cent, and take a seat on the board.Winning Group is a Chinese company that works with Tencent to expand WeChat Pay outside China, targeting Chinese consumers overseas. It currently operates in Singapore, Hong Kong, Malaysia, Japan, United Kingdom, Korea and Canada.The first project Invigor and Winning will work on together is the development of WeChat Pay operations in Singapore. The partners also have their sights set on the Hong Kong and Japanese markets.