Aussie company to lead WeChat expansion in South East Asia

You simply cannot do business in China nowadays without a WeChat account. Owned by Tencent Group, the social media platform and its associated WeChat Pay service are ubiquitous in China with rapid expansion internationally too.

So how then did a Sydney-based company score a lucrative deal to expand WeChat Pay in South East Asia? We catch up with Invigor (ASX: IVO) CEO Gary Cohen who explains the deal and why Aussie businesses need to harness the platform with Chinese vistors and tourists.

While still very much a penny stock (actually it's worth even less than a penny) at the time of writing, Invigor's share price has risen 133% since it announced a groundbreaking deal earlier this week with Tencent partner Winning Group to enhance WeChat services in key South East Asian markets.

As a data and analytics solutions business, Invigor will now be aiding the expansion of a service that already has more than a billion users, which for the uninitiated is something like a cross between Facebook, Whatsapp, Twitter and Apple Pay that Chinese citizens use for so many facets of everyday life. Read more

Matt Ogg - Business News Australia - 21 Sep 2018