NOV makes my 10 bagger list, page-8

Wechat offical account posted this today:

WeChat Pay is coming to Australia, but no local payments subsidiary has yet been established


Despite reports to the contrary, at the current time WeChat has not established a payments subsidiary in Australia.







On Monday, it was reported that an Australian Securities Exchange (ASX)-listed company had signed a deal with a so-called “Australian payments subsidiary of Tencent-owned WeChat".


In fact, neither WeChat nor its parent company Tencent has a so-called "Australian payments subsidiary". WeChat Pay also reiterates that there is no exclusive 3rd-party cooperation, and any claim such as "WeChat Pay dealer commission" is completely erroneous.


WeChat Pay offers an open platform in a fair and equitable manner, encouraging ANY 3rd-party developer with sufficient technical competence and commercial scalability to become a WeChat Pay overseas service provider. Through WeChat Pay's advanced APIs, Service Providers are able to provide prospective vendors with all-encompassing services covering the whole customer lifecycle. In this manner, service providers may leverage the platform to offer technology development, equipment debugging, merchant marketing and promotion.



To this end, the WeChat team reiterates that they reserve the right to take legal actions against the dissemination of any false information that might disrupt market.