MobilityOne Limited Payment acceptance service with Alipay.com Co. Ltd (4949V)
07 Agosto 2020 - 2:54AM
UK Regulatory
TIDMMBO
RNS Number : 4949V
MobilityOne Limited
07 August 2020
7 August 2020
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Payment acceptance service with Alipay.com Co., Ltd
MobilityOne (AIM: MBO), the e-commerce infrastructure payment
solutions and platform provider, announces that its wholly-owned
subsidiary in Malaysia, MobilityOne Sdn Bhd, has entered into an
Alipay service contract with Alipay.com Co., Ltd ("Alipay") to
offer Alipay's payment acceptance service to MobilityOne's
merchants in Malaysia (the "Agreement").
Alipay is one of the largest mobile and online payment platforms
globally and is part of the Alibaba Group Holding Limited, a
Chinese multinational technology company specialising in
e-commerce, retail, internet and technology.
The Agreement will enhance MobilityOne's e-payment capabilities
whereby MobilityOne's merchants can accept Alipay transactions via
online and offline channels from digital wallets which have stored
value operated by Alipay. MobilityOne intends to, via an
e-platform, provide payment processing, authorisation and
settlement services to its merchants who provide goods and services
directly to Alipay users to enable such merchants to accept
payments from Alipay users.
Whilst the Company is pleased to announce the Agreement as it
validates its present strategy, the Board confirms that there is no
immediate revenue contribution or earnings impact to the Group as a
result of the Agreement with Alipay. There are no fees payable
upfront to the Group in respect of this Agreement. The Group will
generate revenue from this Agreement through a percentage of the
service fee to be charged to the merchants based on the amount of
each successful Alipay transaction and after deducting Alipay's
share of the service fee, to be calculated on a monthly basis.
The Board is hopeful that the Agreement with Alipay will
contribute positively to the Group's outcome in the financial year
ending 31 December 2021 and beyond as the Group intends to deploy
this service to the market by the end of this year. As such,
management expectations for the Group's performance in the current
financial year remain unchanged. At this stage there can be no
guarantee that the Agreement with Alipay will have a material
impact on the Group's future trading or financial performance as it
is dependent on, inter alia, the overall global economic situation
and the status of the competitive landscape .
Dato' Hussian A Rahman, CEO of MobilityOne, commented: "It is
pleasing to see that our on-going efforts to partner with global
companies to offer our services are coming to fruition. Even though
this new service with Alipay will not have any immediate impact to
our revenue or earnings we are confident on its contribution to our
future growth prospects."
-ends
For further information, contact:
MobilityOne Limited +6 03 89963600
Dato' Hussian A. Rahman, CEO www.mobilityone.com.my
har@mobilityone.com.my
Allenby Capital Limited (Nominated Adviser and Broker) +44 20 3328 5656
Nick Athanas / James Hornigold
About Alipay
Alipay operates a mobile and online payment platform and is one
of the world's largest mobile payment service organisations. Alipay
has more than half of market share of the third-party payment
market in mainland China.
For more information, please refer to
https://intl.alipay.com
About MobilityOne Group:
MobilityOne provides e-commerce infrastructure payment solutions
and platforms through its proprietary technology solutions. The
Group has developed an end-to-end e-commerce solution which
connects various service providers across several industries such
as banking, telecommunication and transportation through multiple
distribution devices including EDC terminals, mobile devices,
automated teller machines (ATM) and internet banking. The Group's
technology platform is flexible, scalable and designed to
facilitate cash, debit card and credit card transactions from
multiple devices while controlling and monitoring the distribution
of different products and services.
For more information, refer to our website at
www.mobilityone.com.my
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END
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August 07, 2020 03:54 ET (07:54 GMT)
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