Signs Joint Venture Agreement with Tapit Media
Hong Kong, Sep 9, 2014 AEST (ABN Newswire) - Leading Chinese mobile commerce company 99 Wuxian Limited (
ASX:NNW) ("99 Wuxian") is pleased to announce it has entered into a Joint Venture ("JV") agreement with Tapit Media Pty Ltd ("Tapit"), a global leader in Near Field Communication (NFC) enabled offline media.
- 99 Wuxian is a market leader in the Chinese business to business to consumer (B2B2C) m-commerce segment
- 99 Wuxian has a ground-breaking opportunity to utilise offline media as a direct online business-to-consumer (B2C) customer acquisition tool
- The Joint Venture reinforces 99 Wuxian's online marketing campaigns through NFC-enabled offline media
- The Joint Venture provides 99 Wuxian with a low cost customer acquisition tool to drive registered users and customer engagement
- The Joint Venture positions 99 Wuxian at the forefront of m-commerce innovation aligned with the increasing penetration of NFC-enabled smartphones
- 99 Wuxian intends to commence two to three offline and online marketing campaigns with its major business partners to utilise this differentiated service offering. This is expected by December 2014.
Joint Venture Background
99 Wuxian and Tapit entered into an agreement to form a JV on 8 September 2014. The JV aims to revolutionise Chinese m-commerce and offline media by integrating Near Field Communication (NFC) enabled interactive offline marketing campaigns with 99 Wuxian's platform. 99 Wuxian will own 55% of the JV.
The JV will utilise Tapit's dynamic contactless communication technology which uses a range of contactless standards including NFC and Bluetooth Low Energy (BLE) to deliver rich content to smartphones from offline physical media assets. Users with NFC-enabled smartphones have the ability to tap NFC-enabled objects to access rich content and information such as videos, mobile optimised pages and instant app downloads.
The JV allows 99 Wuxian to provide a new and unique offering to its business partners in China by allowing smartphone users to interact with NFC-enabled offline media and 99 Wuxian m-commerce platform to complete transactions. The consumer engagement opportunity is significant and is expected to include using NFC-enabled smartphones to access information, buy movie tickets, receive food and beverage coupons or buy transport tickets.
"The Joint Venture makes it possible for people to tap on a NFC-enabled object and become a registered user of 99 Wuxian's m-commerce platform. It's a very exciting development for 99 Wuxian and our business partners and merchants that we are bringing market leading Australian technology to China and drive direct B2C growth" Ms Zhang said.
Jamie Conyngham CEO & Co-Founder of Tapit said: "This is a landmark deal for Tapit. 99 Wuxian and Tapit will bring market leading contactless communication to Chinese consumers, which for many will be the first time they have experienced it. However, once consumers are aware of the technology they are likely to expect everything to be interactive."
Tapit has worked with leading global brands including Google, Microsoft, Samsung, Telstra, Vodafone, P&G, Unilever, Nestle, McDonalds, Sony, Johnson & Johnson, Nike and Westfield as well as giant media owners News Corp, JC Decaux, CBS and Clear Channel.
"We believe Tapit's technology and global track record makes it easier for consumers to engage with offline physical media using their smartphones and is the next evolution from QR codes," Ms Zhang said.
About Tapit
Tapit is a pioneer within the contactless communications sector (mobile 3.0). Since 2011 Tapit has worked with global brands including Google, Microsoft, Samsung & Visa to deploy, manage and analyse their contactless infrastructure including NFC tags, Beacons and QR codes. Leveraging Tapit and the power of contactless communications provides global companies with a fast, simple and secure way to engage with consumers via their smartphone directly from physical environments.
About 99 Wuxian Ltd
99 Wuxian Ltd (ASX:NNW) aggregates over 300 million high quality consumers and 155 leading merchants through a marketplace embedded within the mobile apps of China's leading banks, telecommunications and insurance companies. 99 Wuxian enables increased customer satisfaction, loyalty and retention for its business partners by offering consumers the lifestyle convenience of purchasing virtual and physical goods on a mobile device.
| ||
|
