Circle International Holdings Limited today announced its well thought partnership with Lakala, China's only non-bank institution providing online, offline, personal and corporate services with a trading volume of RMB one trillion. This move will help Circle International to facilitate cross border payments between Malaysia and China.
In 2016, cross border transactions involving China within the e-Commerce space was valued at USD$1 trillion. Circle International's CEO, Dato' Brian Tan said, "This will contribute positively to our Group revenue in 2019 and the tie-up will allow for increased monetization opportunities from China and the creation of a more complete marketplace within its proprietary Business Circle mobile application. Circle International's self-developed Business Circle mobile application has a tremendous following in China and other Chinese speaking markets. The English version of Business Circle was launched recently as part of its regional plans to penetrate into new markets including Australia. Through the partnership with Lakala, Circle International can leverage on Lakala's strength in E-commerce and integrated payment solutions to enable seamless E-commerce possibilities for our Business Circle users, particularly those from China. Via Lakala, both consumers and merchants can buy and sell products and services through Business Circle."
The tie-up is part of several strategic announcements by the Malaysia home grown new media Technology Company to power its penetration into the mobile wallet and payment gateway space. Recently, the Company also launched its Circle VISA Premium Card which is exclusively for Business Circle users - rewarding them with unique incentives, special discounts and promotions. Tan further added, "It's about creating a complete payment eco-system for consumers and merchants to leverage on. While the Circle VISA Premium Card was our first step into FinTech, we continue to expand our product lines for our members. E-commerce complements our existing revenue streams as a regional content owner and digital advertising player."
Founded by Dato' Brian Tan in 2009 under the holding company Circle International Holdings Limited and headquartered in Kuala Lumpur, the Group is a leading 360 degree, new media technology group for the Asia Pacific region. The Group's principal business activities are its highly successful Business Circle mobile app (BC app) and its Worldwide Excellence Award (WEA) platform.