OpenDNA Ltd (ASX:OPN) has entered into an agreement with Novatti Group Limited (ASX:NOV) to increase the customer reach of its RooLife platform and extend payment processing capability to service Chinese tourists, business travellers, students and Chinese living in Australia.
The RooLife platform will now also accept and process payments in Australia from Chinese WeChat and Alipay account holders in Australia.
The company will earn a commission on all transactions from its merchants and customers on the RooLife e-commerce platform for all payments processed.
“Large and growing market”
OpenDNA chief executive officer Bryan Carr said: “We are delighted to partner with Novatti and the China payments business to service the large and growing market for purchases made using the most widely-used payment methods in China – WeChat and Aliplay.
“Our RooLife online platform combined with Novatti’s innovative payment processing capability, which manages AUD transactions across WeChat and Aliplay, is a powerful combination that we expect to apply across multiple sectors including retail, tourism, education and real estate services to name a few.”
The new partnership enables the company to process payments for items such as education fees, rent and utility bills on top of retail goods and tourism services, which OpenDNA will receive a commission for.
This will optimise transactions between RooLife’s merchants and customers in Australia, delivering fast settlement via an Australian domestic funds transfer.
"Enabling new revenue streams"
Novatti CEO Peter Cook said: "OpenDNA and Novatti are enabling new revenue streams whilst helping tourists and general Chinese consumers to better interact with Australian businesses and to purchase additional Australian products and services.
"The partnership between OpenDNA and Novatti should create excellent new revenue streams for both companies.”