Update On :29 June 2016
Hong Kong company ePayWeb Asia has invested US$100 million in the up coming Allied Wallet Virtual Mall in exchange for a 10 per cent stake. AW Virtual Mall, an online shopping mall is forecasted to have more than 3 million independent stores and more than 1 billion shoppers a day in the next four years. It will create a new experience for online shoppers. It will enable online shoppers to find an item they want at the best price available simply by taking a photo of it.
Once users upload a photo of a desired item, store owners will be notified instantly. If they have a matching product, they will bid with their best price. Users can select the best price, which is quoted by the store owners and checkout safely & securely. The website creates a modern shopping-mall experience online, complete with a social-media element that lets users personalize their profile, communicate and share.
Andy Khawaja, founder/CEO of Allied Wallet said that with eCommerce projected to reach $3.5 trillion by 2019 and they are on track to provide the most state-of-the-art shopping experience in the industry. Allied Wallet is a provider of e-commerce merchant services and online payment processing services. The AW Virtual Mall will be the first of its kind allowing users to upload a photo of the item they are looking for and the AW Virtual Mall will bring the product to them.
News Source From : http://www.retail-business-review.com/news/hong-kong-based-epayweb-to-acquire-10-stake-in-aw-virtual-mall-270616-4933509
Image Courtesy : https://insideretail.asia/wp-content/uploads/2016/06/Online-shopping-with-card.jpg