1. Market Data
June 26, 2016

ePayWeb Asia acquires stake in AW Virtual Mall with $100m

Hong Kong-based company ePayWeb Asia has acquired a 10% stake in an upcoming online shopping mall, AW Virtual Mall, with a $100m investment.

Hong Kong-based company ePayWeb Asia has acquired a 10% stake in an upcoming online shopping mall, AW Virtual Mall, with a $100m investment.

Providing online shopping experience, AW Virtual Mall is predicted to have more than three million independent stores and over one billion shoppers a day over the next four years.

"We’re on track to provide the most state-of-the-art shopping experience in the industry."

This mall will enable online shoppers to find items at the best prices available by taking a picture of it and the mall will bring the product to them.

Online store owners will be immediately alerted if they have the product based on a visual search, and they can bid with the best price on the item.

Users can also personalise their profile, communicate and share, providing a complete social media experience.

ePayWeb Asia founder and CEO Andy Khawaja said: "E-commerce is projected to reach $3.5tn by 2019 and we’re on track to provide the most state-of-the-art shopping experience in the industry, like nothing anyone has ever seen."

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