23 Nov 2021
Readen Holding Corporation (OTC Pink: RHCO) Announces a New Partnership with Asian POS Supplier ROKA Service
READEN HOLDING CORPORATION (OTC PINK: RHCO), a Venture Capital Corporation which is active in the Fintech, Online Payment and E-commerce industries, today announced that its 100% owned subsidiary Oke Partners have signed a Collaboration Agreement with Roka Service, a leading ePOS and eMenu service provider in Asia. The strategic partnership would instantly integrate existing Roka Services merchants into OkeApp, RHCO's newly launched discount referral app (www.okepartners.com).
Established in 2015, Roka Service ( www.roka.com.hk ) has developed the popular eMenu, the world's first business sales system with standardized cloud solution. It was specially designed for iPad, iPhone and Android devices as a high-end hardware-free smart cloud application product, focusing on saving merchants operation costs, labor costs and improve service quality. Merchants such as retail shops, restaurants, beauty salons can be benefited as the entire operation process can be controlled using a mobile device. eMenu are widely used by more than 500 merchants in Hong Kong, and also used globally by merchants in Japan, Taiwan, Malaysia, South Korea, Spain, China, Singapore, France, Thailand, Vietnam and United States.
The collaboration will allow Roka Services merchants to join OkeApp platform seamlessly. OkeApp targets to sign up 8,000 to 10,000 new merchants within the next twelve months in Hong Kong, which will eventually bring 4 million payment transactions per month. With this strategic partnership with Roka Service, OkeApp can speed up the process of signing up merchants. In addition, both parties are also looking into more areas of collaboration regarding online payment and E-Commerce.
RHCO also announced today that its Board of Directors has approved the Companys share buyback of 10 million old shares at the price of $0.08 per share. The old shares were issued through an earlier transaction in 2013. The purpose of the share buyback is to significantly reduce the total outstanding shares of common stock of RHCO. The buyback was done by privately negotiated transactions in accordance with applicable federal securities laws.