Tencent Cloud and OTT Pay to Build Tencent Cloud Business Accelerator Centre in Canada

Will Promote Trade between Canada and China

BEIJING, Nov. 27, 2017 /CNW/ - Tencent, the Chinese tech giant announced today it will work with OTT Financial Group, a Toronto-based Canadian financial services company, to build a Tencent Cloud Business Accelerator Centre in Toronto. The multi-faceted agreement will help grow technology businesses in Canada while opening markets for both Canadian and Chinese entrepreneurs.  

The agreement was signed between Tencent Cloud (Beijing) Co., Ltd. and OTT Pay Inc. in Beijing during the 2017 Ontario Business Mission to China. The signing was attended by Kathleen Wynne, Premier of Ontario, and Michael Chan, Ontario Minister of International Trade.

"This new partnership between Tencent and OTT Financial Group will help Ontario's tech entrepreneurs access the resources and support they need to thrive," said Kathleen Wynne, Premier of Ontario. "Agreements like this one highlight how important international business missions are — showcasing Ontario's innovative and competitive business environment, creating exciting new opportunities for our companies and good jobs for people in our province."

Tencent Cloud is a secure, reliable, high-performance public cloud service provider that integrates Tencent's infrastructure building capabilities with the advantages of its massive user platform and ecosystem. It provides a considerable number of cloud services, such as cloud computing, data processing and cloud operation services to empower businesses around the world. The Business Accelerator will leverage Tencent's Internet Ecosystem, promoting bilateral trade and new opportunities for cooperation between Chinese and Canadian businesses.

"The presence of a mature tech hub makes Toronto an ideal location for Tencent to provide services in Canada," said Sam Xie, Vice President, Tencent Cloud, "We're pleased to build a close partnership with OTT and the Business Accelerator will provide both Canadian and Chinese entrepreneurs with multiple levels of support to accelerate their success."

The Business Accelerator Centre will be housed at OTT Financial Group's property at 1123 Leslie Street in Toronto. In addition to shared workspace, the accelerator will provide start-ups with access to investors, solutions, and will foster collaboration focused on fintech including payment technologies, cloud computing, and big data.  

 "Toronto is home to a dynamic technology sector and OTT Pay is part of that story," said Alex Liu, Vice President, OTT Financial Group. "We are excited to help grow technology businesses facilitated by Internet applications and support Canada's innovation economy."

"Ontario is a leader in Fintech innovation, and our focus on innovation and our ability to leverage trending technologies has been fueling much of the growth in our province," said Michael Chan, Ontario Minister of International Trade. "Agreements like this not only drive economic growth and job creation, they make use of our highly skilled and competitive workforce, which is a further demonstration that Ontario is an ideal location for global companies to invest in and build their operations."

About Tencent

Tencent uses technology to enrich the lives of Internet users. Through its "Connection" strategy, the company has been cultivating a vibrant ecosystem, enabling users to communicate, socialize and enjoy content and services efficiently on its integrated platforms. Tencent's diversified services include communications, social networking, online games, advertising, digital content, payment and cloud services. Tencent is investing heavily in cutting edge technologies such as security, cloud, big data and artificial intelligence to propel its businesses. For more information about Tencent, please visit: www.tencent.com

About OTT Pay

OTT Pay is the leading payment platform connecting Canadian merchants with Chinese consumers. It has partnered with Tourism Toronto and Tourism Montreal to promote Canada-China trade and tourism. OTT Pay is a member of the OTT Group of Companies, a diversified financial services group including investment dealer, exempt market dealer, portfolio manager and money services business. The Group provides services in discount brokerage, securities distribution, asset management, foreign exchange and money remittance. For more information about OTT Pay, visit www.ottpay.com

SOURCE OTT Pay

Media Inquiries: Meg Lauber - 416-200-9869 - [email protected]; Karen Rosen - 416-560-4626 - [email protected]