SINGAPORE (Dec 6): Yuuzoo Corporation has launched YuuWallet, a proprietary electronic wallet (e-wallet) designed for use in developing markets as well as developed markets with low credit card penetration.

YuuWallet will be fully embedded into YuuZoo’s social e-commerce platform, and marketed through the latter’s network of franchisees and partners.

In a Tuesday announcement, YuuZoo explains that the e-wallet “enables fast, easy and secure payments without credit cards”, covering the full range of payments and money transactions, from large amounts to micro-payments.

It also can be used for sending, receiving and withdrawing money worldwide.

“YuuWallet has been designed by using cutting-edge technology, and offers a ‘mobile first’ experience even in areas with challenging data connection,” explains Yoav Elgrichi, CEO of YuuZoo’s wholly-owned payment subsidiary, YuuPay.

According to Elgrichi, YuuWallet is one of the few e-commerce platforms in the world to have its own embedded full payment system.

Shares of YuuZoo closed flat at 15 cents on Monday.