Readen Holding Corporation RHCO (OTC PINK: RHCO) is a venture capital corporation that has undergone various partnerships and acquisitions to become its current conglomerate of companies. Its corporate history dates back to over 30 years. RHCO is made up of companies in the marketing, fintech, retail, tourism, and advertising sectors. Its subsidiaries have operations and offices across Europe and Asia. The corporate headquarters was moved back to Hong Kong in 2020 but it has announced plans to move the head office to Singapore very soon.
Though a diversified corporation, RHCO has focused majorly on financial services; providing online payment solutions, e-commerce, and fintech solutions.
Popular products
Here are some of RHCO’s products:
OkePay
OkePay is an all-in-one solution for online payments. Its technology is built to integrate and aggregate other payment gateways into one robust platform for online payment processing. It has partnered with e-wallets, credit/debit card processors, bank apps, etc to provide payment solutions to its merchants and users.
OkePay has created a platform for payment service providers to join their network and integrate their services into the OkePay network. This has enabled OkePay services to offer localized services to several regions and countries. At the moment, OkePay can process transactions in more than 150 currencies.
OkePay offers a unique approach when it comes to business integrations. Every business is different and OkePay tailors its payment solutions to meet the specific needs of both small and large enterprises. Merchants can easily integrate OkePay payment solutions on their websites, mobile apps, and e-commerce platforms, POS and VPOS in order to receive payments via cards, e-wallets, banks, and prepaid vouchers.
OkeApp
This app comes with packages for merchants, shoppers, and marketers.
READIES
Perhaps, in a bid to evade taxes, maintain a secret life, or whatever reason; many gamblers choose to hide their identities. RHCO has the perfect solution with READIES; a prepaid payment voucher that enables anonymous online payments. READIES is not only made for gamblers, anyone can use it to protect their privacy when making online payments such as shopping, buying tickets, playing online games, trading cryptocurrencies, etc. It is fast, easy, and secure.
Clients can purchase READIES vouchers from retail outlets or on the READIES website. Merchants, resellers, and partners can also enroll on the website to enjoy the services provided. The onboarding process is fully automated and simple. Partners are required to undergo the KYC process in compliance with anti-money laundering (AML) standards.
At the moment, READIES is accepted in more than 10,000 stores in about 50 countries. This number is expected to grow in the near future.
Oke Retail
Neckermann Direct
A renowned European retail brand with over 60 years of history; RHCO acquired the brand in 2016. Neckermann has a ‘product information management’ platform where merchants can upload their inventory at a fee. The products are instantly displayed on various retail websites.
The platform incorporates a powerful notification system and inventory management making it easy for a merchant to manage his products and sales. Neckermann receives about 15-20% commissions on sales.
2% (Two percent)
This is an international fashion brand that is popular in Asia and Europe. Its parent company “2% WIP group” was acquired by RHCO in 2019. Currently, RHCO has launched 2% as a luxury online retail shop bringing popular fashion brands, cosmetics, health, and fashion accessories to homes across Europe and Asia. The prices are competitive and it also provides worldwide free shipping.
Fullness Grace International Ltd
This is an advertising firm established in 2007 in Hong Kong. The company specializes in outdoor advertising using multimedia and other methods. It has a contract with China Railway to advertise products to passengers on trains. It also has shares in Multimedia tech and production companies.
Fligro Ltd
Founded in 1953, Fligro is an international company that sells fresh food in over 100 countries around the world. The company sells beef, pork, poultry fish, vegetables, and dairy. Since its acquisition by RHCO, the company has grown in revenue and expansion. Fligro recently signed a partnership with ‘Netherlands Supply Company’ to add tax-free beverages, liquors, and spirits to its product chain across the Asian markets.
Recent developments
RHCO has also announced a plan to launch “Okey Media” following its acquisition of a Dutch Media company, “Hitting Media”. Before its acquisition, Hitting Media developed a target-marketing technology that it uses to provide advertisements targeted at the right audience who actually needs the advertised services. Ultimately, this leads to high conversion rates for the benefit of all the parties involved. RHCO plans to harness this technology, combine it with its technology and expand the services to reach more audiences.
The corporation also announced a plan to launch the “Oke Travel Club”. It will be a travel membership club that will offer OkeApp clients huge discounts on vacation packages and general traveling. This is facilitated by the recent partnership deal with the multinational traveling company; Ctrip. So, OkeApp merchants, partners, and members will be able to enjoy up to 50% discount on flight tickets, hotel bookings, car rentals, etc. There will be more than 1 million locations of hotels and resorts, over 200,000 rental shops, and more than 500 airlines to choose from.
Future Potential
The Covid -19 pandemic wreaked havoc on the world economy especially in 2020 when several nations locked down social and economic activities to curb the spread of the virus. During this period, the e-commerce business boomed as there was high demand for online services. e-Wallet apps like PayPal, and Skrill received an upsurge in signups, peer-2-peer (P2P) transfers, and overall transactions.
Many companies, universities, and businesses have never looked back as they have integrated online jobs, academic programs, and online payments. This explains the reason why there is a global decline in cash payments and an upsurge in electronic payments. It is estimated that by 2023, digital payments will have a market share of about USD 6.7 trillion; so, there is a great potential for OkePay to become more popular and generate more profits.
With the proliferation of mobile phone apps, online marketplaces, and a large number of traditional businesses establishing an online presence, it only means additional market and expansion for OkePay and OkeApp. RHCO has plans to expand the use of OkeApp to major cities in China, Taiwan, Singapore, Malaysia, Australia, New Zealand, etc.
The potential of the Oke travel club looks great. In 2021, tourism contributed USD5.8 trillion to the global GDP. It is expected that post-pandemic recovery will be complete and tourism will soon attain its 2019 value of $9.63 trillion. OkeyMedia is estimated to generate huge revenues for the corporation when it is finally launched. The online gaming market size is estimated to grow up to $250 billion by 2025 and READIES is on course to grab a significant share of that market via its e-vouchers.
Bottom line
It can easily be inferred that RHCO is grossly undervalued. The group is managed by a visionary team that is poised to steer its products to enviable heights. Its reported net revenue has recorded a Quarter-on-Quarter growth of about 634% making it a Year-on-Year growth of about 161%. By 2024, its revenue is expected to experience exponential growth. It is just a matter of time before the company claims its rightful place in the global equity market.
