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CHINA BRIEF | Weimob to refund up to USD 21.5 million to merchants

The data online restoration will be completed by 9 am on March 3.

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Weimob, China’s largest software as a service (SaaS) provider of WeChat solutions for small and medium businesses, has announced Monday the establishment of a compensation fund worth RMB 150 million (USD 21 million) for merchants who have been impacted by the sabotage accident on Feb. 23, according to Weimob’s official website. The company added that the online data restoration will be completed by 9 am on March 3.

Weimob said that as its restoration project continues, assisted by Tencent Cloud, all services of the company’s SaaS business have been restored to normal, adding that the sabotaged back-up data of merchants has been retrieved as well.

The company will set RMB 100 million to compensate its customers, while the rest of the compensation fund will be borne by the company’s senior management, including its CEO Sun Taoyang and CTO Huang Junwei, Weimob said.

Merchants can opt to take the compensation in cash or in traffic—Weimob will offer 50,000 times of exposure to merchant’s advertisements on Tencent’s platforms as traffic compensation.