AUSTIN, Texas--(BUSINESS WIRE)--Mozido, a cloud platform mobile payments and retail engagement solutions provider, today announced it will introduce its products and solutions to China through PayEase. Mozido has acquired PayEase Corp., a Delaware technology and payments company previously owned in part by CapInfo Company Ltd. (1075.HK). Mozido also gains a cross-border payment gateway that makes mobile payments processing possible for foreign merchants looking to expand business into China.
Mozido’s PayEase Corp acquisition comes on the heels of its December 2014 announcement that it is acquiring a majority of CorFire, a mobile commerce company previously wholly owned by South Korean IT services provider SK C&C. PayEase can process 99.99 percent of debit and credit cards in China via its direct connections with 23 banks and connections to China Union Pay, VISA, MasterCard, and JCB.
“China is an important geography in Mozido’s mission of providing the world with easy and accessible mobile financial services, and the addition of PayEase Corp positions Mozido as the leading U.S. financial services provider to have operations inside of China,” said Michael Liberty, Mozido founder and Chairman of Global Strategic Initiatives. “Mozido customers, which include merchants all over the world, can now reach China’s growing and highly active consumer base.”
Headquartered in Beijing, PayEase is one of 22 Chinese-licensed payment processing companies and provides payment services including nationwide in-app mobile payment solutions, nationwide online payment solutions, Internet banking, call centers and mobile point of sale (POS) terminals. PayEase allows foreign merchants to do business in China by processing RMB (Renminbi) transactions, converting them to the merchants’ home currency, and remitting it to the merchants’ domicile countries. PayEase customers include Amazon, Apple, iTunes, Burberry, H&M and Softworld, among others in the media, travel, TV shopping, e-commerce, insurance, mobile carrier and online gaming space.
“PayEase’s established relationships with a number of major banks and financial institutions in China and its high profile customer base give Mozido a strong position in China that no other mobile financial services company can match. This acquisition will allow PayEase to extend our international foothold and service offering. More significantly, merchants and users in China could now access Mozido’s payment solution throughout the world, making Mozido a truly global payments player,” said Kino Kwok, General Manager and COO of PayEase.
About Mozido
Mozido’s mobile payments platform includes mobile financial services, loyalty programs, and mobile offers for business and retail. Through its white-label, cloud-based platform MoTEAF, Mozido serves people around the world who choose to manage their money using their mobile phone rather than relying on traditional financial institutions. Mozido’s MoTEAF platform is highly interoperable, works with virtually any wireless carrier or mobile device, and integrates easily with products from other vendors. For more information, visit us at mozido.com. Follow us on Twitter: @Mozido.
About PayEase
Headquartered in Beijing, PayEase is principally engaged in the development of innovative online and mobile payment solutions in China. The comprehensive payment platform has direct connections to 23 domestic banks, China UnionPay, VISA, MasterCard, American Express and JCB. As the first Payment Service Provider in China, PayEase is China’s first PSP to acquire PCI Certification, ISO 9001, ISO 27001, VISA QSP, satisfying all international payment provider standards and is well known for its trustworthiness among China’s ePayment user population. PayEase’s major customers include Amazon, Apple, Burberry, Dolce & Gabbana, H&M, Neiman Marcus and Softworld, among others in the media, travel, TV shopping, e-commerce, insurance, mobile carrier and online gaming space. For more information, please visit: http://www.payeasenet.com.
