Mozido will introduce its products and solutions to China through PayEase. To facilitate the deal Mozido has acquired PayEase, previously owned in part by CapInfo Company.
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.
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.
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.
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