Mozido has finalized the acquisition of digital commerce company, CorFire, with Mozido owning 80% of the company. Through this acquisition, Mozido increased its capabilities by incorporating CorFire’s technology platform and blue chip customer base including many of the largest mobile network operators (MNOs) around the world collectively serving more than 1.5B subscribers.
CorFire and Mozido’s combined global digital commerce expertise and financial services have equipped financial institutions, mobile network operators, and retailers all over the world with leading payments technologies, such as NFC, HCE, and QRC cloud-based mobile payments, all from one mobile payments provider. Customers also benefit from a more extensive foundation of worldwide MNO relationships, enhanced mobile wallet functionality, and additional mobile loyalty, proximity marketing and engagement services.
The news comes on the heels of the company’s recent majority acquisition of Zimbabwe mobile wallet company, NettCash. Mozido is expanding on NettCash’s pre-paid electricity solution by integrating its Digital Transaction Platform services, including mobile bill pay, stored value account, and person-to-person payments, to create the country’s first mobile wallet to include prepaid utility services. The Mozido NettCash service has reached more than 241,000 consumers since its launch in February 2015.
Earlier this year, Mozido announced its expansion to China through the acquisition of leading payment gateway provider PayEase, as well as investments in risk management platform IdentityMind Global and HCE pioneer, SimplyTapp. Mozido is pursuing initiatives in India and the Middle East that will complete the strategy to establish beachheads in key target mobile commerce and payment markets that are compliant with local regulations and powered with Mozido’s Digital Transaction Platform services.
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