Mozido is a well known provider of cloud platform based mobile payments and retail engagement solutions. The company recently announced that it has acquired a majority ownership in CorFire, a U.S. based mobile commerce company previously owned by South Korean IT services provider SK C&C. Through the acquisition, Mozido will advance one of the highly successful closed-loop mobile wallet apps, Dunkin’ Brands, expand its global market, and gain a reach of two billion users through relationships with six of the top 20 mobile network operators (MNOs) in the world.
Michael Liberty, founder and Chairman of Global Strategic Initiatives at Mozido, said in an official press release: “CorFire is a strong global mobile commerce player. By adding its strength in NFC-enabled mobile wallets to Mozido’s extensive mobile financial services and retail marketing capabilities, we can now give merchants around the world access to a powerful mobile ecosystem that adds monetization features to mobile programs. CorFire has built a state-of-the-art technology platform for NFC-enabled payments, and this acquisition, in conjunction with our MoTEAFTM platform, makes Mozido the leader in NFC and cloud-based mobile payments.”
With quick-service restaurants like Dairy Queen and Dunkin’ Brands, mobile-wallet solutions such as CONEC mobile wallet in Jamaica, and telecom customers such as Vodafone, this relationship uniquely positions Mozido as a strong contender in mobile payments, retail engagement services, and loyalty services.
Current customers of Corfire, using products like CorTSM, CorMKT and CorPay, can expect to see an improved mobile commerce and financial services solution that includes:
- Several leading payments technologies under one mobile payments umbrella, such as NFC and cloud-based payments, which are highly scalable, secure and compliant with regulations.
- A combined, more extensive foundation of MNO relationships that extend the reach of Mozido and CorFire’s solutions to billions of merchants and consumers around the world.
- Enhanced mobile wallet functionality, including international and domestic remittances, person-to-person payments, mobile bill pay, and international and domestic airtime top up, that adds monetization features to existing mobile offerings.
- New mobile loyalty, proximity marketing and engagement services that are white-labeled for retailers, brands, hospitality companies and merchants to allow them to reward loyalty, send targeted, conceptually relevant offers, provide mobile payments options, and stay connected with customers.
SK C&C will still have a minor stake in Corfire and will continue to act as strategic partner to both Mozido and Corfire.