[December 18, 2014]

Mozido Acquires Majority Ownership in Mobile Commerce Company CorFire

Mozido, a cloud platform mobile payments and retail engagement solutions provider, today announced it has acquired the majority ownership in SK C&C USA dba CorFire, a U.S.-based mobile commerce company previously wholly-owned by South Korean IT services provider SK C&C. Through the acquisition, Mozido will advance one of the world's most 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.

"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," said Michael Liberty, founder and Chairman of Global Strategic Initiatives at Mozido. "CorFire has built a state-of-the-art technology platform for NFC-enabled payments, and this acquisition, in conjunction with our MoTEAF^TM platform, makes Mozido the leader in NFC and cloud-based mobile payments."

With quick-service restaurants like Dairy Queen and Dunkin' Brands, nation-wide mobile-wallet solutions, including the CONEC (News - Alert) mobile wallet in Jamaica, and telecom customers such as Vodafone, this relationship uniquely positions Mozido as a leader in mobile payments, retail engagement services, and loyalty services.

SK C&C will remain an investor of CorFire. Current CorTSM™, CorMKT™ and CorPay™ customers can expect to see an improved mobile commerce and financial services solution that includes:

• Several leading payments technologies now 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, poximity 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 their customers.

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 www.mozido.com. Follow us on Twitter (News - Alert): @MozidoGlobal

About SK C&C

SK C&C is a leading provider of IT services, ranging from IT consulting to system development, integration and maintenance services offered to a wide range of industries. Also involved in new IT business paradigms such as digital convergence and ubiquitous computing, SK C&C is an affiliate company of SK Group, a $101 billion conglomerate. For more information about SK C&C, please visit www.skcc.com.

About CorFire

From retailers to handset manufacturers to financial institutions to mobile network operators, organizations today need a proven way to extend their brands and enable their customers to use smartphones as a channel for commerce. With its proven industry expertise, CorFire helps all organizations in the mobile ecosystems deliver on the promise of an environment where consumers can live life mobile. Headquartered in Atlanta, Georgia, USA, CorFire offers three core technology solutions: a Trusted Services Manager (TSM) platform (CorTSM), a robust mobile wallet platform (CorPay), and a state-of-the-art suite of mobile marketing services (CorMKT). For more information please visit www.corfire.com.

[ Back To TMCnet.com's Homepage ]