2/4/2020
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`Mozido Adds Big Piece to Its Mobile-Pay Puzzle with CorFire Purchase | PaymentsSource
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`Mozido Adds Big Piece to Its Mobile-Pay
`Puzzle with CorFire Purchase
`
`By David Heun
`
`December 18, 2014, 9:41 a.m. EST
`
`White-label mobile payments and commerce provider Mozido LLC has acquired mobile wallet provider CorFire,
`
`which developed mobile wallets for retailers like Dunkin' Donuts, to fuel its global expansion.
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`Austin, Texas-based Mozido did not disclose the cost of its purchase of the majority ownership of SK C&C USA
`
`dba CorFire, which was previously wholly-owned by South Korean IT services provider SK C&C. CorFire's
`
`intellectual property and patents will be key to Mozido's plans for attracting new business worldwide, said Dan
`
`O'Malley, chief operating officer for Mozido.
`
`"We have a very specific viewpoint of how we can attack a global market and we think the CorFire acquisition
`
`and the assets that exist there are very germane to what we are doing at Mozido," O'Malley said.
`
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`In addition to Dunkin' Brands, Atlanta-based CorFire also provides mobile payment technology to Dairy Queen
`
`and various other retailers' mobile payment apps.
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`As such, CorFire's reputation will boost Mozido's presence with U.S. brands, said Richard Oglesby, senior analyst
`
`at Double Diamond Payments Research.
`
`"Mozido has long targeted a global market and a lot of developing economies as well, but they seem to be
`
`building out some more U.S.-centric stuff here, too," he said.
`
`In determining how Mozido could "ramp up its brand," the company targeted CorFire as a technology provider
`
`that could help that mission, O'Malley said.
`
`"The combination of the processes that SK C&C has developed through CorFire, such as Near Field
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`Communication capabilities, and the cloud-based Mozido platform" all contributed to CorFire's appeal as an
`
`acquisition target, O'Malley said.
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`In addition, CorFire "has some really talented people" that have helped it build strong brands in the industry,
`
`O'Malley said.
`
`Mozido plans to expand its cloud-based platform relationships with mobile network operators, particularly
`
`CorFire customer Vodafone. It also values the partnerships CorFire has established in the past, O'Malley said.
`
`Three years ago, CorFire partnered with Atlanta-based InComm Inc. to provide merchants with a branded mobile
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`wallet and built-in loyalty program.
`
`CorFire has also worked with PayPal in the past to bolster its mobile commerce offerings, incorporating its
`
`technology into PayPal's Mobile Express Checkout and PayPal Here.
`
`These deals also fit with Mozido's recent activities in mobile commerce.
`
`Early this year, Mozido acquired StickyStreet, a New York-based company specializing in creating and managing
`
`customer loyalty programs.
`
`And last month, Mozido revealed a commercial partnership with MasterCard to integrate the card brand's
`
`payment and security products into its range of services.
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`"With Mozido, you can pay and engage in rewards and no one is doing that particularly well on a global scale
`
`with consistency with the ability to actually drive that behavior," O'Malley said.
`
`Through these moves, Mozido expects to enhance its mobile wallet function, including international and domestic
`
`remittances, person-to-person payments, mobile bill pay, and international and domestic airtime top-up.
`
`Retailers and consumers can also expect new mobile loyalty and proximity marketing services in the future.
`
`David Heun
`
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