Emolize Co., Ltd, a Korean cross-border mobile payment platform, announced on Wednesday it has expanded its global payment services through its mobile app, Payvil, to Hong Kong and Thailand in September 2019, with further expansion reaching about 16 countries by the end of 2019. The app will partner with Hong Kong’s TNG FinTech Group for the expansion.
“By launching our global payment services in Hong Kong and Thailand in September 2019, we also plan to expand our services to about 16 countries, including but not limited to, Japan, Vietnam, and the United Kingdom, by the end of the year. Therefore, Korean can pay at any store when they are travelling abroad solely with Payvil. By joining the alliance and integrating our roadmap and services, the transaction fees could be significantly minimized for users.”
Emolize also noted that Payvil will be providing a Global E-money Alliance (GEA) platform, to jointly offer financial services in about 10 countries. The GEA platform creates great synergy through leveraging resources and capabilities among the affiliates across different countries. Alex Kong, Founder and Chairman of TNG, also commented:
“We are excited to join hands with Payvil for business expansion across the globe. Businesses are always looking for scaling their operations and unlocking cross-border business growth. Through this collaboration, we are able to close the gap between markets, create new user experience, and improve efficiency drastically. Consumers from around the world can make a purchase for any product or service either online or offline, and make payment through our GEA platform seamlessly and simultaneously without having to use any global bank account, credit, debit or prepaid card.”
The partnership with GEA will help Payvil merchants gain access to more than 10 new markets via the GEA platform. The GEA platform currently covers the Mainland China, Hong Kong and over 160 countries including the Philippines, Indonesia, Singapore, Malaysia, Thailand, Vietnam, India, Sri Lanka, Bangladesh, Nepal, Pakistan, and European Union countries, which provides 24X7 cash-in and cash-out services to its users through a network of over 5,000 banks and over 400,000 cash pick-up points globally. Eui-Soon went on to add:
“Payvil is also preparing the services of charging up local transportation IC cards and deliver the services in different countries in the near future. We believe these new features would benefit our users a lot.”