Mobile payment transactions in China will reach 9 trillion yuan, according to an Internet Society of China (ISC) report. A startup based in Hong Kong wants to be a part of this huge opportunity and is all set to expand to Guangzhou, Shenzhen, Shanghai and Beijing.

Mobexo offers a customizable system of pre-payment, payment, and post-payment services. The Mobexo mobile payment e-wallet is a free app on iOS, Android and Windows Phone, which allows two parties to transfer funds without the need of additional devices. The app enables users to pay online or at physical shops, restaurants and bars. At the time of payment, users can earn points on their preferred merchants’ loyalty card and redeem promotional deals. Unlike credit cards or cash, Mobexo allows merchants to accept funds from customers without requiring them to give out their personal banking information.

The Mobexo web portal allows merchants to setup and customize their services according to their business-specific needs. The basic services are freely accessible and are monetized on a volume basis. Advanced services are accessible on a subscription basis.

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Vallabh Rao

Beijing based Contributor at TechNode. Email: raovallab AT technode DOT com