Harex InfoTech (CEO, Park, Kyung Yang) participates in the World IT Show 2019 April 24-27 with LOTTE PS Net, providing electronic financial services such as ATM service, automated clearing system, and HANTLE System, a Global automated equipment manufacturer.
The "Button ATM," which Harex Infotech showcases with those two partners, is the most advanced ATM anywhere, boldly eliminating the typical large touchscreen LCD and card inserts, and instead equipped with only wireless communication modules such as Bluetooth, NFC, and QR.
Amid major payment method changes from plastic cards to mobile devices, Harex, by the adoption of new mobile-friendly methods, is spreading the next generation of ATMs. These new ATMs have flexibility in terms of size (can be as small as a microwave oven) and much lower purchase and operation costs compared to traditional ATMs.
Harex Infotech and LOTTE PS Net have completed pilot tests in Indonesia and several other countries and are preparing to commercialize the “Button ATM” and also participate a project for the financial inclusion and inclusive growth that can provide financial services to the unbanked and underserved by deploying the “Button ATM” to the various locations such as regional post offices, telecommunication service branches, gas stations, and retail shops in developing and underdeveloped countries. This most advanced ATM service can, of course, also be applied to developed countries, taking advantage of the machines’ low manufacturing cost, security, and convenience.
The current financial institutions’ NFC-based cash out service requires the user to enter random numbers generated within the smartphone into the ATM screen or enter the cash-out amount and bill type at the ATM screen after transferring card information by NFC touch. In contrast, cash out service with the “Button ATM” introduces an entirely different process. The user chooses a cash out amount and bill type in the mobile app in advance and takes the cash from the “Button ATM” by either touching smartphone to the ATM or pushing the button on the ATM.
Moreover, when using the service, the “Button ATM” is free from any financial information leakage such as hacking and data theft in the transaction because none of the customer’s financial information is passed to the ATM.
Harex InfoTech, the corporation that has developed, operates and supplies “UBpay”, the User Centric Open-type Universal Shared platform, provides the services that empower various and numerous alliance partners having their own mobile service apps. This allows banks, securities firms, retailers, franchisers, universities, religious service entities, hospitals, etc. to offer their own branded user-centric mobile payment service to their users by integrating the UBpay shared system as an in-app module to the alliance partners’ mobile apps. Recently, Harex was selected as both a mobile payment service provider and a processor for the “Zero pay, Zero merchant fee service” by the Korean Government.
Park, Kyung-yang, CEO of Harex Infotech said, "UBpay is the user-centric shared mobile payment service that can be used by any company or organization without concern for information leakage or fees. We will experience life-friendly payment services that are more convenient and more beneficial.”
Harex InfoTech Inc. (Kyung Yang Park, CEO), the pioneer of Fintech, announced first mobile card payment system in the world at Silicon Valley, on April of 2000 and holds most critical patents applying to almost whole steps of mobile payment service, multi-factor authentication system combining with PIN and biometrics, payment, cash out and remittance service with mobile and the user-centric payment platform shared with alliance partners. Harex InfoTech Inc. received ‘Best Technology Awards’ in Innovation Project Awards hosted by Harvard University in 2013. Harex InfoTech currently shares the customized services to its alliance partners such as financial institutions, merchants, social-medias and various service providers with sharing Harex InfoTech’s own platform of user-centric payment and opens a whole new world of shared service. Harex InfoTech Inc has started Zero Merchant Fee Service first in Suwon, South Korea since April 9, 2018.