“UBpay”, The World’s First User Centric Mobile Payment Shared Platform enables. All Alumni Startups of the Academy to share “UBpay” under their Own Branded Mobile Payment Services, Creating Easier Access to Customers and More Marketing Opportunity with Their Own Payment Service at No Cost
On August 21, Park, Kyung Yang, President& Chief Vision Officer (CVO), Harex InfoTech Inc., announces alliance partnership contract with the Alumni Association of Korea Youth Startups Academy(KYSA) operating 17 Academies in five areas across the country and will share“UBpay”, User Centric Mobile Payment Shared Platform with any startups from the academy for free.
Since 2011, the Youth Start-up Academy, which was started by the Korea SMEs and Startups Agency (KOSME) to provide one-stop support to all phases of startups. They haveproduced a total of 2,878 young startups so far, producing 890 graduates in 2018. The total revenue generated by these alumni startups has amounted to around$1.6 billion, and 6,619 new jobs have been created. It is the true mecca of venture enterprises.
This alliance partnership will allow alumni startup companies to share and take advantage of pay, User Centric Mobile Payment Shared Platform, and to offer variable O2O (Online to Bricks) services, as well as mobile payment service under their brand names with no cost. Thus, UBpay will enhance their competitiveness and help them to offer more benefits to users.
Harex InfoTech will support the Youth Startups Academy’s alumni companies that sell products and services to participate as affiliated merchants and co-develop&market new products and services. This will help them to expand sales channels and increase sales revenues. Alumni companies can take advantage of the world's first user centric mobile payment shared platform at no cost, giving them the opportunity to expand their users utilizing the user centric hyper connected shared network.
Kim, EunGwang, Principal, Youth Startup Academy, stated “As alumni companies now have their own payment services under their own brand, they can have opportunities to expand their businesses by widening business contacts as well as growing confidence on their businesses.” He also anticipates that Youth Startups Academy operated by Korea SMEs and Startups Agency, beyond sharing the payment platform, will become a melting pot for entrepreneurs through collaboration in various product development and marketing.
Chang, William, President, Youth Startups Academy Alumni Association, stated “Thanks to Harex InfoTech for sharing the world’s first user centric shared mobile payment platform, UBpay, without any cost. Alumni companies’ competitiveness will be greatly enhanced by maximizing customer benefits through various marketing services such as discount benefits and coupon services.”
Park, Kyung Yang, President & Chief Vision Officer (CVO), Harex InfoTech Inc., also expressed “we are so pleased to provide small but valuable help to the alumni companies by freely sharing user centric mobile payment shared platform in which the user’s smartphone directly conducts the payment process with the financial institutions with no intermediary.
Specifically, UBpay is the user centric shared payment, banking and commerce platform that allows users to request payment authorization directly from user’s smartphone to the financial institution such as a bank or card issuer with no middleman, guaranteeing maximized benefits for the user, the best possible security and much lower transaction costs. Once users register their payment tenders such as credit, debit, pre-paid card, voucher, gift certificates and the local currency in any apps powered by UBpay, they can freely select and use those tenders in all apps that share the UBpay platform. As a result, it is very convenient for users to manage all their transaction records such as inquiries, payments and loyalty points.
UBpay never uses the user’s financial information for the payment and is regarded as the most optimized and secure service. Moreover, UBpay maximizes the user’s benefits like loyalty points, discount coupons, gift certificates, tips & donations with the payment automatically, all in one transaction, reducing the processing time by over 80 percent while ensuring that the user never misses out on the benefits they deserve.
Harex InfoTech Inc. has deep knowledge and experience sharing the UBpay platform with various alliance partners such as banks, retailers, franchises, and hospitals for their own branded payment service. Harex is now in the process of expanding globally in the U.S., Indonesia, Philippines, Vietnam, Guatemala and Central American countries, building the user centric global network.