Offering Various Mobile Services by Connecting All taximeters with One Network
Tip to Taxi Driver by Simple Touch on Mobile phone
The instant mobile payment service for Taxis has been launched. On October 1, Harex InfoTech Inc. (Kyung Yang Park, Founder, President and Chief Vision Officer), “UBpay, User Centric Shared Payment Platform, service provider”, announced the Taxi Mobility service for 260,000 Taxis, 100% of Taxis running in Korea in cooperation with the Taxi Meter Alliance, including Taxi Meter management platform operator AION Bank Inc, Taxi Meter Manufacturer & Dealer Association, Taxi Drivers Association, Taxi Call Center Association of Korea and payment processor KSnet.
With the taxi fare payment service, launched by Harex InfoTech customers can make payments for taxi fare with mobile devices much easier without QR code scanning or handing over cash, credit or transportation cards to the driver. When the fare amount appears on the taxi meter, the amount is automatically displayed on the customers smartphone app and the customer simply makes a payment using available loyalty points, coupons, stamps, and rewards all in one step using any payment tender, such as credit, debit, pre-paid card or local gift cards. In addition, the customer can tip the driver by a simple touch on the mobile app when payment is provided, in contrast to the payment by card where the customer tips the driver with cash separately.
The "mobility service platform" was built based on on-board electronic taxi meters. The taxi industry, which faced a major challenge in July with large platform operators such as Kakao and Tada being allowed to carry out platform transportation services and trying to carry out “Mobile Payment Service based on GPS” without onboard electronic meter, has proactively set up the mobility service platform by sharing UBpay User Centric System to jointly respond to current environmental changes. It is far more convenient and competitive than those offered by other big enterprises, while keeping the advantages of on-board electronic meters.
Kyung Yang Park, Founder, President and Chief Vision Officer of Harex InfoTech Inc., stated it is meaningful that the new mobility service platform has set the stage for the existing taxi meter manufacturers and dealers to overcome the crisis that could arise due to the change in the market by linking traditional industries with mobile devices in smartphone era. He also emphasized that the mobility service platform should be operated and serviced by the taxi driver and the taxi company as the main player, not by the big enterprise middlemen.
Starting with the platform service, Harex InfoTech and Taxi Meter Alliance plan to create a differentiated mobility platform by adding various additional services, including call services and carpool services based on taxi running data. Furthermore, the company plans to expand the market to other means of transportation, such as trucking services. The Harex mobile payment service is protected by patents in all countries around the world.
Han, Song Hun, CEO of AION Bank Inc., noted that the mobility service platform is designed to both overcome the current crisis in the traditional taxi industry as well as leapfrog ahead through collaboration with small and medium-sized related industries, including taxi meter makers and dealers, to create a win-win situation and quickly adapt to the smartphone environment.
The officials of KSNET Inc. (Oh, Pil Hyun, CEO), payment processing company, mentioned,“In order to relieve inconvenience in the taxi industry, which accepts various payment methods, we will also continuously suggest additional services such as providing integrated settlement services and linking works to Chinese payment services like Alipay and WeChat pay.”
Harex InfoTech Inc. the pioneer of Fintech, announced the first mobile card payment system in the world at Silicon Valley, on April of 2000 and holds critical patents applying to almost all steps of mobile card payment service, e-wallet,mobile authentication, multi-factor authentication system combining with PIN and biometrics, user centric mobile payment, cash out and remittance service with the mobile and the user centric payment shared platform and alliance partners. Harex InfoTech Inc. received the ‘Best Technology Awards’ in Innovation Project Awards hosted by Harvard University in 2013.
Harex InfoTech currently supplies customized services to its alliance partners such as financial institutions, merchants, retailers, hospitals, and various service providers and shares Harex InfoTech’s own platform of user centric payment, opening a whole new world of user centric shared services. On September 18, Harex InfoTech signed the contract with local partners, VIG, to establish “UB Vietnam”, the joint venture company for UB platform operation in Vietnam and also works on UB service launching many countries including Indonesia, Philippines, Guatemala and 7neighboring countries, Central America, Africa, China, India and U.S.
UBpay: User Centric Shared Payment, Banking and Commerce Platform In Korea, eight credit card companies and ten commercial banks offer mobile payment services based on the UBpay platform developed by Harex InfoTech Inc. By enabling users’ smartphones to request payment authorization directly from the financial institutions (like banks or credit card companies), UBpay is entirely differentiated from the conventional payment service in which merchant processors (router) requests payment authorization from the financial institutions via middlemen.
Unlike the conventional payment services which provide the merchant with the user’s financial information, UBpay operates by sending the user’s request for payment authorization directly to the financial institution through an end to end (E2E) security network without passing user’s financial information to the merchant. UBpay and all powered by UBpay apps are currently usable in various online and brick-and-mortar stores like CU (convenient store chain), Aladin (online bookstore), SSG.com (One of the biggest online shopping mall), culture land (gift certificate exchange), APT maintenance and utility billing (8.5 million households coverage), highway toll, public home shopping, hospital, traditional markets, etc. UBpay will also work at all the small mom and pop stores nationwide with zero merchant fee, sponsored by the government.