Mobile Order, Pay and Delivery via Any Affiliated App with UB platform
Agreement for the Service signed on May 6th, 2020
Traditional markets suffering from COVID-19 transform into mobile platform-based smart traditional markets. Product order, payment and delivery are handled as an all in one service by the UB platform. Like the transformation of a traditional factory into smart factory, it is focused on transforming the traditional market into a smart mobile shop without any system investment by sharing the platform in a non-face-to-face environment.
On May 6, Harex InfoTech Inc. (Park, Kyung Yang, CEO),UBpay (User Centric Mobile Payment Shared Platform) Service Provider, announced the “Smart Service System” for the Bang-E Traditional Market (A Group of 200 mom-and-pop stores) in Seoul along with K-POST, a Commerce Infrastructure Support company. Both companies signed the agreement for the service with Bang-E Traditional Market.
With this agreement, Bang-E traditional market transforms itself into a market with high-tech service based on the UBpay user centric shared platform. The key feature is the ability to upload any delivery-enabled products among the market sales products into open markets and mobile apps so that anyone in the country can conveniently purchase them. It is expected to increase the sales of small merchants in traditional markets. Users, wherever they are, can order Bang-E traditional market products through various allied mobile apps such as banks, franchises, the post office, etc.
The user centric shared platform also enables users to use diversified payment tenders such as credit, debit, pre-paid cards, local currency and even gift certificates issued by the Seoul city government when purchasing products in the market via online and mobile. In the case of gift certificates issued by the Seoul city government, users can top-up the balance at a discounted price in the app and use it by either visiting stores in the Bang-E traditional market or using mobile remotely, so that they can enjoy discount benefits, too.
The UB user centric shared platform is the innovative user centric service model that has no middlemen in the payment and service processes. There is no order fee which is currently a concern with delivery service apps, and the platform demands no additional service fee to either the user or the merchant.
“With a part of the additional benefits that we have by utilizing user centric shared platform, we will offer better service to the customer such as loyalty point service,” said Choo, ChangSik, The president of the merchant association in the Bang-E traditional market. He also stated “we will constantly develop ways to bring more younger customers into the market with UB platform”.
Park, Kyung Yang, CEO of Harex InfoTech Inc., expressed “the ultimate goal of this project is to ensure that small merchants and farmers throughout the nation, who have been alienated from the mobile-oriented online distribution market, gain substantial revenue and income growth by having online sales channels.” He additionally explained that we will also expand our service to local governments nationwide and promote collaboration with public delivery service apps that are being promoted by regions like Gyeonggi Province.
■ Harex InfoTech Inc.
Harex InfoTech Inc. (Park, Kyung Yang, CEO), the pioneer of Fintech, announced first mobile card payment system in the world at Silicon Valley, on April 2000 and holds most critical patents applying to almost whole steps of mobile card payment service, multi-factor authentication system combining with PIN and biometrics, payment, cash out and remittance service with the mobile and the user centric payment platform shared with alliance partners. Harex InfoTech Inc. received the ‘Best Technology Awards’ in Innovation Project Awards hosted by Harvard University in 2013. Harex InfoTech currently supplies 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 whole new user centric economic world, creating true sharing economy.
■ UBpay–‘User Centric Mobile Payment Shared Platform’
UBpay, shorts for Universal Benefits, is mobile payment, banking and commerce shared platform that offers an integrated payment service for users through their smartphones with all issues in S. Korea. By enabling users’ smartphones to request payment authorization directly to the financial institutions (like banks or credit card companies), UBpayis entirely differentiated from the conventional payment service in which merchant processors (router) request payment authorization to the financial institutions via middlemen.
Unlike the conventional payment service where payment cards send financial information to merchant, UBpay user sends payment request directly to the financial institution without passing user’s financial information to the merchant.
UBpay and all powered by UB apps are currently usable in various online and brick-and-mortar stores like CU (convenient store chain), 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 payment, railroad, taxi, public home shopping, hospital, traditional markets and 450,000 affiliated merchants including a small mom and pop stores nationwide collaborated with Zero pay, sponsored by the S. Korean government.
When any businesses that currently offer their own services with the apps share the UB platform through the partnership, free of charge, they are able to provide not only mobile payment service but also diversified online to brick and mortar services with their own brands. “My shop service” that enables small merchants to offer mobile-based customer rewards services like loyalty points, coupon, stamp and to sell their products and services through the mobile, “Taxi Call and Pay by mobile”, “Medical FinTech Service” offering user one stop medical service from the hospital payment, e-prescription transfer to drugstore, and drugstore payment with allied medical insurance service, and “Recurring Payment Services”, etc.are some examples. Moreover, a variety of co-marketing can be developed among the partners that share the UB platform to increase the number of users and sales revenue.