Issue link: https://nebusinessmedia.uberflip.com/i/473095
Based in Austin, Texas, Mozido is the top-funded private mobile payment company in the U.S., thanks to more than $250 million in Series A and Series B Preferred Stock Funding that it has received from its investors, including MasterCard, Wellington Management Company, H.R.H. Sheikh bin Mubarak Al Nahyan, and Tiger Management. Mozido's mobile payments platform includes financial services, loyalty programs, and offers for business and retail customers. Through its white-label, cloud-based platform, MoTEAF, Mozido serves people around the world who choose to manage their money using their mobile phone, rather than relying on traditional financial institutions. For more information, visit mozido.com. Headquartered in Beijing, PayEase develops innovative online and mobile payment solutions in China. The comprehensive payment platform has direct connections to 23 domestic banks, China UnionPay, VISA, MasterCard, American Express and JCB. PayEase is a Delaware company previously owned in part by CapInfo Company Ltd. (1075.HK). As the first Payment Service Provider in China, PayEase is China's first PSP to satisfy all international payment provider standards and is well known for its trustworthiness among China's ePayment user opulation. For more information, visit ayeasenet.com. One Canal Plaza, Suite 600 • Portland Maine 04101 • (207) 828-8000 mcm-law.com A M A R C U S , C L E G G & M I S T R E T T A B U S I N E S S C L I E N T U P D A T E W E'R E PROUD TO ANNOUNCE T WO R ECENT ACQUI SI T ION S BY MOZIDO, INC ., F OUNDED BY OUR CLIENT, MICHAEL A . LIBERTY Mozido is a cloud-based mobile payments provider headquarted in Austin, Texas, with operations throughout the globe. It was founded by Maine native, Michael A. Liberty, who currently serves as its Chairman of Global Strategic Initiatives. Mozido has made two recent acquisitions that further its mission to provide businesses and consumers worldwide with easy and accessible mobile financial services. Marcus, Clegg & Mistretta was pleased to assist in these transactions. "China is an important geography in Mozido's mission, and the addition of PayEase Corp positions Mozido as the leading U.S. financial services provider to have operations inside of China. Mozido customers, which include merchants all over the world, can now reach China's growing and highly active consumer base." In January, Mozido, acquired PayEase Corp as an entrée to the vast market in China. With the PayEase acquisition, Mozido also gains a cross-border payment gateway that makes mobile payments processing possible for foreign merchants looking to expand business into China. The PayEase deal follows Mozido's December, 2014 acquisition of a majority of CorFire, a mobile commerce company previously wholly owned by South Korean IT services provider SK C&C. PayEase can process 99.99 percent of debit and credit cards in China via its direct connections with 23 banks and connections to China Union Pay, VISA, MasterCard, and JCB. PayEase, one of 22 Chinese-licensed payment processing companies, provides nationwide in-app mobile payment solutions, nationwide online payment solutions, Internet banking, call centers and mobile point of sale (POS) —Michael Liberty, Mozido Founder & Chairman of Global Strategic Initiatives terminals. PayEase allows foreign merchants to do business in China by processing RMB (Renminbi) transactions, converting them to a merchant's home currency, and remitting them to the merchant's domicile country. PayEase customers include Amazon, Apple, iTunes, Burberry, H&M and Softworld, among others in the media, travel, TV shopping, e-commerce, insurance, mobile carrier and online gaming space. "By combining forces with PayEase, Mozido has truly become a unique player in the Chinese market. PayEase's existing relationships with China's biggest banks and its high profile customer base gives Mozido a strong position in China that no other mobile financial services company can match," said Kino Kwok, COO of PayEase. "More significantly, the merchants and users in China can now access Mozido's payment solution throughout the world, making Mozido a true global payments player." MARCUS C L E G G & MISTRETTA A T T O R N E Y S P.A.