19 October 2023 - HIVEX® World Coverage Expands into South Korea Partnering with Bizplay and Zero Pay; And HIVEX Launches Inbound Japan Service
HIVEX® adds another 1.7 million merchants to the platform; total coverage increases to 5.8 million merchants and 76.5 million users globally
Seoul, South Korea; Silicon Valley, USA; October 19, 2023 – TBCASoft, Inc. (“TBCASoft”) announces the expansion of HIVEX into South Korea by partnering with Bizplay Co., the newest member of the HIVEX Network. Bizplay is the operator of Zero Pay that has 1.7 million merchants across South Korea. By joining HIVEX, it allows Zero Pay merchants to accept QR payments from millions of international travelers using their existing payment applications without additional downloads.
This announcement follows closely with the successful commercial launch of HIVEX’s cross-border payment services for travelers inbound into Japan. Now, international travelers are enjoying the seamless HIVEX payment experience using their trusted, home mobile payment application while in Japan.
With a one-time integration to HIVEX, mobile payment service providers (MPSP) can access an extensive network of users and merchants across multiple countries. Notably, HIVEX provides a seamless payment experience that does not require the adoption of new QR code formats, modifications to point-of-sales (POS) systems or downloading new applications. TBCASoft’s innovation ensures a familiar and consistent payment experience for users and merchants in both Customer Present Mode (CPM) and Merchant Present Mode (MPM).
The collaboration framework of HIVEX harnesses the user and merchant relationships of participating MPSPs, resulting in expanded coverage and an increase in usage and payment volumes. TBCASoft’s groundbreaking solution offers unparalleled convenience and enhanced payment options to users, leading to increased business opportunities for MPSPs.
Ling Wu, Founder and CEO of TBCASoft stated, “We are thrilled to partner with Bizplay and Zero Pay and have them join the HIVEX Network. Korea’s vibrant mobile payment ecosystem makes it an ideal partner for our innovative service. With Zero Pay’s extensive and strong presence in Korea, we are confident that this partnership will unlock new opportunities for the Zero Pay ecosystem.“
Dr. Taesung Jung, CEO of BePle, a subsidiary of Bizplay remarked, “We are excited to become a part of the HIVEX Network. Through this collaboration and leveraging HIVEX’s secure and innovative service, Bizplay can expand the reach of the Zero Pay ecosystem to cater to the ever-expanding global mobile payment user community. Our goal is to promote a cashless society within the South Korean payment ecosystem and extend it to international visitors with this exciting partnership.”
About the HIVEX Network
The HIVEX Network is an international membership of MPSPs and enables user and merchant acceptance sharing without POS changes. TBCASoft, the innovator and developer of the HIVEX Network, provides proprietary technology that optimizes transaction processing and clearing between MPSPs and any other companies approved to participate in the HIVEX Network.
TBCASoft is a U.S.-based company developing innovative blockchain technology for MPSPs and other growth sectors. Its consortium-based blockchain platform enables MPSPs to create innovative services for their users under a more secure, robust, and efficient environment.
TBCASoft, Inc. (USA)