SHENZHEN, China, April 20, 2017 /PRNewswire/ -- Moxian, Inc. ("Moxian" or the "Company") (Nasdaq: MOXC), an offline-to-online (O2O) integrated social media platform operator, today announced the launch of a new version of its Moxian User App and Business App (the "New Version App") that features built-in UnionPay payment modules. This follows the Company's strategic partnership with Beijing Chinaums, a subsidiary of China UnionPay ("UnionPay") in December, 2016 as previously announced in the Company's press release on December 5, 2016.
With the seamless integration of Moxian's proprietary virtual currency engine and UnionPay's powerful payment gateway, the New Version App enables all of the customers in the China market and participating merchants to process payments through the integrated UnionPay's payment gateway that supports payments from Alipay, WeChat Pay and UnionPay. This three-in-one UnionPay's payment gateway also ties with Moxian's MO-Coin and MO-Point rewards system which rewards customers who use and process payments on the New Version App and traces the customers' behavior which in turn allows Moxian to provide the participating merchants with complete and detailed analytic data and tools. This detailed analytic data and tools will in all ways enable the participating merchants to study the customers' behavior of its customers and to carry out precise marketing to effectively increase new customers and at the same time retaining old customers.
According to reports by iResearch in China and Forrester Research, the value of Chinese third-party mobile payments more than tripled to US$5.5 trillion in 2016, compared to US$112.0 billion in the U.S. A study completed by HSBC valued the O2O market at USD1.6 trillion per year.
From the trials of New Version App conducted by Moxian in Shenzhen and Beijing, the average gross merchant value ("GMV") for each merchant is estimated to range from US$10,000 to US$100,000 per month. Following the trials, Moxian launches the New Version App in Shenzhen, Beijing and Guangzhou with a target to recruit up to 100,000 merchants into Moxian's platform and to achieve a monthly GMV of US$1.0 billion in the following months.
The average fee which the participating merchants will share with Moxian in return for the use of services on Moxian platform, which includes payment services, customer relation management services and digital sales and precise marketing tools, ranges between 0.5% to 4% per transaction value transacted via the three-in-one UnionPay's payment gateway on the New Version App.
"The implementation of UnionPay into our App is a big game changer in our strategy. Through various methods, we are able to capture both users and merchants by enticing users to spend at merchant stores, which in-turn boost our active users and transaction value to merchants. Merchants are also able to gain a holistic view into user behavior through our platform which could prove to be critical for merchants to carry out promotions in a most cost-effective and efficient way and thus advantageous versus competition," said James Tan, Chairman and Chief Executive Officer of Moxian. "We also look forward to potentially developing similar relationships with other UnionPay subsidiaries and other leading enterprises to accelerate the growth of our merchant and user bases in the future."
About China UnionPay and Chinaums
China UnionPay ("UnionPay"), established in March 2002, is the bankcard association in China. As the pivotal role of Chinas bankcard industry, China UnionPay is responsible for operating unified inter-bank clearing and settlement system in China and developing the international acceptance network for UnionPay card. To date, the total numbers of bank cards issued and ATMs owned by UnionPay have exceeded 5 billion and 2 million, respectively, covering over 34 million merchants in 157 countries and regions. In 2015, UnionPay realized RMB 53.9 trillion transaction amount and surpassed VISA to become the largest settlement organization around the world. For more information about UnionPay, please go to www.chinaunionpay.com.
Established in 2002, Chinaums is a majority owned subsidiary of UnionPay with primary businesses in bank card acceptance, POS terminals, and mobile payment services. Chinaums is the largest bank card acceptance service provider in China and among the first batch of 27 financial institutions granted the third-party online payment business license from the People's Bank of China in May 2011. To date, Chinaums serves over 6.3 million merchants and owns over 7.8 million Point-of-Sale ("POS") terminals. More information about Chinaums can be found at www.chinaums.com.
About Moxian, Inc.
Founded in 2013 in Shenzhen, China with branch offices in Beijing, Malaysia, and Hong Kong, Moxian, Inc. is an offline-to-online (O2O) integrated platform operator. The Company's "Moxian+" mobile App platform connects Users to Merchant Clients through games, rewards and social events that they enjoy and in return, Users provide valuable information that Merchant Clients can use to effectively promote products and services offered at their brick and mortar stores. More information about the Company can be found at www.moxian.com.
This press release may contain information about Moxian's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Moxian encourages you to review other factors that may affect its future results in Moxian's registration statement and in its other filings with the Securities and Exchange Commission.
For more information, please contact:
At the Company
Phone: + 86 755 83580755
Tony Tian, CFA
Weitian Group LLC
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SOURCE Moxian, Inc.