On May 28, Harex InfoTech Inc. (Park, Kyung Yang, CEO), UBpay (User Centric Mobile Payment Shared Platform) Service Provider, signed a business cooperation agreement with NDS-Nongshim Data System (Kim, Joon Won, CEO) to develop and jointly provide combined services related to hospitals and pharmacies.
Harex InfoTech Inc. provides Medical FinTech services that allow users of hospitals and pharmacies to pay for medical treatment and hospitalization fees, transferring electronic prescriptions to the drugstore, and payment for prescribed medicines on their smartphones. NDS distributes the Smart Hospital mobile platform that includes hospital related services such as reservation, reception, payment, prescription, insurance claim, hospitalization and discharge, medical checkups, and health note services.
Under the agreement, the two companies will combine solutions owned by each company and integrate all services carried out in hospitals, from medical appointments to insurance claims, into a single mobile platform, allowing users conveniently use the combined services not only with hospital apps but also within other apps.
Currently, all hospital services are provided from within hospital apps, but due to the low penetration rate of hospital apps, the services are not actively used. In addition, the scope of services provided is scattered across multiple companies, creating inconvenience for users and reduced satisfaction for hospitals offering the service because they don’t see the expected benefits, such as reducing customer’s waiting time or reducing cost.
Harex InfoTech Inc., the originator of mobile payment services, runs a user centric mobile payment shared platform that has no intermediary service entities in payment transactions. The UBpay platform is freely shared by all other businesses and service providers based on an alliance partnership. All partners that share the UBpay platform provide user centric mobile payment services under their own brands to their own individual users. Harex InfoTech Inc. expects high synergy from this agreement with NDS and their accumulated know-how in carrying out various health and medical institution projects.
■ 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 multiple critical patents applying to almost every step of mobile card payment services, multi-factor authentication systems combining PIN and biometrics, payment, cash out and remittance services via 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 customized services to its alliance partners, including financial institutions, merchants, social-media, and various service providers by sharing Harex InfoTech’s own user centric payment platform, opening a whole new user centric economic world and creating true sharing economy.
■ UBpay–‘User Centric Mobile Payment Shared Platform’
UBpay, short for Universal Benefits, is mobile payment, banking, and commerce shared platform that offers an integrated payment service for users through their smartphones with all issuers in S. Korea. By enabling users’ smartphones to request payment authorization directly from the financial institutions (like banks or credit card companies), UBpayis entirely differentiated from conventional payment services in which merchant processors (router) request payment authorization from the financial institutions via middlemen.
Unlike conventional payment services that require the merchant to have the user’s financial information, UBpay users authenticate directly with 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 malls), culture land (gift certificate exchange), APT maintenance and utility billing (8.5 million households), highway toll payment, railroad, taxi, public home shopping, hospital, traditional markets and 550,000 affiliated merchants including small mom and pop stores nationwide, in collaboration with Zero pay, sponsored by the S. Korean government.
When any business that currently offers their own service apps share the UB platform through a partnership with UBpay, free of charge, they are able to provide not only mobile payment services but also diversified online to brick and mortar services with their own brands. Small merchant’s can utilize UBpay’s “My Shop” service that enables small merchants to offer mobile order & pay,pick-up or delivery, and mobile-based customer rewards services like loyalty points, coupons, and stamps. They can sell their products and services via mobile, “Taxi Call and Pay by mobile”, “Medical FinTech” services offering users one-stop medical service including hospital payment, e-prescription transfer to drugstore, and drugstore payment with allied medical insurance service, “Recurring Payment” service, etc. 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.
