HIVEX, a Secure and Interoperable Cross-Border Payment Network developed by TBCASoft for Mobile Payment Service Providers.
HIVEX, a Secure and Interoperable Cross-Border Payment Network developed by TBCASoft for Mobile Payment Service Providers.
Merchant-Scan Transactions are Now Enabled on HIVEX for International Mobile Payment Users to Seamlessly Scan-and-Pay at Major Retail Merchants in Japan
SUNNYVALE, CA, USA, February 28, 2024 /EINPresswire.com/ -- After the successful October 2023 HIVEX®️ payment network launch of MPM (Merchant-Present Mode; when a consumer uses their mobile app to scan a QR code), HIVEX is now launching CPM (Consumer-Present Mode), which enables a merchant POS scanner to scan QR codes and/or barcodes on the consumer’s mobile device. CPM service begins on February 29, 2024.
Ling Wu, Founder and CEO of TBCASoft said: “This is the first time Japan’s largest payment brand has shared their extensive CPM merchants with any partner. The CPM launch reflects their recognition of HIVEX’s stability and reliability. As a result, HIVEX’s coverage in Japan is much greater than ALL other foreign inbound payment brands. All users of HIVEX’s partners will directly benefit from HIVEX’s leading coverage in Japan.”
Since launching HIVEX, the Network has seen zero downtime and zero failed transactions, with 99% of the transactions completing in a few seconds. The user experience has also been highly engaging with 74% repeat users on the network. With around 60% of HIVEX transactions occurring at card-accepting merchants and 40% at cash-only merchants, users are showing a strong preference to pay with their mobile payment app, instead of using cards or cash while traveling.
The CPM launch continues to build on the existing advantages of the HIVEX Network. Mobile Payment Service Providers (MPSP) only need a one-time integration with HIVEX to gain access to an extensive network of merchants across multiple countries. In addition, HIVEX Members retain their unique QR code format and do not need to modify merchant POS systems to achieve interoperability with other MPSPs.
Simultaneous with the CPM launch, TBCASoft also welcomes over 4 million PXPay Plus mobile payment consumers to the HIVEX Network. PXPay Plus users can travel to Japan and make secure CPM or MPM purchases at the millions of HIVEX-enabled merchants just like they would make a purchase at home. The HIVEX Network ensures a familiar and consistent cross-border payment experience for customers and merchants.
About the HIVEX Network:
The HIVEX Network is an international membership of MPSPs that facilitates merchant acceptance sharing. TBCASoft provides proprietary technologies that optimize transaction processing and clearing between payment service providers and any other companies or businesses approved to participate in the HIVEX Network.
Furthermore, the Network is a collaboration with leading MPSPs in Japan and Taiwan. They include PayPay Corp., a major player in Japan that has more than 61 million users and 4.1 million affiliated merchants. The MPSP participants from Taiwan includes E.SUN Bank, JKOPAY, and PXPay Plus, that collectively represent more than 12 million users. HIVEX enables the Taiwan MPSP users to continue using their trusted mobile payment applications to make CPM or MPM purchases at PayPay-affiliated stores in Japan.
About TBCASoft:
TBCASoft is a U.S.-based company developing innovative blockchain technology, such as the HIVEX Network, 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.
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HIVEX Across Japan: Within 3 weeks after launch, HIVEX (partnered with PayPay) enabled transactions in all 47 Japan prefectures.
