mozido

Mozido Acquires Mobile Commerce Company CorFire

December 18, 2014         By: Melanie Macinas

Mozido, a provider of cloud-based mobile payments and retail engagement solutions, is expanding its global reach by acquiring majority ownership in U.S.-based mobile commerce company CorFire.

With this acquisition, the Texas-based company will gain a two-billion user reach through relationships with six mobile network operators (MNOs), as well as powering one of the most successful closed-loop mobile wallet apps in the Dunkin’ Mobile App.

With CorFire’s advanced technology platform for NFC-enabled payments and Mozido’s very own MoTEAFTM platform, Mozido positions itself as a leader in NFC and cloud-based mobile payments.

“CorFire is a strong global mobile commerce player,” said Michael Liberty, founder and Chairman of Global Strategic Initiatives at Mozido. “By adding its strength in NFC-enabled mobile wallets to Mozido’s extensive mobile financial services and retail marketing capabilities, we can now give merchants around the world access to a powerful mobile ecosystem that adds monetization features to mobile programs.”

CorFire is known for its three core technology solutions: a Trusted Services Manager (TSM) platform (CorTSM), a state-of-the-art suite of mobile marketing services (CorMKT), and a robust mobile wallet platform (CorPay).

With the integration of the two companies’ technologies, existing CorFire users will see an improved mobile commerce and financial services solution.

This includes a combined, more extensive foundation of MNO relationships that extends the reach of CorFire and Mozido’s solutions to billions of merchants and consumers; enhanced mobile wallet functionality that adds monetization features to current mobile offerings; and new mobile loyalty, proximity marketing, and engagement services.

Meanwhile, CorFire’s previous owner SK C&C, will remain an investor in CorFire.