- Provider of mobile payment tools
- Using social media to drive ecommerce
- Marketplace that links offline and online
A look at Nielsen’s latest Global Mobile Money Report (http://dtn.fm/C8SXf) shows that Moxian, Inc. (NASDAQ: MOXC) is in the right place at the right time. The Nielsen report shows that close to half of Chinese consumers are likely to use a mobile device to pay their bills in bars, restaurants and retail stores, a far, far higher number than in the U.S. or Europe. This revealing statistic, coupled with Moxian’s position at the nexus of online retail establishments and their brick-and-mortar counterparts, gives the tech company a bet on both ecommerce and traditional retailing. The company, based in mainland China, operates an online platform that uses the drawing power of social media to drive business to small and medium-sized enterprises (SMEs). Now, with its capability to handle mobile payments recently upgraded, Moxian is likely to see its bets on O2O commerce pay off handsomely in the near future.
Although, at present, global online sales are still only about 10 percent of overall retail sales, its trend has been ever upward. Moreover, that global average hides some eye-opening detail. While in North America and Western Europe online accounted for 7.7 percent and 8.2 percent of the overall retail market in 2016, respectively, the retail market in China is running at around 12 percent of total consumer sales, according to data reported by Deloitte (http://dtn.fm/2ldKN). In 2015, total retail sales of consumer goods in China were valued at $4.61 trillion, which puts online retail in China at around $553 billion, a mind-boggling level of exchange that surpasses the national income of 191 countries of the 211 recognized by the United Nations as sovereign states.
Already, many of these online transactions are being initiated through mobile devices, with some analysts estimating that, in China, mobile accounts for around three-quarters of all online payments. A study by the Financial Times, reported by NPR (http://dtn.fm/Q083n), says that the ‘Chinese spent $5.5 trillion through mobile payment platforms last year, about 50 times the amount in the U.S.’ So powerful is the trend to mobile in this country of 1.3 billion, some commentators are suggesting (http://dtn.fm/dSS9j) that ‘China… the first country in the world to use paper money… (may) be the first to stop. In Beijing it is hard to find a product or a service that cannot be purchased with a mobile.’
Moxian is cashing in on this cashless trend. In early 2017, the company announced the launch of a new version of its Moxian User App and Business App (New Version Apps) that feature built-in UnionPay payment modules. This follows the company’s strategic partnership with Beijing Chinaums, a subsidiary of China UnionPay, in December 2016.
This seamless integration of Moxian’s proprietary virtual currency engine and UnionPay’s powerful payment gateway will allow users (merchants and shoppers) of the New Version Apps to process payments through UnionPay’s payment gateway, which also supports payments from Alipay and WeChat Pay. The UnionPay payment gateway also meshes seamlessly with Moxian’s MO-Coin and MO-Point system, which rewards customers who use and process payments with the New Version Apps. The Moxian Software Machine also tracks customer behavior, which in turn allows Moxian to provide the participating merchants with complete and detailed analytic data and tools. Merchants on the Moxian Marketplace can study the behavior of their customers and respond with precise targeted marketing campaigns.
Moxian is out to make smartphone payments while shopping easier for the Chinese consumer, whether buying online or at a favorite bazaar. For the merchant, the company provides access to the latest, most sophisticated marketing tools. As China ditches cash, the Moxian O2O Marketplace looks set to continue blurring the line between offline and online commerce.
For more information, visit the company’s website at www.Moxian.com
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