COLDSKY.CN – Mobile payment service provider Munitedpass（汇商通盈）raised tens of millions of yuan in the Series A round of financing from an undisclosed investor, 36kr.com reported.
The company, established by Swiftpass(威富通), acts as a payments gateway to SMEs that use QR code to process settlement , such as using AliPay or WeChat Pay, in cooperation with banks. For example, it helps banks promote point of sale devices compatible with QR payment and assists merchants to apply for loan online.
The company’s app and desktop software allows businesses to quickly launch loyalty programs and support marketing efforts with lower management and financial costs. GMV transacted through the company reached hundreds of millions of yuan.
Instead of relying on the charges or shared profits in the transactions, the company has improved efforts to offer the digital marketing service, which accounts for half of the revenues. It has co-worked with over 200 ERP developers.
Deputy president Wang Deyong said the start-up now runs three main solutions for merchants, banks and software developers and specializes in retails, catering and educational sectors.
Munitedpass also received investment from IDG and CASTD(中国科研开发院) in 2017.