China is a huge but challenging market for external payments companies, and Canadian contactless payment provider Mobeewave is seeking help in the ground by partnering with the Alliance Development Group.
ADG helps global technology firms assess their strategic options in China and execute them. It plans to work with the Montreal-based Mobeewave's business development team to forge partnership with original equipment manufacturers of mobile devices in China, it said in a June 29 news release. PayPal and EyeVerify are among the other firms whose presence ADG has helped usher into China.
China is a key business region for Mobeewave, whose technology allows in-person money collection through Near Field Communications-enabled phones that accept NFC payments from a contactless card or mobile wallet. Seven of the top global smartphone vendors, including Huawei, Lenovo and Xiaomi, are based in China.
"ADG's expertise in mobile and FinTech and their strong connections with Chinese OEMs will strengthen Mobeewave's footprint in what is a key market for the company," Maxime de Nanclas, chief operating officer and co-founder of Mobeewave, said in a June 29 news release. "Developing relationships in this region is of the utmost importance for us as we look to provide our key differentiator solution to the world's leading OEMs."
Mobeewave's solution does not require an additional card reader and encrypts sensitive information within the device.