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MobiCom and XacBank launch the "Candy" Payment Card

10/11/2018

KDDI CORPORATION

October 23,2018

-- Ulaanbaatar, Mongolia On October 1, 2018, KDDI CORPORATION subsidiary MobiCom Corporation LLC announced at ICT EXPO held in Ulaanbaatar that it has launched the Candy Payment Card in partnership with major Mongolian bank XacBank.

MobiCom and XacBank concluded a partnership agreement in September 2017, in which XacBank would issues debit cards designed for MobiComs Candy e-money which rewards customers with Candy points cash-back worth 1% of the value of each purchase.

The Candy e-money service offers Candy cash-back reward when the card is used to pay for MobiCom services and purchases at Candy companies. Each Candy is worth 1 Mongolian tugrug (MNT), and can be used to pay for MobiCom services or purchases at more than 4,500 Candy merchants online & offline shops.

At the ICT Expo on October 1, 2018:

XacBank CEO Boldoo Magvan (2nd from left) and MobiCom CEO Tatsuya Hamada (3rd from left).

The Candy-XacBank Debit Card

In March 2018, MobiCom introduced Candy Pay, a prepaid e-money service that provides users with easy access to their Candy account through a smartphone app. Candy Pay users can use the app at merchant eco-system within Mongolia, and use QR codes for payments as well. These and other features have attracted interests from the FinTech field.[

1]

Through its latest partnership with XacBank, MobiCom will continue to improve its services while also keeping an eye out for opportunities to provide new telecoms and financial services. This is how MobiCom contributes to development in Mongolia.

Reference: MobiCom and XacBank launch the Candy Payment Card

(Reference) About MobiCom MobiCom is a total telecommunications service provider, supplying mobile, fixed line and satellite communication services in addition to a wide range of ICT services, and holds the largest market share [

2] of Mongolias mobile subscribers.

KDDI has invested in MobiCom from its founding in 1995, making ongoing contributions to development of Mongolias communications industry. KDDI will apply its accumulated worldwide knowledge and experience to continue powering the growth of MobiCom and Mongolias telecommunications environment.

History November 1995 KDDI, Sumitomo Corporation and Newcom LLC enter the Mongolian market, establishing a joint telecommunications venture

March 1996 Launched 2G GSM service

March 2009 Launched 3G W-CDMA service

2011 Obtained ISO 9001 quality management system certification

2012 Obtained ISO 27001 information security management certification

August 2014 Launched Candy Point Program

March 2016 KDDI consolidated MobiCom

May 2016 Launched 4G LTE high-speed data communication service inUlaanbaatar

December 2016 Launched Candy e-money service

March 2017 Launched Candy Message Loan service

July 2017 Obtained Mongolias first international standard OHSAS18001 certification for implementation and operation of (MobiComs) Occupational Health and Safety Management System

November 2017 Introduced Mongolias first carrier aggregation in 4G LTE

December 2017 Received the Grand Prix at the Entrepreneur Awards

March 2018 Honored by the Mongolian National Chamber of Commerce and Industry with the Chambers Silk Road Award in the Best Socially Responsible Company category.

September 2018 Mutually connected with the KHUR Mongolian national population database, enabling simplified contractual agreements using fingerprint verification.

Notes:

[1]

FinTech combines the meanings of finance and technology in reference to the application of state-of-the-art IT to innovative financial services and activities designed to create and explore new services.

[2]

Latest data, as of December 2017.

This press release is an abridged translation of

the press release announced in Japan.

The information contained in the news releases is current at the time of publication. Products, service fees,service content and specifications, contact information, and other details are subject to change without notice.
LINK: https://news.kddi.com/kddi/corporate/english/newsrelease/2018/10/23/34...
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