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U Mobile Is Building Their Own Fintech Ecosystem With GoPayz And GoBiz

U Mobile has revealed their plans to dive into the fintech ecosystem with their new platforms – GoPayz and GoBiz – designed around the core values of being accessible, affordable and inclusive.  The former will be a universal e-wallet offering digital financial and lifestyle services for general consumers while the latter a digital payment acceptance solution for all types of businesses.

Slated for release in July, GoPayz and GoBiz offer a comprehensive range of services for both B2B and B2C customers including life insurance, general insurance and even online currency exchange which provides delivery your exchanged currencies to your doorstep. 

GoPayz can be used locally as well as internationally as it works with Visa, MasterCard and UnionPay. Customers will earn loyalty points in the form of GoPointz when they spend on transactions. U Mobile has put in place security and fraud detection measures to ensure the safety of usage with all payment transactions being encrypted and protected 24/7. GoPayz will be available in mobile app form as well as on the web. Users can also opt to get an optional GoPayz physical card.

Meanwhile, GoBiz has also partnered up with Visa, MasterCard and UnionPay so merchants will be able to accept payments from both local and international customers. Businesses can digitise their payment acceptance with solutions which includes mobile point-of-sale (mPOS) and mobile virtual terminal (MVT). GoBiz merchants may opt for additional revenue-generating services such as telco prepaid top-ups, bill payments and even game points to offer to their customers. All transactions will be performed in a safe and secured manner in accordance to regulatory and card scheme standards. The application process for GoBiz will be a hassle-free experience with approval to be given within three working days. More information of GoBiz can be found here.

“U Mobile’s intention with our fintech ecosystem is to empower all, be it consumers or businesses. Hence, GoBiz seeks to enable all businesses, even the smallest of traders, to accept digital payments from customers and offer additional revenue-generating services like telco prepaid top-ups and bill payments to their customers.” – Jasmine Lee, Chief Marketing Officer of U Mobile

We will learn more when the two services officially take off the ground next month.

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