What is MobiePay (MBX) | What is MBX token

Welcome, gentle reader, to a simple introduction of Mobie and why this no brainer, twin consumer/merchant solution, paves the way for quick and easy real-life everyday transactions blending fiat and crypto.

The Mobie Ecosystem

What are Mobie, MobieX, MobiePay, and MobieCoin?

The trifecta of Mobie products all operate in tandem to form the Mobie ecosystem, which is powered by MobieCoin. To help you get an understanding of how all of this works in unison, let’s quickly go over how each of these **features **works.

MobieWallet

The Mobie mainstream consumer wallet will be a familiar experience to all those in mobile banking. This mobile and web app works just like your everyday bank account. With a debit card or mobile phone, Mobie allows you to: use contactless payments, send money peer-to-peer, pay your bills, and shop in-store or online. While using Mobie you earn instant cash back and rewards, which you can either spend on yourself, send to friends or family, or donate to charity.

MobieX

For seasoned cryptocurrency holders, this won’t be any different to your existing crypto wallet… with so much more. With MobieX, users are able to manage their crypto assets, purchase tokens and cryptocurrency, and seamlessly exchange with other fiat currencies from around the globe with no fees. Linking with the MobieWallet, MobieX allows for real-time cross border transactions that’ll use your existing assets to pay whatever the local merchant requires**.**

MobiePay

At the Point of Sale (POS), MobiePay is how merchants receive funds from users within the Mobie network. Merchant benefits include:

• Receiving payment in their local currency (regardless of the consumer’s choice of payment), — Benefit from ultra-low transaction fees
• Eliminating chargebacks
• Allowing for contactless mobile payments

All of this means flexible options to receive and make payments, better margins for the merchant, and happy customers. The best of all worlds!

In addition to the logistical benefits of MobiePay, merchants are able to leverage MobiePay’s proprietary data platform to optimize direct marketing and promotions for their loyal customers. MobiePay users receive cash back bonuses from top global brands & retailers for everyday purchases at physical and online locations, and so are incentivized to use merchants partnered MobiePay. Merchants can easily create special offers and receive affiliate benefits when introducing new customers into the Mobie family, adding another opportunity for revenue.

MobieCoin

The fuel which allows to Mobie ecosystem function is the integrated payment & rewards token called MobieCoin. This token is the core technology powering the platforms and is an exchangeable, tradeable asset that will become a global currency, frictionlessly usable across borders. MobieCoin acts as a universal rewards token providing a frictionless loyalty program for all Mobie merchants and partners.

Why do we need Mobie?

Mobie believes in the long-term impact that cryptocurrency is having in facets of our day-to-day lives. However, there are still barriers that hamper mainstream adoption of this technology. Mobie seeks to break down these barriers and bridge the gap through one wallet with many possibilities.

Increase mobile payment adoption

The rise of mobile payments has been  extremely beneficial to the  consumer banking industry worldwide and is leading to a  cashless society in some countries. At the same time,  adoption has been slow in the US. With the incentives provided by Mobie including cash back with some of the world’s favorite brands, we provide the trigger that causes consumer and merchant to switch from traditional cash, credit cards and checks to MobiePay.

Instant cryptocurrency conversions

With the Mobie infrastructure, the ecosystem has the ability to convert cryptocurrency quickly into fiat, thus increasing liquidity, freeing up cryptocurrency for instant and everyday transactions.

Merchant payment processors aren’t agile enough

Current POS systems rely on multiple processors to handle a transaction, with each layer adding a level of risk and complexity that ultimately drives up costs for the consumer. By using the existing point of sale equipment or mobile devices with MobiePay, we look to encourage fast adoption with the unique direct payment protocol for merchants. This will drastically reduce the potential for fraud and chargebacks.

Effective Cross-border transactions

Mobie allows for low friction cross-border payments allowing the community to use their funds around the world, from wherever they please.

How does Mobie compare?

With all of these great features, Mobie is in a prime position to lead the  revolution in payment solutions. Mobie is providing an ecosystem that serves the everyday consumer while introducing them to the benefits and perks of blockchain technology, cryptocurrency, and ultimately MobieCoin. To do this, Mobie offers a holistic solution that incorporates the popular elements of existing POS technology, while adding heaps of additional benefits.

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