Mung Ki Woo Will Lead The Acceleration of OmnyPay's International Footprint, Bringing Rich Digital Commerce to Large Retailers
COPENHAGEN, Denmark, April 4, 2016 /PRNewswire/ -- Money 20/20 EUROPE -- OmnyPay, the leader in one-step redemption of loyalty rewards, coupons, and offers during payment on mobile, announced today that MasterCard senior executive Mung Ki Woo will be joining OmnyPay's leadership team in the role of Chief Partnerships and International Officer. Woo brings more than two decades of digital commerce expertise to the team, which he will apply to his new role by helping brands evolve with consumer purchasing patterns in ways that were previously unfeasible.
"Globally, traditional retailers with brick and mortar stores are faced with profound changes, especially with the mobilization of consumer shopping habits that require them to respond accordingly," stated Mung Ki Woo. "OmnyPay's technology embraces the evolution in consumer expectations in ways that enable brands to deliver vibrant new shopping experiences that increase customer loyalty and revenue."
Prior to joining OmnyPay, Woo served as an Executive Vice President of MasterCard and led the development of mobile product platforms around the globe. His teams built tokenization services used by Apple Pay, Android Pay, and Samsung Pay. He previously served as Vice President of Electronic Payments and Transactions at Orange, where he created the "Orange Money" mobile payment program across Africa and The Middle East. The program had 10 million customers and 4 billion Euros worth of transactions as of 2014. Woo also guided the deployment of mobile contactless services in Orange's European operations. He is a graduate of Ecole Polytechnique and Telecom ParisTech and speaks three languages. Woo is also a Visiting Professor in the Design Management Program at the Pratt Institute.
"We are ecstatic to have Mung Ki join our team. OmnyPay continues to experience strong demand from large retailers who want to increase customer loyalty and deliver innovative, omni-channel shopping services," said Ashok Narasimhan, CEO and cofounder. "His wealth of experience delivering digital commerce solutions will enable OmnyPay to stand on the shoulders of giants, to serve large retailers and other brands effectively in international markets."
Now more than ever, shoppers are demanding more mobile, in-store services, according to research by Accenture. Ninety percent of consumers use their smartphones in-store while shopping and 79% could be incentivized to increase app usage with personalized notifications. In the global apparel vertical, 26% of global apparel shoppers expect to purchase more via their smartphones in 2016.
OmnyPay offers large brand retailers a fast, rich checkout solution that transforms the ways consumers use their mobile devices to purchase products, empowering global businesses to build tailored "brand pay" experiences into their existing mobile applications. Using a cloud-based architecture that is secured by HCE and dynamic tokenization, OmnyPay integrates seamlessly into retailer mobile offerings with standardized APIs. The OmnyPay solution quickly deploys without POS recertification dependencies or lengthy development cycles. The platform also offers upgradable features and functionality that retailers can use to build the next-generation shopper experiences that are in their product roadmaps.
OmnyPay executives are demonstrating ways businesses can leapfrog retail payments into the next generation during the Money20/20 Europe conference in Copenhagen from April 4-7 at Booth #K-17. Mohammad Khan, President and cofounder of OmnyPay, will take the stage to talk about the "White label 'Brand Pay' solution with simplified digital checkout experience" on April 5th, 2016 in Track Room 5 at the Bella Center.
OmnyPay empowers brands to build a private-label commerce ecosystem that encourages consumers to use their mobile phone for all aspects of their buying journey. Through data-rich interactions, OmnyPay partners deliver personalized promotions, payment processing, and loyalty rewards, which increase average order value for businesses and customer lifetime value. The company is headquartered in San Francisco and led by senior executives with deep experience in payments, mobile, retail, and commerce. For more information, visit www.omnypay.net or follow us @OmnyPay.