Mia Zhu, president and CEO of Mobius Payments, knows A to Z about online processing, particularly within the high-risk adult space, where the exercise to pivot and change with regulation and policymaking is constant.
Specializing in high-risk merchant activation in the U.S., E.U. and Asia, Mobius Payments puts an emphasis on helping businesses streamline their payment processes, allowing for greater control, flexibility and speed.
The adult business industry is near and dear to me. I have been serving the space for over 10 years and many of my clients have become my friends. —Mia Hyun, CEO of Mobius Payments
XBIZ World last month discussed with Zhu how her company has rolled to where it stands today, as well as what the future holds for the processor.
XBIZ: What are some of the most valuable lessons you have learned about adult billing during your time in the space?
HYUN: Always trust my gut. During the course of 10 years, the card associations have made quite a few changes, which have affected bank guidelines and policies in online billing.
We have worked to educate and guide merchants through these changes. Merchants planning for growth need to understand risk mitigation. I always recommend having a secondary merchant account and taking CVV2 security when processing orders.
XBIZ: High-risk processing is a space with quite a lot of competition. What are some of the things that make Mobius Payments stand out in such a crowded field?
HYUN: We have been in the online payments space since its infancy. Service and our banking knowledge are our competitive differentiators. As a service provider, we have a reputation of being efficient and competent.
XBIZ: As the founder and CEO of Mobius Payments, what are some of the biggest challenges that you face in a typical week?
HYUN: Being an entrepreneur has its ups and downs. The biggest challenge week to week is balance. Finding the balance between the need for what is urgent and more reactive short-term, and the need for informed long-term strategies. I am often working towards balance.
XBIZ: How about customer service at Mobius Payments. How quickly can clients get issues resolved?
HYUN: Everyone at Mobius Payments is essentially in customer service. We have exceptional response times. Most problems are resolved within the initial phone call. If a problem ticket is entered we will often have a fix within the same day. We also put a lot of focus on helping clients avoid problems before they happen.
XBIZ: Many people in the adult industry are seeing substantial growth in the mobile sector. From a billing standpoint, what steps must webmasters take to be as mobile friendly as possible?
HYUN: It has been projected that by 2018 nearly half of e-commerce will be transacted through a mobile device. So making sure the business site is mobile friendly and renders in the appropriate size is an online business necessity. Using advancements in mobile technology to keep the checkout process as user friendly as possible yet keeping security a priority will be key.
XBIZ: On the whole, how knowledgeable do you find American webmasters to be when it comes to billing in foreign markets? How great is their understanding of non-U.S. billing needs and what steps do you take to education them?
HYUN: Most of the business owners we work with are well educated and understand their market. They have been reviewing their analytics daily, and as their customer base grows, they make an informed business decision to move into foreign markets.
Mobius Payments offers a multi-currency platform that has more than 50 cardholder currencies. We will guide each merchant through the additional steps required for a multi currency product and work with them from implementation, testing and launch.
XBIZ: In what ways do you see Mobius Payments evolving in the coming years? What changes in adult billing space do you foresee, and what steps still Mobius Payments take to address them?
HYUN: Mobius Payments will be steady and focused in the coming years. We will be staying our course, and continue to grow our offerings and relationships. We have been gearing up for EMV, implementing additional PCI protocols and sending out enhanced terminal updates for brick-and-mortar merchants. It’s been quite an interesting sales opportunity. The exercise to pivot and change with regulation and policy changes makes us stronger and more focused on our objectives to serve and grow. And this is the exact manner we would address any changes in adult billing. It’s what we do.
XBIZ: How important is it to be connected with peer organizations in the high-risk electronic space?
HYUN: I think staying connected with peers in the electronic space is paramount. Open communication with card association representatives and a continued dialogue with peers in the high-risk space help us to stay mindful and receptive to a constantly changing landscape.
XBIZ: How important is it to make a presence at the adult industry trade shows?
HYUN: Strategic networking is still one of the most powerful marketing skills in business. The adult trade shows are a key catalyst to ensure conversation, connection and building relationships. It’s also an excellent way to keep up with the dynamics of the adult industry and develop knowledge resources.
XBIZ: What are some of the things that make the adult billing field exciting for you?
HYUN: The adult business industry is near and dear to me. I have been serving the space for over 10 years and many of my clients have become my friends. Mobius Payments enjoys sharing what we’ve learned in payment processing through the years with our clients, whether it’s finding new ways to help them evolve with the latest technologies and banking policies, or helping new comers get up and running in the most efficient manner.
