Yubo is a mobile payment solution focusing on user experience and convenience. The application allows users to buy online products directly through the app, paying driver-partners and individual merchants.
Founder
Yubo was founded in 2015 by David Li and Allen Guo. David Li is a serial entrepreneur and angel investor in China. He previously worked at Google, Twitter, Tencent, Alipay, and other prominent companies.
Product/Service
The Yubo mobile application allows users to shop, pay for services and transact local commerce across over 50 countries. The app is available in English and Chinese (simplified and traditional). The app facilitates online and offline purchases by allowing users to scan a QR code for payment instantly. The feature is offered exclusively through the Yubo App, with the ability to make payments faster, easier, and safer than traditional methods. The app also provides “YubiKey” security tokens that can be shared across all your Yubo accounts and make it easier to pay others without having access to a traditional PIN.
Partnerships
It has partnered with Hive, one of the largest P2P lending platforms, to allow users to lend money to trustworthy driver-partners. This will enable its users to pay a driver-partner directly through the app, which saves time and headaches that come with traditional payment methods. The Hive partnership is one of many strategic partnerships. It has forged over the past year. These partnerships include Pinduoduo, AliPay, and others.
Charter
In September 2015, it launched a product trial program to test the mobile app with users across China. The program was meant to ensure the user experience matches the company’s vision of providing instant and secure transactions. The company has since expanded this program domestically by increasing the number of cities and commercial districts involved in the trial.
It has been featured in numerous television shows and articles, including Forbes, People’s Daily Online, Xinhua News Agency, TechCrunch, and CNET.