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Mozido Takes On Mobile Payments

Dallas-based Mozido, the venture backed developer of mobile payment products, said Tuesday that it has launched a new, mobile wallet platform called Genius Wallet. The firm said the new product is aimed at both the unbanked and banked consumer market, connecting mobile phone users with partner MoneyGram. The new software allows mobile phone users who send or receive remittances via MoneyGram to make purchases and redeem rewards via the app. Mozido's Chairman is Richard Braddock, the former President and CEO of Gitigroup, and former Chairman and CEO of Priceline; the company is led by Greg Corona. Mozido is backed by TomorrowVentures, the venture capital firm of Google Chairman Eric Schmidt.