COD GROUP

What COD GROUP does

COD GROUP (legal entity COD Payment Limited) is a Hong Kong-headquartered digital commerce and payments technology company that operates a multi-product platform spanning eCoupon promotion and redemption, merchant payment collection, cross-border eCommerce, bill payment, miniapp development, and digital advertising. Its two anchors are RewardBuy, an eCoupon promotion-purchase-storage-redemption platform with 2,000+ active redemption points across Hong Kong F&B, retail and attraction merchants, and Incomedol, a merchant-facing mobile app for online payment collection, QR-code payment acceptance (including AlipayHK) and real-time transaction monitoring. Adjacent modules include Ad Solutions (1B+ monthly ad impressions, 3M+ verified audience), Miniapp Development (200+ merchants, 30+ shopping locations), Billing Solutions/COD Bill System (2.7M+ active bills across 10+ telecom merchants), a Cross-Border Platform supporting 600+ daily bus shifts, a Charity Platform with 150+ organizations, and OTA Solutions integrated with Hong Kong Disneyland, Ocean Park, Ngong Ping 360 and Sky100.

The group's monetization is diversified across transaction fees on eCoupon promotions and redemptions, advertising revenue, commissions from bill payment and insurance distribution, and professional services for miniapp builds. Go-to-market is hybrid: B2B direct enterprise sales to F&B chains, retail property managers, digital community owners and MNCs for staff benefits, combined with B2B2C distribution through eWallet integrations (AlipayHK in Hong Kong, TNGD/Touch 'n Go Digital in Malaysia) and channel partners in travel and insurance. COD GROUP operates across three jurisdictions through wholly-owned subsidiaries — COD Payment Limited (Hong Kong, headquarters in Kowloon Bay), COD Payment (Malaysia) SDN. BHD. and COD Technology PTE. LTD. (Singapore) — enabling HK–Malaysia–Singapore cross-border commerce. The company is privately held with no disclosed external funding rounds and operates with a lean headcount of approximately 26 employees.

Name

COD GROUP

Legal name

COD Payment Limited

Website

https://codgp.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

COD GROUP is a Hong Kong-headquartered digital commerce and payments company operating RewardBuy (eCoupon platform) and Incomedol (merchant payment app), serving F&B, retail, telecom, insurance, charity and OTA merchants across Hong Kong, Malaysia and Singapore.

Ownership category

akta.pro rank

Headquarters

HQ city

Kowloon Bay

HQ country

Hong Kong SAR China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. eCoupon Transaction Fees: Revenue from eCoupon promotion and redemption services on the RewardBuy platform, charging merchants for promotional placement and transaction processing
2. Ad Solutions: Advertising revenue from 1 billion+ monthly ad impressions and 3M+ verified active audience reach
3. Billing Solutions: Commission revenue from bill payment services covering telecom merchants and insurance product suppliers
4. Miniapp Development: Revenue from miniapp development services for merchants, with 200+ merchants onboarded across 30+ shopping locations

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

COD GROUP operates a multi-solution commerce technology platform centered on the RewardBuy eCoupon platform and Incomedol merchant payment app. It sells B2B eCoupon solutions, advertising inventory, miniapp development services, bill payment processing, cross-border eCommerce infrastructure, and OTA ticketing to merchants, multinational corporations, telecom companies, insurers, and charity organizations across Hong Kong, Malaysia, and Singapore.

Product overview

COD GROUP operates as a multi-solution commerce technology platform with a portfolio of interconnected products. The core platform consists of the Incomedol App (merchant transaction operations with payment collection) and RewardBuy (eCoupon eCommerce platform). These are supplemented by modular solutions including Ad Solutions (advertising), Miniapp Development, Billing Solutions (bill payment), B2B eCoupon Solution (enterprise voucher programs), Cross Border Platform (HK-China commerce), Charity Platform, COD Bill System, and OTA Solutions. The products work together to provide end-to-end commerce capabilities from payment processing and voucher management to advertising and cross-border logistics, with regional expansion through partnerships like TNGD in Malaysia.

Differentiator

Problem solved

Functional benefit

Brands

• RewardBuy: eCommerce platform providing eCoupon promotion, purchase, storage and redemption services with over 2000+ active redemption locations
• Incomedol App
• COD Bill System
• Cross Border Platform

Products and services

• RewardBuy eCommerce Platform eCoupon promotion, purchase, storage, and redemption platform serving B2C consumers and B2B business users across Hong Kong and Malaysia with 2,000+ active redemption locations.
• Incomedol App Mobile application that improves merchant transaction efficiency by providing online payment collection, QR code payment collection, and real-time transaction record viewing for merchants.
• Ad Solutions Advertising solution delivering 1 billion+ monthly ad impressions and a 3M+ verified active audience for brand marketing campaigns.
• Miniapp Development Service Mini application development service enabling merchants to onboard digital storefronts, with 200+ merchants and 30+ shopping locations coverage.
• Billing Solutions Bill payment service platform supporting millions of active bill subscriptions across 10+ telecom merchants.
• Cross Border Platform Cross-border commerce platform enabling 600+ active cross-border bus shifts per day for Hong Kong-China eCommerce and transportation logistics.
• Charity Platform Charitable giving platform supporting 150+ active charity organizations for donations and charitable transactions.
• B2B eCoupon Solution B2B eCoupon solution serving digital community owners, lead-generation industry merchants, and multinational corporations for staff benefits programs.
• COD Bill System Billing management system processing 2.7M+ active bills for telecom and utility payment services.
• OTA Solutions Online travel agency solutions including HK Disneyland, Ocean Park, Ngong Ping 360, and Sky100 integrations for attraction ticketing and voucher redemption.
• TNGD Ecosystem Integration Cross-border eCommerce solution integrating HK Vouchers and AI-powered e-voucher features into the TNG eWallet ecosystem in Malaysia through the TNGD partnership.

Quantifiable outcome

• 4M+ eWallet population reached with products and services
• +3 more outcomes

Named customers15 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and major.

• TNGD (Touch 'n Go Digital)coreStrategic or Co-development Partner · 1 January 2025Strategic partnership bringing COD's proven HK Voucher solutions to Malaysia through TNGD's eWallet ecosystem. The partnership introduced innovative features driving merchant growth and enhancing user experience in the Malaysian market.
• AlipayHKcoreTechnology or IntegrationIntegration enabling merchants to request payments from AlipayHK wallet users through COD's Incomedol App QR code functionality
• Hong Kong DisneylandmajorChannel Partner/ Reseller/ DistributorOTA solution partner for Hong Kong Disneyland ticket distribution through COD's Malaysia-Singapore-Hong Kong cross-border platform
• Ocean ParkmajorChannel Partner/ Reseller/ DistributorOTA solution partner for Ocean Park Hong Kong ticket distribution through COD's Malaysia-Singapore-Hong Kong cross-border platform
• Ngong Ping 360majorChannel Partner/ Reseller/ DistributorOTA solution partner for Ngong Ping 360 attraction ticket distribution through COD's cross-border platform
• Sky100majorChannel Partner/ Reseller/ DistributorOTA solution partner for Sky100 Hong Kong observation deck ticket distribution through COD's cross-border platform
• HongKongCardmajorStrategic or Co-development PartnerB2B partnership where HongKongCard members can earn cc points and redeem eCoupons from RewardBuy platform, integrated through various services on HongKongCard

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Klook: Asia-focused OTA and voucher/attraction booking platform covering Hong Kong, Malaysia, and Singapore. Comparable to COD's Cross Border Platform and OTA Solutions for HK Disneyland, Ocean Park, Ngong Ping 360, and Sky100 ticketing.
• AsiaPay: Asia-Pacific payment gateway and digital commerce services provider serving merchants across HK, MY, and SG. Comparable to COD's payment integration and merchant acquiring focus.
• KKday: Regional OTA and experience voucher marketplace with strong HK/MY/SG presence. Overlaps with COD's cross-border eCommerce and attraction ticketing offerings.

Peers

• Foodpanda: Regional food delivery and voucher marketplace across Southeast Asia including Malaysia and Singapore. Comparable to COD on the F&B merchant engagement and digital coupon mechanics within its merchant network.

Broad incumbents

• TNG Digital (Touch 'n Go eWallet): Malaysia's leading eWallet with embedded voucher and merchant engagement features. Both partner and competitor to COD in Malaysia — same TNGD ecosystem into which COD has integrated RewardBuy.
• Octopus Holdings: Dominant Hong Kong payment and stored-value platform with merchant acquiring and consumer reach. Comparable as a HK payments incumbent whose rails overlap with COD's QR payment and voucher infrastructure.
• AlipayHK: Hong Kong eWallet operated by Ant Group offering merchant payments, coupons, and miniapp capabilities. Core distribution partner for COD's Incomedol App and a benchmark for the kind of vertically integrated platform COD could face.

Emerging players

• PayMe (HSBC): Hong Kong P2P and merchant payments platform with growing voucher and merchant offers. Comparable to COD on consumer-side payments and merchant promotional mechanics in HK.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cod-gp

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about COD GROUP