Letting anyone Spend, Send and Lend Seamlessly with MatchMove

MatchMove Pay is Singapore’s fastest growing technology company, and one of the world’s fastest growing – and most disruptive – fintech companies. On the back of their recognition in the 2019 APAC Excellence Awards, where MatchMove was named ‘Singapore’s Most Outstanding Fintech Firm’, we spoke with CEO and Founder Mr Shailesh Naik to find out more.

Fintech has become the dominant disruptor in the financial and banking industries, adapting to the ever-changing needs of emerging consumer markets at a pace that traditional brick and mortar establishments struggle to service. Further, it would perhaps be an understatement to say that technological development has heralded in a new age of digitalisation, as more and more banking services are turning to paperless processes.

With these two distinct but related core constituencies in mind, – large, connected populations in need of mobile banking services but don’t want to or cannot go to a traditional bank and leading organisations wanting to digitalise their entire customer experience but don’t want to develop their own technologies – MatchMove has developed a proprietary Banking Wallet OSTM that enables ‘Banking As A Service’ to be inserted easily inside any app on any phone. As Mr Naik explained in more detail. “The platform empowers businesses and brands, in the private and public sectors to enable their customers to ‘Spend’ both online and offline easily and safely, via instantly issued prepaid cards on major card networks. Our ‘Send’ capabilities include P2P domestic transfers, crossborder remittances, P2M and mass disbursements to global recipients. The MatchMove platform further extends to ‘Lend’, where credit scores are assigned based on customers’ spending and sending patterns to offer customised lending solutions.” This way, consumers never have to go to a bank branch, their favourite brands can bring the bank to them, inside the phone, instantly.

As one of the world’s leading fintech firms, MatchMove has partnered with some of the largest companies in the financial and mobile landscape to ensure that their customers receive best in class services. “Currently, more than 60 organisations from different segments, including micro-lending, e-commerce, shipping, airline, transportation, chat, logistics and even other wallets and banks in Asia are partnering with MatchMove to rapidly digitalise payments, remittances and loan disbursements as well as other value add services ranging from e-gifting to loyalty management.” There’s certainly a growing market for MatchMove’s product, as consumers start to realise that online infrastructure
can streamline their payment behaviour. “There can be no doubt that digital transformation is seeping into every industry, with businesses eager to understand their users’ transaction patterns to better serve them over time, and to anticipate their needs in advance.”

This high growth model forms the backbone of the company strategy as it looks towards growth and expansion over the rest of the year and beyond. “We started looking abroad early in our journey, identifying new geographies where there is a huge demand for prepaid payment solutions due to a large unbanked population, but with high internet and smartphone penetration rates. As a result, we set up our first overseas office in India, quickly followed by The Philippines, Vietnam and Indonesia. We focus on addressing the pain points of strategic verticals with highgrowth impact such as retail, e-commerce, logistics, peerto-peer lending and gaming. This remains the fundamental plan for the future, even as we concurrently explore growth opportunities inorganically.”

In 2018, the company reported a doubling of new customers signing up multi-year contracts to use the platform while it also reported triple digit percentage growth on transaction volumes based on 2017 contracts signed. A similar growth trajectory is expected in 2019.

Company: MatchMove Pay
Contact: [email protected]
Address: 137 Telok Ayer Street #03-03 Singapore 068602
Website: www.matchmove.com