MATCHMOVE, Singapore’s fastest-growing fintech firm, has partnered with India’s payment platform The Mobile Wallet (TMW) in a move to expand throughout India and Southeast Asia.
MatchMove will be integrated into the TMW app, which will boost functionality and usability for customers, as well as allow businesses to accept payments digitally.
Shailesh Naik, CEO of MatchMove, said: “We are delighted to have TMW choose us as its preferred Wallet OS provider. This partnership will further reinforce our commitment in providing companies the best solutions.
“Our ease of integration, scalability, and security which our APIs have is a key advantage for companies such as TMW to take full advantage of,” he continued. “This partnership will further expand our footprints in the Indian market as we continue to expand as a company in the country.”
In India, TMW partners with alliance partners and major service providers – so users can pay for almost anything from mobile prepaid recharges, to gas and utility bills, to online shopping.
TMW’s founder and managing director Vinay Kalantri said in a statement: “Our decision to work with MatchMove is a strategic one. Not only does it enhance our app’s offerings, but also allow us to take that next step to becoming a leader in the digital payments segment in India and open new inroads to the SEA markets.”
The move comes as both businesses and customers struggle to adapt to the overnight sweep of 500 and 1000 rupee notes, which were abruptly withdrawn from circulation earlier this month.
The government’s decision to do so was designed to combat India’s “black economy”. However, what spells trouble for many has resulted in excitement among fintech companies, who believe the future is to go cashless.