MatchMove Pay emerged as the winner of FST Media’s Top Fintech Disruptors Showcase at the 6th annual ASEAN Technology & Innovation – the Future of Banking & Financial Services conference in Singapore.
MatchMove Pay emerged as the winner of FST Media’s Top Fintech Disruptors Showcase at the 6th annual ASEAN Technology & Innovation – the Future of Banking & Financial Services conference in Singapore.
Four of Asia’s brightest disruptors took to the stage to compete at Singapore’s largest banking and technology conference in front of distinguished guests and senior industry executives from financial services. The participants highlighted their unique selling points via an interactive on-stage demonstration, with the winner determined by live polling.
Winner: MatchMove Pay
Founder: Shailesh Naik, CEO of MatchMove Pay
The Pitch:
MatchMove Pay is Asia’s first eWallet which lets users shop online using virtual cards or “wallets”.
According to its Founder and CEO, Shailesh Naik, MatchMove Pay offers a full service platform now scaling across Asia, with a growing presence in Singapore, Vietnam, Indonesia, Thailand, India, Malaysia and Japan.
“Online shopping in Asia is booming, but there is a significant problem. Most people do not have a reliable way with which to pay [and] most economies in Asia depend on cash because ultimately there are not enough reliable cards in the market,” Naik said.
“What we have done is built a B2B platform for any brand, bank or telecommunications company.”
MatchMove Pay allows clients to tap into a mobile wallet solution that comes with a suite of APIs, allowing users to integrate important features into their own customised system, wearable device or mobile app seamlessly.
The cloud-based platform uses data analytics to provide mobile wallet and payment card solutions, allowing clients to drive location-based promotions and offers. According to Naik, the service works like “a credit card online”, together with a one-time pin and 3D security enhanced features.
“We provide the full stack of services: issuing licence, back-end settlement, KYC compliance, top-up channels and APIs,” Naik said.
“You can have prepaid debit, credit and peer-to-peer lending [capabilities] in one wallet with your brand. You own the data, you own the customer, you get revenue.”
What’s next:
MatchMove Pay are currently looking to expand their influence across key target markets in Europe, South Africa and Asia Pacific, including Australia.
Naik said there were significant opportunities across Asia for digital payments, with online shopping in Asia reaching more than $525.5 billion last year, according to research conducted by Visa and MatchMove.
“The situation is ripe for disruption. There is only 3 per cent of card penetration in Asia and it is driving more than $500 billion worth of purchasing. At the same time, mobile is here,” Naik said.
“You can either watch and wait while Paypal, Google Pay, Samsung Pay and even AliPay determine your destiny or you can have your own wallet right now with MatchMove Pay.”
