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18 December 2018

Frost & Sullivan calls MatchMove Pay a rising star in the mobile payments industry

Recognises MatchMove with 2018 Singapore Mobile Wallet Platform Growth Excellence Leadership Award.

Singapore, 6 December 2018 – MatchMove, one of the world’s fastest growing and leading fintech companies, is pleased to announce that it has been conferred the 2018 Singapore Mobile Wallet Platform Growth Excellence Leadership Award at Frost & Sullivan’s Asia Pacific Best Practices Awards. The awards honour the best-in-class companies that have demonstrated excellence in their respective industries. After conducting in-depth interviews, analysis and extensive research by analysts at Frost & Sullivan, a leading international consultancy and research firm, the report concluded that “MatchMove has proven itself to be a rising star in the mobile payments industry, through its flagship offering e-wallets that provide ‘Spend, Send, LendTM’ capabilities to its clients”.

Frost & Sullivan’s report highlighted how MatchMove delivers top notch customer impact and growth performance during the year, particularly in the following areas:

Price and Performance Value

MatchMove’s proprietary Banking Wallet OS has the capabilities of inserting Spend, Send, Lend thin any app to help companies embrace digital transformation. While most clients look to include these three capabilities in their mobile apps, other providers tend to specialize in a single functionality. MatchMove’s unique model sets itself apart as a one-stop solution that results in a smoother user interface, lower cost and quicker launch, as clients do not have to deal with multiple providers and face complications and delays in their implementation. These services and advantages provide MatchMove with the best price-to-performance value among its competitors.

Customer Ownership Experience

MatchMove also provides clients with value-added services such as the advantage of data collection. When enterprises are able to collect user data, products and promotions can be more targeted and customized to end consumers, resulting in advantages such as better conversion rates, more loyal members, and a much stronger brand.

Growth Sustainability

MatchMove has identified a massive unbanked and uncarded population in the developing nations that represents vast greenfield opportunities for its growth. In the developed markets, its solutions are gaining popularity with users who prefer prepaid solutions over banking services due to security reasons.

In Singapore, the government’s efforts to grow the local fintech scene have opened up Singapore’s Fast and Secure Transfers (FAST) infrastructure, an electronic funds transfer service that usage was exclusively for banks, to non-bank financial institutions. MatchMove is one of the companies that will gain direct access to FAST network, thereby removing the additional layer of banks and the extra costs required for banks to perform the fund transfers.

These have created sustainable growth opportunities for MatchMove.

The report also attributes MatchMove’s success to its delivery of brand equity, quick-to-launch mobile payment solutions that are scalable for varying industries and verticals, as well as its partnerships with the leading names and its growth diversification across Asia.

Speaking at the awards ceremony, Mr Nitin Palande, SVP, Global Business Operations, MatchMove, said, “To be an industry leader in growth is never an easy task. It is one that is made even more difficult considering today’s competitive intensity, customer volatility and economic uncertainty, not to mention the difficulty of innovating in an environment of escalating challenges to intellectual property. We thank all our clients, partners, employees and investors who have given us their support and trust over the years, so much so that MatchMove can be a proud recipient of this award from Frost & Sullivan.”

Shailesh Naik, Founder & CEO of MatchMove, said, “We are honoured to be one of Asia’s top companies recognised at the 2018 Frost & Sullivan Asia Pacific Best Practices Awards. Being named as the winner in the mobile payments industry is not just a testament of our efforts; it is an impetus to spur us further in becoming the leader of digital money mover and bring the whole world into the financial fold.”

About MatchMove

MatchMove is one of the world’s fastest growing and most disruptive fintech companies in digital payments and next-generation banking.

MatchMove’s proprietary Banking Wallet OS enables ‘Banking As A Service’ and the capabilities of Spend, Send, Lend within any app. The platform empowers B2B businesses and their customers to Spend both online and offline easily and safely, via instantly issued prepaid cards on major card networks. Its Send capabilities include P2P domestic transfers, cross-border remittances, P2M and mass disbursements to global recipients. MatchMove platform further extends to Lend, where credit scores are assigned based on customers’ spending and sending patterns to offer customized lending solutions.

Envisioning a financially inclusive world as it wages war on cash, MatchMove’s solutions help enterprise clients digitize payments and give the financially underserved segments the empowerment to move their money anytime and anywhere.

MatchMove is licensed by the Monetary Authority of Singapore and authorized by leading card networks to issue virtual and physical cards directly to users in approved jurisdictions, or anywhere else in the world with partner banks.

The company has been recognized with international awards for being a promising and an innovative organization, as well as for being a preferred employer.

MatchMove is headquartered in Singapore with offices in India, Indonesia, Vietnam, Philippines, and the USA.

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Alicia Neo