11 July 2020
MatchMove and Marine Innovation to make payments at sea
Singapore, 11 July 2020 - MatchMove, one of the fastest growing FinTech companies in South East Asia, today announced its partnership with Marine Innovation, a Singapore based company offering best-in-class technology solutions to the global maritime industry.
As one of the world’s busiest port cities, Singapore is a major hub for marine focused service providers in South and East Asia. More than 50,000 seafarers are employed by the 150 ship-owning and ship management companies based here.
Through this partnership, Marine Innovation will be using MatchMove’s proven banking-as-a-service platform to provide ship managers with a full-featured solution for corporate payroll, expense management, cross border remittance, and to further digitize corporate payments for their vendors.
The solution is particularly suitable for seafarers who need to send money back to their families while they are away at sea. They can perform various transactions like sending money home instantly, do online purchases and much more, all without waiting to go on shore.
The MatchMove platform, with its secure bank-grade wallet and card will also provide seafarers with the flexibility to receive their wages and salaries safely and directly into their app and then transfer funds easily and at a lower cost. These users can withdraw funds at ATMs worldwide with a physical card, or make online payments for utility bills and e-commerce transactions using the app.
Speaking at the launch of the partnership, Shailesh Naik, Founder and Group CEO of MatchMove, added, "We are excited by this partnership with Marine Innovation as it provides yet another unique use case of our platform and will further enable the safe and easy movement of digital money, on land and now at sea also. This partnership also strengthens our commitment to the national goal of becoming a Smart Nation by taking the cashless economy well beyond our shores.”
Capt. Tarun Mathur, Managing Director of Marine Innovation adds "Marine Innovation promotes state-of-the-art technology solutions that enhance the safety and efficiency of Maritime operations. We consistently evaluate and bring to the industry technologies that would lead the industry to the next level. The partnership with MatchMove will enable us to focus on our core business, as well as extend the same to the financial aspects in the marine industry, as the MatchMove platform enables the movement of digital cash with ease and is extremely secure."
MatchMove recently launched MatchMove Lightspeed™, the next-generation mobile payments platform. MatchMove LightSpeed includes secure payments solutions across lending, corporate expense management, gift cards, remittance, money transfer businesses, and many more. MatchMove Lightspeed was launched in India last week and is expected to roll-out in Singapore, the Philippines and Vietnam in Q4 of 2019.
“MatchMove Lightspeed enables businesses to build their own customized app on-the-go. They can launch virtual cards instantly and branded physical cards within three business days, thus enabling a business to launch their fully-secured payments solutions faster and provide a great experience to their customers. Leading organizations like Marine Innovation will benefit immensely by integrating faster with their partners in this global industry, and so stay well ahead of competition,” said Kumar Srinivasan, CEO of MatchMove Dynamic.
About Marine Innovation
Marine Innovation aims to be a leading provider of Innovative technological solutions to the Maritime Industry through its wide range of products and services offerings to the shipping companies globally. They offer Navigation and communication solutions that aims to increase the efficiency of the shipping companies at different levels. Their business objective is to partner with the best manufacturers in the industry to offer their clients the most economical yet, efficient and state of the art solution to stay competitive in the global market.
