Ready to digitize USD150M worth of corporate expenses and gift card transactions in India
Singapore & New Delhi, 4 September 2018 - MatchMove, one of the world’s fastest growing and most disruptive fintech companies, announced today that it is powering YouChooz as its first program on RuPay. RuPay is India’s card payment network launched by the National Payments Corporation of India (NPCI). The network is widely accepted at ATMs, POS devices and e-commerce websites across India.
YouChooz is an integrated platform in India focusing on corporate segment representing more than USD150 million worth of corporate expenses and gift card transactions that are ready to be digitized.
Using MatchMove’s proprietary Banking Wallet OS, YouChooz is able to give its corporate and institutional clients its own co-branded prepaid cards and gift cards in both physical and virtual forms. YouChooz offers payment solutions like prepaid cards, gift cards, rewards and loyalty programs, meal cards, fuel cards, bill payments, mobile recharges and affiliate marketing solutions.
Prior to using MatchMove’s end-to-end solutions, YouChooz aggregated prepaid cards, gift and rewards cards from various sources to fulfill their clients’ needs. YouChooz had to rely on the product and technology offerings of other third party program managers and payment methods, yet it wanted more control and visibility of its end user transactions and data. This is only possible through the proven MatchMove platform.
“Prepaid card is one of our core businesses under RuPay portfolio. We are happy to be associated with one of the fastest growing fintech firms, MatchMove, and Federal Bank in their journey to digitize traditional gifting and corporate payments through RuPay. We look forward to launching more innovative products with them”, said a spokesperson from the National Payments Corporation of India.
Devendra Lohia, Business Head of YouChooz, said: “Filling the gap of cash-reliant corporates offers a huge potential for us and thus finding a trusted partner is key. We chose MatchMove as we needed products, services and thought leaders who have proven results in digital payment. We are confident that with this breakthrough in our corporate expense management and gift card solutions, we will be able to capture the corporate market and offer holistic solutions.”
Kumar Srinivasan, CEO of MatchMove India, said: “It gives us great pleasure to work with YouChooz to power their innovation. The successful delivery of YouChooz program demonstrates our capabilities in enabling every business, big or small, to pay and reward easily on a single platform. Our secure platform can be easily integrated to digitize cash and accelerate digital payment adoption.”
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 under-served 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.
For more information, please visit www.matchmove.com
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