Singapore, 12 November 2020 - Singapore-based enterprise subscription management platform, Subtra has partnered with Banking-as-a-Service provider MatchMove, to power its innovative enterprise subscription management platform.
Subtra offers an intuitive single-window experience that enables companies to purchase and manage their SaaS, PaaS, and IaaS stacks. The platform helps centralize management for various types of tools and online services such as Zoom, Slack, Amazon Web Services, G-Suite, etc. The word Subtra is derived from 'subscription transformation,' and the platform provides complete visibility and control of your subscription spend.
With MatchMove's payment solutions, Subtra's corporate customers can now manage their annual or monthly subscriptions and even make one-time purchases. This is made possible via secure virtual accounts, which can be linked to a company's corporate bank account for wallet top-ups. Companies can then instantly issue virtual cards to pay for various subscriptions.
Leveraging on MatchMove LightSpeed™, Subtra enables its customers to make payments in dual currencies. In addition to Singaporean dollars, Subtra is also offering pre-paid US dollar cards, making it the only company in Singapore to provide this service. With most subscriptions being charged in US dollars, paying with a regular credit card can incur up to 3.5% additional charges per transaction. However, companies using Subtra can benefit from paying only for their subscription bill and nothing more.
Additionally, Subtra lets users add fixed or flexible limits for each subscription payment, preventing the use of an assigned card for other vendors. The platform also offers team management, real-time notifications and accounting integrations for automated reconciliation, thus significantly reducing administration time and internal costs. Subtra's platform is backed by an AI-based dashboard capable of identifying duplicate subscriptions, zombie users, and spend leakages. These features can help companies reduce their total SaaS spend by up to 30%.
"After careful evaluation of the available solutions in this market, we are happy to announce that MatchMove's services are unique in their ability to help ease the adoption of our platform. We admire the MatchMove team's drive to innovate, and we believe that they are the perfect payment solutions partner for Subtra. LightSpeed™ enabled rapid integration with our subscription management platform, allowing our customers to make secure, hassle-free, and seamless payments," said Subtra's Founder & CEO, Apoorva Ruparel. "We are currently the only company in Southeast Asia, offering this service using MatchMove's proprietary digital BaaS solution. We look forward to expanding the scope of this partnership as we continue to scale," he added.
"We are excited about this partnership and we are confident that with this unique offering, companies will be able to benefit from safe, secure and convenient financial transactions for their subscription spend. The use case has been solved with impeccable simplicity and Subtra’s customers are bound to enjoy guaranteed savings on their subscription spends." said MatchMove Chief Commercial Officer Amar Abrol.
For more information relating to the services, please visit our website at www.matchmove.com.
Subtra is a Singapore-based fintech company with a mission to transform the enterprise subscription industry. Subtra offers an innovative subscription management platform that allows companies to purchase, manage, and optimize their SaaS stack from a single window. The company believes in creating tangible value for both enterprise subscription providers and consumers. Subtra combines deep technological expertise with an understanding of business financials to continually push the boundaries of centralized subscription management. Subtra is a Singapore Fintech Association (SFA) certified company with offices in Singapore, Australia and India. For more information, visit www.subtra.com. To sign up on Subtra, please visit app.subtra.com/register.
MatchMove is one of the world's fastest growing and most disruptive fintech companies in digital payments and next-generation banking. The company's proprietary Banking OS™ enables 'Banking-as-a-Service' and the capabilities of Spend.Send.Lend™ within any app. 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 is headquartered in Singapore with offices in India, Indonesia, Vietnam and the Philippines.
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