SINGAPORE, Aug. 6, 2021 /PRNewswire/ — Enterprise Asia, the organiser of the prestigious fifteenth Asia Pacific Enterprise Awards (APEA) 2021 Regional Edition is pleased to recognise 59 exceptional award recipients who have exemplified excellence and perseverance in this unprecedented period. The APEA awardees have proven resiliency and accelerated tremendously to overcome the unprecedented economic conditions wrought by the global pandemic.
MatchMove Pay Pte Ltd was honoured for Fast Enterprise Award at the recently concluded Asia Pacific Enterprise Awards 2021 Regional Edition
The APEA, an initiative by Enterprise Asia, the region’s leading NGO, is the largest regional recognition and acknowledgement programme for trailblazers in the business community. APEA prides itself as a testament to the commitment, aspiration, and true entrepreneurship. With over 800 nominations received each year, and about seven percent were commended to the most deserving for recognition. This year, an impressive number of 130 finalists from 15 countries were up for consideration in the final round of judging and only 59 were crowned as award recipients.
MatchMove Pay Pte Ltd’s Journey to Success
MatchMove, founded in Singapore in 2009, began as a business-to- business online media and entertainment company offering feel- good entertainment content, including music, videos, and games, localised for APAC audiences, to global brands such as Yahoo! as well as regional media and telecommunication providers including Media Prima, Telkomsel, Starhub and Media Corp. MatchMove’s mission was to give everyone at least one minute of happiness each day.
During this phase of the business, MatchMove noted that a key challenge with serving customers across the region was a lack of easy to access and seamless to use digital payment options. At the time, less than 3% of the ASEAN population had a credit or debit card and were effectively excluded from the growing digital economy.
Pivoting to payments in 2014, MatchMove received a licence from the Monetary Authority of Singapore and in parallel developed an innovative and fully Payment Card Industry Data Security Standard (PCI-DSS) certified financial services platform – the MatchMove Bank Operating System (MMBOS) – with the mission of providing everyone everywhere the ability to Spend. Send. Lend.TM and improving their digital quality of life.
Recognising that the ability to Spend, Send, and Lend are the three major financial activities people need, the MatchMove Bank OS is purpose- built to support these products as a technology-driven, API-first financial services platform. With only a few lines of software code, any app can become a bank and offer white-label financial services, from basic banking accounts to international payments, from lending to payment cards. With this platform, MatchMove’s clients can easily build engaging customer experiences that incorporate seamless financial activities under their own brand. With MatchMove’s partnerships with Mastercard, Visa, and Rupay, branded payment cards are a click away.
This is a true win-win situation. Customers win with more choice and bespoke financial services through the brands and channels they already know and love. Enterprises win with frictionless and integrated customer experiences, as well as new streams of customer engagement and revenue.
To further empower these enterprises, MatchMove LightSpeed is an industry-first solution, exclusive to MatchMove, that enables an enterprise to build and launch an own-brand payment app in less than three minutes, with own-brand Mastercard, Visa, or Rupay cards in three days.
Since 2014, MatchMove has launched more than 60 white-label wallet and prepaid card programmes with clients, with an additional 50 programmes planned for launch in 2022. MatchMove has issued more than 3 million cards to end customers globally, performed more than 28 million transactions, executed more than US$ 1.5 billion in transaction value, and expanded into India, Indonesia, Thailand, the Philippines, and Vietnam.
MatchMove has seen clients develop completely new and innovative business models using the Bank OS platform, including teaching children financial literacy, corporate expense management, employee flexible benefits, salary accounts, subscription remittance services, transportation wallets, fuel cards, loan disbursement, collections, investment accounts, and more.
MatchMove has continued to innovate and to provide new services leveraging MatchMove’s expertise in technology-enabled domestic and international payments. These include launching new products such as BOSS Mobile Money, a remittance platform focusing on financial inclusion, DelytePay, an inclusive and simple to use mobile wallet and RemitSend, a business-focused remittance subscription service.
RemitSend exemplifies MatchMove’s commitment to speed and innovation. The product was envisioned during the start of the COVID-19 pandemic. With a fully remote team, it was designed, built, and launched in 100 days. MatchMove follows this same approach with all its major projects, whether they are new product launches, new market expansions, or new features for clients.
One of the greatest challenges that any fintech faces when expanding to new countries is compliance with all local and international regulations and laws. Working closely with licenced financial institutions and national regulators, the MatchMove Bank OS is certified and fully compliant in every market. This removes the compliance complexity for enterprises and enables almost instant market entry for any globally focused company.
Looking ahead, MatchMove is preparing to expand into China Hong Kong, Malaysia and China Taiwan in 2021, with Australia, China Mainland, Japan, New Zealand, South Korea, and others in APAC in 2022. MatchMove is also exploring more financial products, including insurance and investments, to provide a complete financial experience.
MatchMove views transparent, affordable, digital payment services and fair finance to be key to the economic growth of APAC and the regrowth of micro, small and medium-enterprises and employment opportunities worldwide. The MatchMove Bank OS is envisioned to be a key enabler in the future of inclusive and accessible financial services.
About Enterprise Asia
Enterprise Asia is a non-governmental organisation in pursuit of creating an Asia that is rich in entrepreneurship as an engine towards sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organisations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. For further information, visit www.enterpriseasia.org.
About Asia Pacific Enterprise Awards
Launched in 2007, the Asia Pacific Enterprise Awards is the region’s most prestigious awards for outstanding entrepreneurship, continuous innovation and sustainable leadership. The Award provides a platform for companies and governments to recognise entrepreneurial excellence, hence spurring greater innovation, fair business practices and growth in entrepreneurship. As a regional award, it groups together leading entrepreneurs as a powerful voice for entrepreneurship and serves as a by-invitation only networking powerhouse. The program has grown to encompass 14 countries and markets all over Asia. For more information, visit: www.apea.asia
Media Contact
Ms Nerissa Ng
Enterprise Asia
(60) 3 7803 0312
n.ng@enterpriseasia.org