Maxi-Money, Singapore’s first SGX-listed pawnbroker, has chosen MatchMove’s Embedded Banking platform to energy the launch of its personal branded cell software, MaxiPAY for shoppers.
MaxiPAY is a private cell e-wallet that comes with digital pockets account (enabled with MatchMove’s ‘MoveFast’ resolution), pay as you go MatchMove-enabled Mastercard-branded digital and bodily card. It additionally permits shoppers’ remittances to enhance end-to-end engagement with their neighborhood, particularly international employees.
As per the newest Singstat information, migrant employees in Singapore comprise 23 per cent of the whole workforce making them one of many important contributing segments to financial development. The pandemic has accelerated digital adoption by a number of years and but as of 2020, some 50,000 migrant employees didn’t actually have a primary checking account. Fostering a digitally inclusive society, this partnership goals to teach and supply a greater and sooner digital banking expertise to the under-served segments – like migrant employees – who’re struggling to entry higher monetary and banking companies.
Utilizing MatchMove’s product options, Maxi-Money customers can now top-up and switch out cash in real-time, spend through their pay as you go digital playing cards, and carry out prompt home FAST transfers in addition to cheaper worldwide remittances. That is made potential through safe digital accounts which may be linked to a buyer’s checking account for immediate pockets top-ups and switch out.
Marketed advantages of MaxiPAY:
- Straightforward and real-time remittance
- Cashless in-store cost
- On-line procuring
- Digital and bodily Mastercard©
- Quick and simple top-up
- Abroad money withdrawal
- Protected and safe cost
- Accepted worldwide
“As an revolutionary chief within the pawnbroking business, Maxi-Money aspire to offer entry to larger demographics by leveraging on fintech suppliers like MatchMove, which allow us to supply neobanking. Offering comfort and assembly short-term monetary wants of our prospects have been core to the expansion of Maxi-Money. With the addition of MaxiPAY to our enterprise, we’re capable of supply extra comfort to the shoppers, by accessing a digital banking-like expertise at their fingertips. The MatchMove crew has proven nice assist in launching MaxiPAY and has additionally helped educate our prospects in how greatest to leverage the app.” stated Ng Kean Seen, CEO of Maxi-Money.
“MatchMove is deeply dedicated to advancing monetary inclusion throughout the area, for people and companies, and we’re excited to associate with Maxi-Money in taking this imaginative and prescient ahead. With our Lightspeed know-how resolution, Maxi-Money has launched MaxiPAY, its personal branded app to offer best-in-class digital monetary companies to the under-served segments of society, like migrant employees. We’re assured that this resolution will remedy the challenges confronted by these shoppers with low cost and handy cash transfers in addition to accessing different digital cost companies.” stated MatchMove’s chief industrial fficer, Amar Abrol.