Aadhaarshila Partners With MatchMove to focus on unbanked and uncarded in India
India, June 1, 2017 – Aadhaarshila, a digital payment solutions provider in India, announced today that they have partnered with MatchMove, Singapore’s leading financial technology firm, to offer prepaid cards to their rapidly growing user base. The tie-up with MatchMove is part of Aadhaarshila’s vision to help the South Asian nation move towards a cashless society.
Aadhaarshila provides instant payment solutions that are delivered through a web browser or a mobile app through its vast agent network under the retail brand BankIT. BankIT agents are present predominantly in the northern and western states of India and they are expanding in other regions as well. Aadhaarshila’s prepaid card does not require any customer bank details and can perform any type of transaction, from a payment gateway to a point of sale (POS) and even cash withdrawals at Automated Teller Machines (ATMs).
The MatchMove Wallet OS™ enables any company to easily offer customers a fully branded, secure mobile wallet solution that includes peer-to-peer transfer, remittance, top-up channels, virtual or physical payment cards, loyalty points and rewards, promotions and offers.
“Our tie-up with MatchMove will enable us to offer a safe and efficient prepaid card that will address the problems of those who may not have a bank account or who are unable to go to the branch to do banking-related transactions,” said Ameya Sood, Chief Catalyst of Aadhaarshila. “We wish to provide an easy cashless solution to the Indian population, from the migrant laborer to the corporate employee, as part of our contribution towards the Digital India initiative.”
The Digital India program was launched by Prime Minister Narendra Modi in 2015 to connect rural areas with high-speed Internet networks and improve digital literacy. There are 233 million Indian citizens who don’t have a bank account, according to a PricewaterhouseCoopers report.
“Aadhaarshila is an exciting company whose goals align with ours. MatchMove has been at the forefront of promoting a cashless society with our technology and this partnership with Aadhaarshila will further strengthen our presence in India,” said Shailesh Naik, MatchMove Chief Executive Officer.
Aadhaarshila is a One-Stop-Outlet for instant and hassle free service delivery for recharges, bill payments, travel and stay bookings and domestic money remittance. Aadhaarshila is also a provider of payment solutions that are simple and secure, and are delivered via desktop systems, laptops, smartphones or tablets. The company also hosts a number of ‘Government to Consumer’ services such as Aadhaar Enrollments & Web-based Aadhaar services, which enables the government to reach and serve its citizens better. Started in 2014, company is based in New Delhi, India.
About MatchMove Pay
MatchMove enables companies to offer a fully branded secure mobile wallet solution, increasing revenue and user engagement. A member of the Mastercard network, MatchMove proprietary Wallet OS™ is built with the vision of strengthening financial inclusion through enabling its Spend, Send, Lend™ capabilities across developed and developing markets. The MatchMove Wallet OS™ includes services such as Payment Cards, Cross-Border Money Transfers, and Credit Scoring. MatchMove has been recognized internationally with awards including Singapore’s fastest growing technology company 2013 in the Deloitte Technology Fast 500 Asia Pacific, “Top Global Innovator 2014” in the Global FinTech Competition, and Most Promising Solutions Provider 2016 – Banking and Software by APAC CIO Outlook
MatchMove is headquartered in Singapore with offices in Vietnam, Indonesia, Thailand, India, Philippines, and the USA, and opening new offices in South Africa and Dubai to support its global growth.
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