Bonfleet selects MatchMove to disrupt cash payments at petrol pumps in India
Singapore and Pune(India), 4 May, 2017 – Bonfleet, a rapidly growing startup in India has partnered with MatchMove to disrupt the USD$145million cash exchanged daily at petrol pumps in India. Leveraging on MatchMove’s award-winning Wallet OS, Bonfleet will offer an app and a physical card named ‘Bon Petro Card’ allowing drivers to swipe to pay for fuel, tolls, and other fleet expenses across India.
Bhasker Code, CEO, Bonfleet commented, “In the midst of driving the demonetization initiative – we believe that this ‘Bon Petro Card’ will provide an auditable and cashless option for a rising workforce which will impact petrol pumps and merchants across the country.”
Bonfleet aims to replace petty cash and tackle pilferage by offering to its customers powerful dashboards and auditable analytics of all expenses. Bonfleet customers include taxi owners, hotels/delivery chains, large car fleets, and logistics companies.
Gaurav Mittal, Regional Director of South Asia, MatchMove said, “We are extremely excited to partner with an ambitious and prospective company such as Bonfleet and to be a part of their ambition to revolutionalise cashless transactions at fuelling locations across India. Combining their drive and ambition to disrupt cash transactions and MatchMove’s proven payment platform capability, we believe Bonfleet will quickly reach their business goals while making a huge change in this industry.”
About MatchMove Pay
MatchMove Pay is a financial technology company that provides innovative, end-to-end enterprise payment solutions to help startups and large enterprises increase revenue and boost user engagement through its patented technologies. Our proprietary cloud-based MatchMove Wallet OS™ enables any company to easily offer their customers a fully branded, secure mobile wallet solution that includes P2P transfer, Remittance, Top Up channels, Virtual Payment Cards, Loyalty Points & Rewards, Promotions & Offers amongst many other features.
MatchMove has consistently been recognised internationally for its outstanding innovation. In 2013, MatchMove was ranked as Singapore’s fastest growing technology company in Southeast Asia in the Deloitte Technology Fast 500 Asia Pacific. In 2014, MatchMove emerged as the “Top Global Innovator” in the Global fintech competition, the SWIFT Innotribe Innovator Challenge in Boston. In 2016, MatchMove was recognised as Most Promising Solution Provider – Banking and Software by APAC CIO Outlook and Most Innovative Financial Technology Provider in Singapore by Global Business Awards.
MatchMove Pay is headquartered in Singapore with offices in Vietnam, Indonesia, Thailand, India and The Philippines. In 2017, MatchMove will open new offices in South Africa and Miami to support its global growth.
Bonfleet provides a cashless fleet expense management app with pre-paid cards that drivers can use at any petrol pump & service station in India. Using the Bon Petro Card – fleet managers can get auditable expense reports on every vehicle & driver as well as have one common loyalty point system across all petrol pumps in India. Bonfleet customers include taxi owners, hotels/delivery chains, large car fleets, and logistics companies. Benefits for fleet managers include transactions being restricted to fleet expenses, route based restrictions, consolidated billing, flexible payment options, and software to improve accounting & fleet management. Bonfleet was founded in May 2016 by Bhasker Kode and Kauserali Hafizji, and is headquartered in Pune with operations across India.
For more media enquiries, please contact
General Manager- India, REDHILL Asia
Marketing Executive, Bonfleet Solutions Pvt. Ltd