KREN and MCAS announce their new investment plan on PT MatchMove Indonesia
Indonesia, November 03, 2017 – PT Kresna Graha Investama Tbk (KREN) and PT M Cash Integrasi Tbk (MCAS) announce that they have signed a Memorandum of Understanding (MoU) for their investment in PT MatchMove Indonesia (MMI) with an ownership stake of 14.81% each. PT MatchMove Indonesia (MMI) enables companies to offer a ‘fully-branded secure mobile wallet solution’ in Indonesia, promising to expand revenue and assure user engagement. MatchMove proprietary Wallet OS™ has been built with a vision of strengthening financial inclusion, through enabling its ‘Spend, Send, Lend™’ capabilities: these include P2P transfers, Cross-Border Money Transfers, Top Up channels, Virtual Payment Cards, Loyalty Points & Rewards and Promotions & Offers, amongst many other features. MMI is a subsidiary of MatchMove Pay Pte. Ltd, headquartered in Singapore, with offices in Vietnam, Thailand, India, Philippines and the United States. This investment is perceived as a strategic move for both KREN and MCAS to fully complete their digital ecosystem, particularly in growing the use cases, strengthen payment infrastructure, expanding digital distribution and exponentially growing their user base. KREN and MCash are currently awaiting MMI approval for this plan from the Indonesia Investment Coordinating Board (BKPM) and other pertinent institutions.