Paul Fincap of the Paul Group Partners with MatchMove To Offer A Full-Featured Mobile Wallet To Its Customers
Singapore, Chandigarh (India) 7 March 2017 – Paul Fincap Private Limited, the flagship company from the “Paul Group of Companies”, a conglomerate having interests in varied fields including International Money Transfer, FOREX, Tours & Travels, Prepaid Instruments, Domestic Money Transfer, Gold Loans and the Entertainment Industry announced today that they have partnered with Singapore-based finance technology firm MatchMove to launch a full-featured mobile wallet to its customers.
Paul Fincap’s mobile wallet, called Kuber, was developed specifically for the retail remittance market, and comes with a virtual and physical Mastercard that can be used for online and in-store transactions on the widely accepted Mastercard network. Additional innovative features include instant country-wide P2P funds transfer, inward remittances from overseas, special offers and loyalty services. Paul Merchants Ltd handles more than US$3BN a year in inbound remittances and, in keeping with India’s drive to a cashless society, will now start offering its customers digital cash in the Kuber wallet instead of physical notes. Customers can use the virtual and companion physical card to make purchases online or offline, and can also withdraw cash, if required, from ATMs and from more than 20 000 physical locations in the Paul Merchants network of agents.
“The vision of Paul Fincap Private Limited is to be a market leader in providing total services under one roof. We are delighted to have Paul Fincap Private Limited to choose us as its preferred Wallet OS provider. This partnership will further reinforce our commitment to advancing the digital economy in India. Our ease of integration, scalability and security features of our APIs are the key features for companies such as Paul Fincap to use to their advantage. They have launched a product that is better in every way when compared to some of the other branded wallets in India, so we are confident this product will be a huge success”, says Shailesh Naik, CEO, MatchMove.
Commenting on this strategic tie-up, the Mr.Rajneesh Bansal, Director, Paul Fincap said, “Our mission is to focus on achieving complete customer satisfaction by offering a range of services of highest quality and by reaching out to our customers closest to their doorstep. We achieve this by spreading the network of locations across the geography of the country, and with such tie-ups. This is our first contribution towards the digital movement of the country and we are certain that our customers will immensely benefit from this partnership.”
“The mobile payment industry in India is growing rapidly and is largely driven by the Government’s Digital India Initiative. It is a privilege to know that our Wallet OS helps Paul Fincap Private Limited to empower cashless payments that are in line with the nation’s mission in making India a cashless society and economy”, says Gitesh Athavale, SVP & General Manager, MatchMove.
About MatchMove PayMatchMove 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 early 2017, MatchMove will open new offices in South Africa and Miami to support its global growth.
About Paul MerchantsPaul Merchants Ltd is a public limited company with its scrips listed at BSE. The company holds licenses issued by Reserve Bank of India to act as an Authorized Dealer Category II and as Principal Agent of Western Union for providing inbound International Money Transfer services. Today the company is the largest principle agent for Western Union in entire APAC. For its quality systems and processes, the Company has been certified as an ISO 9001:2008 Company, with the certification awarded by TUV Rhineland. The company’s business interests holds in Western Union Money Transfer, Foreign Exchange, Tours and Travels, Gold Loan Business, Satellite Channels, Domestic Money Transfer and International Calling Card.Besides, the company is soon to tap the competitive mobile wallet market with it’s new upcoming venture. The company, under the leadership of its Founders and Promoters – Shri. Sat Paul Bansal (Chairman & Managing Director), Shri. Sandeep Bansal (Director) & Shri. Rajneesh Bansal (Executive Director) is steadfast on the path of growth with equal focus on compliance with law of land, ethical business model and zeal to play its part towards the society. Headquartered in Chandigarh, the company has a network of own offices, banks, NBFC, PSUs and retail partners of over 20,000 across the country.
Linkedin: Paul Merchant
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