Ready to digitize USD150Mworth of corporate expenses and gift card transactions in India
New Delhi, 10 September, 2018 – MatchMove, one of the world’s fastest growing and most disruptive fintech companies, announced today that it is powering YouChooz as its first program on RuPay. RuPay is India’s card payment network launched by the National Payments Corporation of India (NPCI). The network is widely accepted at ATMs, POS devices and e-commerce websites across India.
YouChooz is an integrated platform in India focusing on corporate segment representing more than USD150 million worth of corporate expenses and gift card transactions that are ready to be digitized.
Using MatchMove’s proprietary Banking Wallet OSTM, YouChooz is able to give its corporate and institutional clients its own co-branded prepaid cards and gift cards in both physical and virtual forms. YouChooz offers payment solutions like prepaid cards, gift cards, rewards and loyalty programs, meal cards, fuel cards, bill payments, mobile recharges and affiliate marketing solutions.
Prior to using MatchMove’s end-to-end solutions, YouChooz aggregated prepaid cards, gift and rewards cards from various sources to fulfill their clients’ needs. YouChooz had to rely on the product and technology offerings of other third party program managers and payment methods, yet it wanted more control and visibility of its end user transactions and data. This is only possible through the proven MatchMove platform.
“Prepaid card is one of our core businesses under RuPay portfolio. We are happy to be associated with one of the fastest growing fintech firms, MatchMove, and Federal Bank in their journey to digitize traditional gifting and corporate payments through RuPay. We look forward to launching more innovative products with them”, said a spokesperson from the National Payments Corporation of India.
Devendra Lohia, Business Head of YouChooz, said: “Filling the gap of cash-reliant corporates offers a huge potential for us and thus finding a trusted partner is key. We chose MatchMove as we needed products, services and thought leaders who have proven results in digital payment. We are confident that with this breakthrough in our corporate expense management and gift card solutions, we will be able to capture the corporate market and offer holistic solutions.”
Kumar Srinivasan, CEO of MatchMove India, said: “It gives us great pleasure to work with YouChooz to power their innovation. The successful delivery of YouChooz program demonstrates our capabilities in enabling every business, big or small, to pay and reward easily on a single platform. Our secure platform can be easily integrated to digitize cash and accelerate digital payment adoption.”