Aadhaarshila, a digital payment solutions provider in India, announced 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 AmeyaSood, 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.
