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- MoneyMatch is a Malaysia-based Fintech company that enables cross-border payments and remittances.
- The payment platform MoneyMatch partnered with Ripple to provide cheaper and quicker payments across 120 countries globally.
- Being a small start-up MoneyMatch was looking to develop a relationship with banks and payment providers globally but had a lack of credibility and transaction volumes.
MoneyMatch is a Malaysia-based Fintech company that enables cross-border payments and remittances. It supports small-medium enterprises (SMEs) in Malaysia to pay their suppliers worldwide. However, the charges taken by Malaysia’s traditional financial institutions were high FX rates on smaller volume transactions.
MoneyMatch will provide payments across 120 countries globally
As per the SMEs and individuals, these charges were found to be very high. In this scenario, the payment platform MoneyMatch partnered with Ripple to provide cheaper and quicker payments across 120 countries globally.
Adrian Yap, the MoneyMatch CEO and Co-founder stated that bank targets amass customers that transfer high volume transactions and afford higher fees. While SMEs have no other option apart from accepting the same rates offered by the banks.
Yap further explained that while partnering with Ripple we offer a prominent cross-border payment platform that provides the customers with competitive rates and faster transactions. During working in the treasury roles at some of the significant financial institutions of Malaysia, Yap discovered this major gap in the market.
MoneyMatch to develop a relationship with banks and payment providers
Yap continued that by offering low prices and easy way of cross-border payments will benefit the SME customers. Being a small start-up MoneyMatch was looking to develop a relationship with banks and payment providers globally but had a lack of credibility and transaction volumes.
By associating with RippleNet, fintech overcomes this issue by acquiring RippleNet’s fast and easy access to hundreds of partners worldwide. The partnership also supported MoneyMAtch to offer settlements on the same day.
The startup is ready to spread its leg in the global market to continue the usage of RippleNet to explore novel markets and serve benefits to its customers.
