Matchmove Strengthens Fintech Play in Indonesia with MCAS and KRENby Fintech News Singapore November 21, 2017
MatchMove Pay (MMP) announced today, the formalization of its partnership in an official agreement with PT Kresna Graha Investama Tbk (KREN) and PT M Cash Integrasi Tbk (MCAS) in Indonesia. KREN and MCAS will each own 14.81% of the MMP Indonesian business through PT MatchMove Indonesia (MMI), its subsidiary.
The partnership will enrich the MMP digital cash platform through KREN’s and MCAS’ reach and capability in the Indonesian digital economy. MMP intends to leverage MCAS digital distribution networks across the nation and KREN leadership in Indonesia digital ecosystems, to supplement its existing offerings and establish market leadership in Indonesian digital payments.
MatchMove Pay CEO Shailesh Naik commented
“We are thrilled with the synergies and limitless opportunities that this partnership brings. We are ready to deliver international open loop capabilities into the Indonesian digital wallet space, along with card issuance and e-KYC (electronic Know-Your-Customer) capabilities to MCAS digital kiosks. This will bring us one step closer in our mission to provide financial services to Indonesia’s unbanked population.”
Commenting on the alliance Suryady Jahja, Managing Director of KREN also added that as a digital business integrator Matchmove Indonesia will be able to leverage on its digital infrastructure and ecosystems, including 9.0 million users currently linked into the system, to expedite its penetration into Indonesia.
Echoing his views, Martin Suharlie, President Director, MCAS pointed the positive synergies that can be yielded through this collaboration stating that they will be able to tap directly potential customers from Matchmove Indonesia.