[27TH JUNE 2022, SINGAPORE] – Moolahgo, a leading Asian Fintech, and Checkout.com, global payments provider have partnered to offer payment to Visa accounts in a move that would allow Moolahgo users to make convenient and fast cross-border money transfers to over 3 Billion Visa cards globally.
Moolahgo has created a versatile eWallet App with numerous payment features including its leading cross-border payment service that’s used by thousands of users. In 2021, Moolahgo became the market leader by launching a fuss-free and instant funds transfer service to Indonesia eWallets with just the use of a phone number.
Today, Moolahgo launched a new payment service which it calls “Pay Now to Card” in its eWallet App to allow one to easily send money directly to a Credit or Debit Visa cardholder as long as the feature is supported by the card issuer. Traditionally only made available by banks, Moolahgo is the first Fintech in Singapore to offer a payment to card service in a digital wallet.
What sets Moolahgo’s payment to card service different is the option for cardholders to provide their card information confidentially in the app instead of disclosing sensitive card details to the paying party. Card information entered by the cardholders will be encrypted and stored by its partner Checkout.com which itself is a Level 1 PCI DSS certified payment provider. The Paying party will only be able to see partial masked information of the card, thereby preventing any potential misuse of cards.
Globally, Visa payment transactions volume amounted to over US$13 Trillion in 2021. By adding this service into its eWallet App, Moolahgo is poised to tap into one of the world’s largest card payments market with more than 200 Billion transactions per year across 200+ countries.
“Adding this Payment to Card feature is a natural evolution of our eWallet App which is already a leading remittance app in Singapore and is another step towards turning the Moolahgo eWallet into a payments super-app,” said John Hakim, Founder and CEO of Moolahgo.
“We are excited to partner with Moolahgo, a like-minded trailblazer in digital payments solutions, to launch this service to Moolahgo users. Admist an increase in online fraud, consumers are increasingly wary of disclosing sensitive card information. Moolahgo’s ‘Pay Now to Card’ solution incorporates the safety of consumers which would encourage the wider adoption of money transfers via the Visa Direct network,” said Ashley Paulus, Senior Global Director of Customer Success at Checkout.com.
About Moolahgo Pte Ltd
Moolahgo is a leading multi-currency digital payments specialist headquartered in Singapore. Founded in 2017, Moolahgo has grown from servicing businesses across diverse segments with competitive FX and cross-border payment services to providing innovative digital payment tools in an eWallet mobile app for consumers. As a Fintech, it aims to transform the payments landscape across Asia, bringing the benefits of real-time money flows to the under/un-banked and enriching lives across the region. Moolahgo is a Major Payment Institution licensed by the Monetary Authority of Singapore across multiple areas of payment services.
