What is the benefit to e-wallets versus cash?
There’s a cost to store cash. There’s a cost to transport cash. Cash is subject to pilferage, leakage, and then cash leads to crime. Now if you’re able to eliminate cash, just imagine the benefits it could bring to people… What if instead of [cash loans in developing countries] you could pass that loan straight onto a card and then that person is free to use that card anywhere?… You’re bringing this person into the financial fold straight away.
Who is MatchMove’s target audience?
Let me give you an example. Our model is B2B. We don’t have a consumer brand. There are many, many airlines in this world… All of these airlines have something in common: They’re either flying an AirBus or a Boeing. Now think of MatchMove as the Airbus or the Boeing… I’m not the wallet. I’m providing the technology for other companies to go and power their [branded] wallets—or rather I’m powering the wallets of other companies.
What sets MatchMove’s product apart from other e-wallets?
I don’t know of any other [platform that] is doing [our trademarked service] “Spend, Send, Lend” all within one app… People want to be able spend their money… People want to be able to send their money [to businesses or individuals]… Then, based on your spending and sending patterns, what we’ve done is we’re building a corridor where, based on your spending patterns, you’re allocated a credit score. So, instead of you chasing loans, loans chase you.
Why did you choose to expand to Myanmar and Cambodia?
There are a couple of triggers that we look at before we enter into any market. Number one, I would say, is high millennial population. Number two, we look at the growth of alternate penetration in those markets. Number three, we look at the propensity of people in that country to move from feature phones to smartphones. Number four and, most important[ly], we look at what the government is doing in terms of digitising payments [economy-wide]… If those triggers sort of fall together, that’s when we decide to enter the country.