MatchMove wins Innotribe Challenge's London showcase

[SINGAPORE] Homegrown e-payment startup MatchMove has emerged a winner at the London showcase of the 2014 Swift Innotribe Startup Challenge, a platform that seeks to connect the finance industry to the financial technology (fin-tech) start-up ecosystem.

MatchMove Wallet, which CEO and co-founder Shailesh Naik presented at the May 1 showcase, is a mobile virtual credit card targeted at the over 500 million "uncarded" smartphone users in emerging countries, where credit card penetration can be as low as 2 per cent, according to Mr Naik.

"Winning in Europe has given us credibility and an enormous boost of confidence. As new entrants to fin-tech, we now have validation from a recognised, high-visibility innovation discovery programme like Innotribe," Mr Naik told The Business Times yesterday in an interview.