NTT Docomo Ventures invests in Matchmove Pay

Via NTT Group

May 14, 2019

NTT DOCOMO Ventures, Inc. (headquartered in Minato-ku, Tokyo, Japan; President and CEO, Takayuki Inagawa, hereinafter called “NTT DOCOMO Ventures”) has invested, through NTT Group’s fund managed by NTT DOCOMO Ventures, in Matchmove Pay Pte. Ltd. (headquartered in Singapore; CEO, Shailesh Naik, hereinafter called “MatchMove Pay”), a startup company that provides a mobile wallet platform in the Asian region, in April 2019. 

In Asian countries, there are many areas where the rate of opening bank accounts or the diffusion rate for credit cards is still low. However, smartphones are rapidly spreading among the populations there, and an environment to provide a diverse range of e-payment means is being created. Under such circumstances, there has been growth in needs of wanting to provide mobile wallets with essential banking features, including its own QR Code-based payment, among companies that offer services to consumers. 

MatchMove Pay offers and introduces to these companies a mobile wallet platform/payment platform of a cloud-based, full-featured, secure and price-competitive billing model, in a few weeks, across the entire the Asian region, and it has been rapidly growing recently. MatchMove Pay’s service enables such companies to establish their own mobile banking wallet more efficiently than the internal development of such a system and provide consumers with the wallet and card from major networks. 

There is a high degree of affinity between MatchMove Pay’s service and NTT DATA1 business that engages in payment service provider (PSP) business, comprehensively providing member stores (retailers or e-commerce) with payment means (credit cards, debit cards, and e-wallet) in Asian countries; NTT DOCOMO Ventures has invested in MatchMove Pay’s services because we believe that the investment will contribute to future business creation. 

1 NTT DATA comprehensively offers means of payment across various Asian countries (China, Vietnam, Thailand, Malaysia, India, etc.) with NTT DATA Hong Kong, a wholly owned subsidiary, as a hub of its payment business.

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