Singapore FinTech Wallet Engine has partnered with cloud banking platform Mambu to fast-track the development of its Wallet-as-a-Service offering.
This aims to become the go-to solution to embed financial services into any app or user experience.
Wallet Engine empowers non-financial organizations to launch their own branded wallets for seamless money transfers between their users, regardless of the dollar amount or country of origin – with its core focus on micro transactions and cross-border capabilities.
Gregor Arn, CEO and Co-founder at Wallet Engine, said: “Traditionally, if a customer wanted to send a small amount of money to someone else via their bank or financial provider, it was a very difficult and incredibly expensive exercise – often the fees would swallow the amount being transferred.
“Wallet Engine wanted to solve this problem by focusing on micro transactions and removing the problems created by the unique regulatory systems in different countries.
“We believe that making low-value, cross-border cash transfers quick, easy and inexpensive will have a significant impact on financial inclusion, particularly in those countries that are currently underbanked or underserved.
“Our Wallet-as-a-Service subsequently enables organizations in all sorts of industries to launch their own branded wallets to provide their customers with added value that is convenient and simple.”
Click below to share this article