Paymentology’s card issuing platform and analytics capabilities accelerate next generation financial services in Thailand and Cambodia
July 12th, 2023:
Paymentology, the leading global issuer-processor today announces the expansion of its current partnership with TrueMoney, Southeast Asia's leading e-payment services and financial services provider.
TrueMoney was established in 2013 and quickly became Thailand's leading digital financial application for all mobile carriers. In Thailand, the platform includes payment, saving and investment services. Its payment services include, TrueMoney Mastercard (previously named as WeCard), TrueMoney Cash Card, Kiosk, Payment Gateway and Remittances.
Building on TrueMoney’s success in Thailand, and as part of its efforts to support financial inclusion in Cambodia, TrueMoney recently bolstered its offering with the launch of a co-branded virtual prepaid TrueMoney Mastercard supported by Cambodia’s Sathapana Bank through BIN (Banking Identification Number). Powered by its global technical payments partner, Paymentology, the virtual prepaid Mastercard card is available to the ‘unbanked’ members in the country and is further promoting cashless transactions.
Linked to the rise of cashless transactions across Southeast Asia, a Mastercard’s New Payments Index 2022 highlighting that more than 94% of Thai consumers have used digital systems to pay for services, with the most used form of payment being digital wallets, Paymentology has now powered True Money to launch Google Pay with MDES Tokenization.
Strengthening the alliance between TrueMoney, Paymentology, Google and Mastercard, Google Wallet users can now add their TrueMoney Mastercard to pay with Google Pay in store, efficiently and securely.
Apinand Dabpetch, Head of Growth & Wallet Platform at TrueMoney commented:
“Our partnership with Paymentology, one of the preferred issuer processors of Mastercard, has been a key factor in propelling our growth journey and enabling us to pave the way for innovation in Southeast Asia. We take immense pride in joining forces with global partners to offer our users inclusive financial services that cater to their needs.”
Google Pay has revolutionised the way people transact globally, with more than 150 million users from over 40 countries utilising its convenient features. Android smartphone users can effortlessly pay for goods and services at leading stores worldwide, both online and offline, including world-class restaurants, pharmacies, clothing stores and many more retail establishments. By seamlessly facilitating transactions, Google Pay enhances the spending experience for Thai consumers, making it hassle-free and borderless.
Emre Durusut, Regional Director APAC at Paymentology added:
“We are incredibly proud to be TrueMoney's trusted issuer processing partner, and thrilled to celebrate its recent milestones which strengthens TrueMoney's standing as a trailblazer in digital payments. With our cutting-edge payment technology and collaboration with industry giants such as Mastercard and Google, TrueMoney has become one of the pioneers of digital financial services in Southeast Asia.”
To find out more about Paymentology: Paymentology.com
To find out more about TrueMoney: Truemoney.com
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About Paymentology
Paymentology is the leading next-gen global issuer-processor. It gives banks, fintechs and telcos the technology, team, and experience to easily issue and process any type of physical or virtual card; debit, prepaid, credit, BNPL, revolving and more. Anywhere in the world, rapidly and at scale.
Paymentology’s superior multi-cloud Platform offering both shared and dedicated processing instances, vast global presence and richer real-time data, set it apart as the leader in payments. Its payments experts bring deep, local market knowledge on the ground in 60 countries, across 14 time zones, guaranteeing 24/7 support. Paymentology is deeply committed to increasing financial inclusion worldwide, and to making a positive impact in the communities in which it operates.
About TrueMoney
TrueMoney is a Southeast Asia's leading fintech company providing financial services for users including the unbanked across 7 countries in Thailand, Cambodia, Myanmar, Vietnam, Philippines, Indonesia, and Malaysia. Established in 2013, TrueMoney has become a part of Ascend Group in 2014 and also a partner of Ant Group since 2016. Today, the company provides various financial services through TrueMoney, the most popular payment and financial application that enables convenience and ease of everyday life. Its extensive partner network across Southeast Asia also enables millions of users in the region to access innovative financial services, leading them to better lives.
For more information, please contact:
Soonthornwat (Shane) Thanawatnanthachot
Email: hello@brandnow.asia
Tel: +662 105 4217
Mobile: +6695 109 6525 (A)
