TrueMoney, a financial application in Thailand, has partnered with Paymentology to enhance its financial services in Thailand and Cambodia. The joint venture will leverage Paymentology’s card issuing platform and analytics capabilities, allowing TrueMoney to expand its offerings in payments, savings, and investments. TrueMoney recently launched the TrueMoney Mastercard, a co-branded virtual prepaid card powered by Paymentology, aimed at promoting cashless transactions among the unbanked population.
The partnership comes at a time when Southeast Asia is witnessing increased efforts towards the adoption of cashless payments, with digital wallets being the most popular form of digital payment in Thailand. With the support of Paymentology, TrueMoney plans to launch Google Pay with MDES Tokenization, allowing users to conveniently make cross-border payments using their TrueMoney Mastercard. The partnership with Paymentology is expected to strengthen TrueMoney’s position in the market and contribute to the growing trend of cashless payments in the region.
Pradnya Gugale, Senior Analyst says “By leveraging Paymentology’s card issuing platform and analytics capabilities, TrueMoney can offer a more comprehensive suite of financial services, enhancing the user experience. This collaboration will not only enable seamless and secure cashless transactions but also address the financial needs of the unbanked population, fostering financial inclusion in Thailand and Cambodia. With the expertise and support provided by Paymentology’s, users can expect 24/7 assistance, convenient cross-border payments, and a leading-edge mobile finance experience. This partnership marks a significant milestone in driving the adoption of cashless payments and solidifying TrueMoney’s position as a frontrunner in the evolving landscape of digital finance.”
Author : Pradnya Gugale Senior Analyst at Quadrant Knowledge Solutions
