"A Bank in Any App."
The Singapore banking-as-a-service company that hands businesses accounts, cards, payments and lending as code - so they never have to become a bank themselves.
Ask most founders what it takes to add a debit card or a cross-border payout to their product, and the honest answer is: a license, a compliance team, and a couple of years. MatchMove exists to erase that answer. The Singapore company sells banking-as-a-service - a stack of accounts, cards, payments and lending delivered through APIs - so a business can ship financial features without holding a banking charter of its own.
The pitch is compressed into a trademarked line: "A Bank in Any App." Behind it sits the Banking Wallet OS, MatchMove's proprietary, MAS-regulated platform. It organizes the product into verbs - Spend, Send, Lend - and, after a 2022 acquisition, Sell. Spend covers instantly issued virtual and physical cards on Visa and Mastercard. Send handles peer-to-peer transfers, mass disbursements and cross-border remittance. Lend extends credit informed by how customers actually spend and move money.
The company was founded in 2009 by Shailesh Naik, who still runs it as Group CEO, alongside co-founder Hsueh Huah Leow. That timing matters: MatchMove was building embedded-finance plumbing years before the industry had a tidy name for it. By 2015 it had become one of Mastercard's first non-bank partners cleared to issue prepaid cards - starting, memorably, with a card aimed at gamers.
What makes the model work is boring on purpose. MatchMove holds the regulatory permissions - a MAS Major Payment Institution license, Mastercard and Visa issuer status, and more than ten years of continuous PCI DSS certification. Its customers borrow that regulatory standing. For a fintech in a hurry, compliance handled by someone else is not overhead; it is the whole reason to sign.
Every app can be a bank. Every platform can offer payments.— MatchMove's operating premise
The MAS-regulated engine that ties everything together - the API-first platform businesses embed to offer Spend, Send and Lend inside their own apps.
Own-brand virtual and physical card programs on Visa and Mastercard, with just-in-time funding controls for real-time spend management.
A stored-value ledger and collections system letting businesses spin up and manage multi-currency accounts at scale.
International transfers, remittance and mass disbursement reaching 200+ payout countries through a network of 100+ partners.
Direct connectivity for instant Singapore-dollar transfers and real-time domestic settlement.
Credit and lending solutions where scores draw on customers' real spending and sending behaviour, not just static bureau data.
Who its customers are. MatchMove is a B2B - often B2B2C - infrastructure company. Its clients are enterprises, fintechs, banks and consumer platforms that want to bolt financial features onto what they already run: payroll and workforce apps paying gig workers, corporate-expense tools, BNPL and lending products, Web3 wallets and digital banks. More than 100 partners and over three million end users sit on top of the platform. Named examples include Singapura Finance's Vivid savings account, Maxi-Cash's MaxiPAY, the European Credit Investment Bank, RemotePass and Salmon.
The problems it solves. Building regulated money movement in-house is slow, expensive and legally fraught. MatchMove collapses that: a single API call can issue a card, open an account, send a cross-border payout or extend credit. It also chases a bigger target - the underbanked across Southeast Asia - by embedding accounts into apps people already open daily, rather than asking them to walk into a branch.
How it is different. Plenty of firms issue cards or move money. MatchMove's edge is the combination: a full Spend-Send-Lend-Sell stack under one MAS license, sold to businesses that value a regulator's stamp. Its ten-plus years of unbroken PCI DSS compliance and its status as a licensed issuer are the differentiators enterprises actually underwrite against. The Shopmatic acquisition added e-commerce, letting a merchant sell and get paid inside the same rails.
Where it fits in the market. MatchMove sits in the global banking-as-a-service and embedded-finance category alongside names like Nium, Marqeta, Rapyd, Airwallex and Galileo - but with a distinctly Asia-Pacific centre of gravity and a regulated-issuer posture. Its footprint spans Singapore, the Philippines, Japan, Indonesia, Thailand and Vietnam.
"Ten years ago, Mastercard demonstrated a visionary commitment to the future of finance by collaborating with us."— Shailesh Naik, Founder & Group CEO, MatchMove
Shailesh Naik and Hsueh Huah Leow start MatchMove to move money digitally.
Becomes one of Mastercard's first non-bank prepaid partners; launches the IMBA GAMERCARD.
Vickers Venture Partners and others back the company's growth.
Joins Singapore's digital-bank conversation; pilots fingerprint card technology with Mastercard.
Strategic investor Nityo Infotech backs global expansion, largely via in-kind investment.
A US$200M deal adds e-commerce ('Sell') to Spend, Send and Lend.
Crosses $5B processed; earns Frost & Sullivan awards and a Mastercard decade milestone.
Frost & Sullivan 2026 Singapore Embedded Finance Company of the Year
Frost & Sullivan 2026 Asia-Pacific Cross-Border Payment & Remittance Technology Innovation Leadership
Asia Pacific Enterprise Awards 2021 - Fast Enterprise category
One of Mastercard's first non-bank prepaid partners, marking a decade of collaboration in 2026
MatchMove is a banking-as-a-service company. It lets any business embed financial services - accounts, cards, payments and lending - into its own app through an API-first platform called Banking Wallet OS, without the business needing its own banking license.
It was founded in Singapore in 2009 by Shailesh Naik, who serves as Founder and Group CEO, along with co-founder Hsueh Huah Leow.
Yes. MatchMove is a MAS-licensed Major Payment Institution in Singapore, a Mastercard licensed issuer and a Visa Direct issuer, and it is PCI DSS 4.0.1 certified with more than ten years of continuous compliance.
Estimates range from roughly US$150M to US$236M across multiple rounds, including a US$100M Series D in 2021 - most of it in-kind - led by strategic investor Nityo Infotech.
Enterprises, fintechs, banks and consumer platforms that want to embed payments, cards, accounts or lending - spanning fintech, payroll, corporate expense, Web3, BNPL and lending - with 100+ partners and 3M+ end users onboarded.
Profile compiled from public sources including matchmove.com, PR Newswire, Crunchbase, Tracxn, YourStory, DealStreetAsia and Bloomberg. Figures such as total funding and revenue are approximate and vary by source. Content is informational and may change as the company evolves.