Financial services firm Rubique has partnered with MatchMove India, a mobile wallet solution provider, to launch a new prepaid card for the partners, distributors and individuals of its business associate network.
The new card will be linked to MatchMove’s Bank Wallet Operating System (Wallet OS) and can be used for the payment of commissions, incentives and cashbacks.
Meant for both in-store and online purchases, the card does not require any specific bank account and can be used similar to any other debit card.
Cardholders can pre-load the card by transferring money to their Wallet OS through UPI, debit card or net banking. The users will further be able to avail loans on their card and withdraw cash at ATMs or MasterCard-enabled online and offline channels.
Rubique managing director and CEO Manav Jeet said: “India’s economy is quickly evolving towards the digital platform. The new wave of fintech companies not only questions the traditional business practices but it is also the key driving force in changing the current landscape.
“Keeping this in mind, we have chosen to collaborate with MatchMove to ease our payment process to our key channel partners who are our business associates.”
Rubique expects that MatchMove’s platform additionally help in minimising business costs and facilitate improved management and performance tracking of its resale channels.