“The Mobile Wallet” and Singapore’s Blockchain App “SendX” Form Strategic Partnership
The science of blockchain will be used at the retail level for mass consumer benefit – a first in India.
Vinay Kalantri, founder and managing director of TMW
The Mobile Wallet (TMW), one of India's leading payment brands and SendX Private Limited, a Singapore based blockchain apps company along with its partner, The Ammbr Foundation, have entered into a strategic global partnership. Together they will launch a series of blockchain-based services using the SendX and Ammbr platforms, addressing opportunities in communications, payments and identity. On the cards in the very near term is the launch of the SendX Global Token, for which TMW is a launch partner. This will be enabled with the Self-Sovereign Digital Identity programme from Ammbr. In addition, the merchant partners of TMW will be enabled to become communications and transactions hubs for the mobile urban population in India. The science of blockchain will be used at the retail level for mass consumer benefit – a first in India.
The Mobile Wallet (TMW) is a Mumbai based fintech company delivering best in class digital payment solution to its customers. TMW is India’s first complete service wallet with a seamless and integrated Mobile App, Mastercard powered Pre-Paid Card in association with RBL Bank and a Virtual Pre-Paid Card enabling its users to use their wallet balance across 2.5 million POS machines and for all ecommerce, recharge and utility bill payments.
"We are very keen to bring value and speed to our consumers as we expand globally. Our partnership with SendX and Ammbr helps us go to market fast with a product that is streets ahead of competition. Blockchain is the future and TMW has always endeavored to bring the latest technology to its consumers. This partnership will open up a chain of opportunities in the retail financial sector. Together, with SendX and Ammbr, we will help reshape the world of financial services", says Vinay Kalantri, the founder and Managing Director of TMW.
"TMW impressed us with their ability to see the future much earlier than most others. Above all, Vinay and his team are willing to invest in growing the market for services aligned to new demographics, real consumer needs and the drive to democratize finance. We are very happy to have TMW as a strong, progressive partner for our global token launch. We will be working with them to launch a local India edition of our token as well. Our partnership with Ammbr and now this new initiative in which the three of us are joining hands, is all about choice and empowerement for consumers and merchants", said Alan Chiu and Kaustuv Ghosh, cofounders of SendX. Sendx is a global company of Singaporean origin. It delivers the better way to transfer value worldwide, correcting the high costs, latencies and process overheads that accompany money movement today. It also operates a stored value facility (SVF) called SendX Singapore which uses a cryptographic token called SDX, running off the Stellar Consensus Protocol.
"Providing usable and reliable digital tools to consumers who are not being sufficiently served is a vision we share with TMW and SendX. The opportunity to partner with these thought leaders in building solutions is exhilarating and well timed", says Derick Smith, founder at The Ammbr Foundation. The Ammbr Foundation is based in Singapore, with technology development partners in the United States, Ireland, Belgium, Switzerland and Hong Kong.
Around The World