MeaWallet, the cloud-based mobile payment platform, has partnered up with payment solutions company, Value Card, to launch open and closed loop mobile payment wallet solutions in the Philippines.
The Philippines has a population of over 100 million and one of the highest smartphone penetration growth rates in Asia, which makes it a highly attractive market for the payments industry. What makes it even more appealing to the industry is the country’s implementation of the EMV standard in 2017.
The partnership program will specifically address this opportunity and has already been launched with the first bank and retail customers entering into the ValueCard Payment Ecosystem.
MeaWallet’s cloud-based mobile payment platform will be used to introduce payment services as well as other services like loyalty, coupons and more in a wallet made for the Philippine Market.
The partnership provides existing and new customers of ValueCard the ability to add branded mobile wallets and cloud-based digital mobile payment cards to their portfolio of card products.
The open loop mobile cards will initially support MasterCard® and Visa® cloud based mobile payment schemes.
“This partnership means that our customers will have a faster route to mobile payments through a payment ecosystem supported by banks, retailers and MNOs, using new innovative products such as customer branded digital mobile payment cards and mobile wallets,” said Joseph Issifu, founder and COO of ValueCard.
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