Exclusive: SG fintech firm launches cross-border payments for Visa accounts

Singapore-based fintech startup Moolahgo has rolled out its cross-border payment feature to Visa accounts, allowing the firm’s users to make money transfers to over 3 billion Visa cards globally, the company told Tech in Asia.

Photo credit: Moolahgo

Moolahgo has partnered with payments solution provider Checkout.com to launch the cross-border payments service.

Called “Pay Now to Card,” the feature supports both Visa credit and debit cards. Moolahgo claims it is the first Singapore fintech firm to offer a payment-to-card service in a digital wallet.

The company expects the service to make up 20% of the company’s e-wallet gross transaction value in the next 12 months.

“​​With this ability, Moolahgo is now not confined to moving money between bank accounts or wallets, but just about from or to anyone anywhere in the world with a Visa card. We are no longer confined to Singapore or even the Southeast Asia region,” John Hakim, founder and CEO of Moolahgo, told Tech in Asia.

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The company is also in talks to raise a series A funding round and plans to ramp up hiring across its sales and tech verticals. In September 2021, Moolahgo raised US$3.3 million in a pre-series A fundraise from Indonesian services giant Lippo Group.

Last year, Moolahgo launched a real-time payment service in Indonesia, allowing users to make cross-border payments from Indonesia to Singapore using just a mobile number. The company is now looking to provide the same service in China.