2 December 2019
SINGAPORE, 2nd December 2019
MoolahGo®, a Singapore-based Multi-currency Payment Specialist, and Global eTrade Services (GeTS), a global leading trade platform company owned by PSA International, today announced the launch of a unified Payment service on GeTS' CALISTA™ Finance platform. This launch follows a strategic partnership agreement that was inked between MoolahGo and GeTS in the third quarter of this year and system integration using MoolahGo's Business API platform.
CALISTA™ is an interoperable, neutral, and trusted supply chain platform that enables the orchestration of logistics, compliance, and financial activities. As a next step enhancement of CALISTA™, CALISTA™ Finance enables customers to access global payments, express trade financing as well as apply for insurance quotations. This open, neutral platform enables GeTS to integrate directly with multiple payment providers, financial institutions and insurance brokers. MoolahGo is one of CALISTA's pioneering payment provider that further extends CALISTA™ Finance payment coverage and taking advantage of MoolahGo's award-winning payment services which include national and cross-border payments.
MoolahGo is licensed and regulated by the Monetary Authority of Singapore (MAS) and is a Major Payment Institution (MPI) under the new Payment Services Regulation that will be implemented from January 2020 onwards. As an MPI, MoolahGo will be providing multiple payment related services ranging from eWallet to eMoney issuance and to Cross-border payments for both consumers and businesses. MoolahGo's unique approach in providing multi-currency payment solutions through its proprietary marketplace engine is what sets it apart from its competitors. Through its marketplace, MoolahGo sources best pricing, settlement and pay-out methods for its customers. And now with its API platform, it has opened up its services to be tapped into by corporates and financial institutions to offer to their own clients.
Mr. John Hakim, CEO of MoolahGo, said "This partnership between MoolahGo and GeTS makes a lot of sense because our two companies share a common philosophy of creating an open platform to connect market participants directly and to establish a frictionless economy. Payment is one of the most important factors in the supply chain equation. Getting payments right may mean beating your competitors in cargo clearance and therefore demand fulfilment. Getting it wrong on the other hand, may result in delayed shipment and lost opportunities. Although it sounds simple, cross-border payments can be as complex as shipping goods across borders. Just like physical goods entering a country are scrutinized at the ports, governments around the world carefully monitor money that enters their financial systems. With our strong experience in processing payments for business clients across various industries, MoolahGo ensures that payments are processed timely, in a compliant manner and without any glitches."
Mr. Chong Kok Keong, CEO of GeTS, said "CALISTA™ Finance signals fintech as one of the key cluster of services in CALISTA™ a global supply chain orchestration platform. MoolahGo is one of the best in class payment providers that we are working with to provide B2B payment options for our supply chain and logistics communities. This will form part of the full suite of payment services in our roadmap that enables our customers to make and receive payments globally pay with cheaper rates and faster speed."
MoolahGo announced in August 2019 the launch of its B2B Cross-border payment API platform and in March 2019 announced an investment by Eric Barbier, the Founder and former CEO of TransferTo (now known as Thunes). MoolahGo is also planning to announce its Pre-Series A funding in the coming weeks.
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