Instarem, the digital cross-border payments arm of Singapore-based fintech firm Nium, has collaborated with Mastercard to launch Amaze, a card that allows users to link up to five other bank cards.
Currently available in the city-state, the Amaze card can be used to make online and offline payments for everything from buses and trains to ecommerce purchases without the need for top-ups. Customers could also be eligible for cashback from Instarem over and above the rewards they get from their banks.
Instarem plans to roll out the Amaze card in other Southeast Asian countries in the near future.
The company currently operates in over 100 countries, serving over 130 million end customers. It has licenses to operate in countries like India, Singapore, Japan, Malaysia, Indonesia, the UK, and the US.
Its parent company, Nium, recently just became the first business-to-business payments unicorn from Southeast Asia after raising more than US$200 million in its latest funding round. The fintech company is currently processing US$8 billion in payments annually, with revenues growing by almost 4x year-over-year.
Source Techinasia
