The new service, called Pay Now to Card, was added to Moolahgo’s eWallet app and will enable users to transfer money directly to both Visa credit and debit cardholders.
The new digital payment to card service is expected to enable fund transfers to more than three billion visa accounts across the globe.
Moolahgo founder and CEO John Hakim said: “Adding this Payment to Card feature is a natural evolution of our eWallet App which is already a leading remittance app in Singapore and is another step towards turning the Moolahgo eWallet into a payments super-app.”
The company’s eWallet app enables the users to enter their sensitive card information without compromising their privacy.
The encrypted card details will be stored by Checkout.com. The paying party will only be able to see a partial masked information while transferring funds.
Checkout.com Customer Success senior global director Ashley Paulus said: “Admist an increase in online fraud, consumers are increasingly wary of disclosing sensitive card information.
“Moolahgo’s ‘Pay Now to Card’ solution incorporates the safety of consumers which would encourage the wider adoption of money transfers via the Visa Direct network.”
Last year, the volume of transactions carried out by Visa cardholders reached more than $13tn across the world.
With the newly launched service, Moolahgo aims to further explore the vast card payments market.