“Customers know best which transactions should and should not be allowed against their cards and accounts, so Tranwall provides the ability to effortlessly set your own transaction controls and security via multiple channels, including mobile phones.”
PERTH, Australia (PRWEB) December 23, 2017
Perth based Tranwall Ltd (Tranwall), an Australian Fintech company announced the signing of a non-exclusive Reseller Agreement with Union Mobile Financial Technology Co., Ltd (UMF), a significant Chinese financial services provider in Beijing. The deal provides a platform for Tranwall’s transaction control technology to reach millions of card and accountholders in China.
Tranwall’s transaction control platform allows consumers to manage their card and account transactions via multiple channels in real time, with the mobile phone being most prominent device used, therefore ensuring the control and security of their finances. Customers can select what transactions should and should not be allowed to be authorised against their cards or transactional accounts.
This includes a consumer’s ability to switch specific transaction types on or off in real-time, including Tap and Pay, ATM or e-commerce transactions, just to mention a few. It also allows the management of specific merchant type transactions, for example not allowing betting and gambling transactions.
Tranwall co-CEO, Greg Haynes said we are very excited about the conclusion of the Reseller Agreement with an organisation such as UMF, and are looking forward to the opportunity now presented for both of our companies to build the adoption of our technology in China.
“This is a significant agreement for the growth of our business and provides the opportunity for Tranwall to market the technology to UMF’s existing Chinese client base, and new clients,” said Mr Haynes.
Tranwall’s technology provides financial institutions with an out-of-the-box customer focused mobile solution for increasing customer engagement, customer retention and top of wallet status, whilst reducing fraud and operational costs through increased customer self-service. The service can be either integrated directly into the financial institution’s current mobile banking application, or used as a stand-alone application, dependent on the institution’s desired digital and growth strategy, and can also be made available via their internet banking platform.
“UMF is a significant organisation in the Chinese market, currently cooperating with over 110 financial institutions, more than 3,000 large enterprises, 700,000 small & medium-sized enterprises and over 450 million individual consumers, and we are very proud to have an organisation of this standing in our camp, providing local credibility to the technology and services we provide,” said Mr Haynes.
The Tranwall technology has been developed and refined over the last few years, and whilst existing reseller relationships exist in Africa, the Perth based company is now developing reseller agreements across the APAC region in which the company has a strong focus.
Tranwall intends to invest significant resources in the Chinese banking market over the coming years. As per the Peoples Bank of China, the end of 2016 showed a 12.54% year on year growth of cards in issue in China, to 6.13 billion cards, as well as 35.49% year on year growth in bank card trading volume.
China is already the largest card market in the world, and additionally, with US$5.5 trillion in mobile payments last year, China is also the leader in mobile banking technology and adoption of mobile payments platforms through the likes of Alipay, JD.com and WeChat.
“We are currently focusing on the APAC market and expect that the Chinese adoption of Tranwall technology will lead to market acceptance throughout the wider Asia market,” said Mr Hayes.
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