MyMy partners with Mastercard to empower Malaysians with a new breed of financial service

Homegrown e-wallet player, MyMy has had a strong start ahead of its launch in early 2022. MyMy today announced its partnership for a principal membership from Mastercard, adding prepaid physical and virtual cards to their offering. MyMy is the only Malaysian start-up that was able to receive this esteemed approval from Mastercard. It also added a further RM4 million in foreign direct investment, bringing the company's total funding to RM23 million. 

“If the pandemic has shown us anything, it's that Malaysians deserve better financial services. Having to visit bank branches for the most simple of tasks is outdated. We want to build financial services from the ground up with all Malaysians at the centre of the solution. We also want to show all Malaysians that fintech entrepreneurship is possible without moving to Silicon Valley, ” said CEO and Co-Founder of MyMy, Kishore Samuel.  

Made for Malaysians, by Malaysians, MyMy envisions a future where everyone in the country has more say over the future of their financial services. “We named ourselves MyMy (short for My Malaysia) with our customers in mind: Malaysians. It’s about all of us. MyMy wants to put the power back in the hands of the people and empower every Malaysian to take greater ownership of their finances. Thanks to our partnership with Mastercard, we are one step closer in building something truly unique for Malaysians and their needs”, added Samuel.  

Mastercard also commented on granting MyMy their principal membership. “In recent years, Malaysia-based Financial Technology companies have played a pivotal role in driving the country’s digital economy. Across the world, the payments ecosystem is vast and changing and partnerships like this will be crucial in opening doors for underserved markets such as cooperatives, addressing the gaps on the fintech roadmap and enabling those businesses access to better use of financial services,” says Devesh Kuwadekar, Vice President of Market Development, Malaysia, Mastercard.