PR97676

LONDON and ZUG, Switzerland, Sept. 6, 2022 /PRNewswire=KYODO JBN/ --

Users will benefit from the convenience of Mastercard's leading payment

acceptance network to spend globally and earn loyalty rewards from the Maps.me

[ http://maps.me/ ] ecosystem.

Maps.me, alongside Monavate, today announce a new prepaid card offering,

powered by Mastercard. Today's consumers are digital, borderless, and proving

to be increasingly open to using financial products that are integrated with

apps that they use daily and trust. With a waiting list of more than 1 million

users for the Maps.me digital wallet, this means all 60 million users of

Maps.me could be able to make payments wherever Mastercard is accepted.

"This product extension means Maps.me users will be able to enjoy cashback,

discounts, and other rewards when travelling, anywhere Mastercard is accepted,"

said Maps.me Co-founder Alex Grebnev. "By seamlessly integrating payments into

an app that users already know and love, Maps.me is bringing the benefits of

embedded finance to its millions of users in the form of lower costs and

greater convenience. And with over a million people already on the waiting

list, the demand for this is clear."

In addition to Mastercard prepaid cards, registered Maps.me wallet iPhone users

will be able to pay for goods and services globally through Apple Pay. The

Apple Pay functionality was made available on the iOS version of Maps.me last

month, with activation codes being sent to users who request them in-app.

Already the world's leading offline mapping application, Maps.me has more than

60 million annual active users and has been downloaded 140 million times over

the past nine years. Approximately half of the Maps.me users who responded to a

survey said they would like to access financial capabilities through the app.

Maps.me is part of the Oxygen.org ecosystem, a user-driven financial system

that allows people and institutions to transact directly with each other,

rather than via a large financial institution. As well as making payments, the

Maps.me Wallet will also enable users to earn yields of up to 8% as well to

transfer money instantly to friends and family globally.

"Today's digital native consumers expect payment solutions to be as fast and

agile as possible, and we're delighted to help open up the possibility for

millions of Maps.me users to get Mastercard prepaid cards" said Monavate's

Chief Commercial Officer, Scott Lucas. "This Maps.me partnership follows a

similar one that Monavate supported for digital assets specialist Baanx and

Mastercard earlier this year, and demonstrates the growing trend of integration

of digital financial services."

About Maps.me

Maps.me is the world's leading off-line mapping application for travellers with

60 million annual active users who plan and navigate journeys worldwide with

the app. Maps.me has integrated financial services including payments, forex

and passive income generation, becoming part of a new generation of

decentralized finance (DeFi) platforms that use smart contracts to allow users

to transact directly with each other, rather than via a financial institution.

Through Maps.me, users can also enjoy a range of exciting rewards including

eSIM connectivity, cashback opportunities and discounts.

Website links:

Maps.me:        https://maps.me/

Monavate:       https://www.monavate.com/

Mastercard:     https://www.mastercard.com

Logo - https://mma.prnewswire.com/media/1891280/MAPS_ME_Logo.jpg

Source:  Maps.me