SYNQA announces collaboration with Toyota Financial Services Corporation to further accelerate the development of the TOYOTA Wallet Platform
Singapore, 25 December 2020 – SYNQA is pleased to announce that the company has entered into a partnership with Toyota Financial Services Corporation (TFS) by signing a memorandum of fundamental commitment to accelerate the growth of TFS’s smartphone payment app, TOYOTA Wallet. The first deployment of this new TOYOTA Wallet App platform was released in Thailand this year. With this partnership, SYNQA will further support TFS by providing enhanced enterprise solutions and products.
Prior to the global COVID-19 outbreak, SYNQA began to see growing demand amongst enterprises for digitization and innovation. As a result of the pandemic, the demand for digital transformation accelerated dramatically. To respond to this demand and support enterprise partners, SYNQA established its subsidiary OPN Pte., Ltd. (OPN) in May this year. OPN focuses on providing enhanced embedded financial solutions using open APIs and blockchain technologies. OPN provides one-stop solutions for enterprises by offering consulting on fintech solutions, developing customized solutions, and creating platform infrastructures. This partnership between SYNQA and TFS will further strengthen and solidify our co-operative relations, helping to accelerate TFS’s digital transformation. Furthermore, OPN will develop innovative and unique products of its own.
[About TOYOTA Wallet]
TOYOTA Wallet is a smartphone payment app that offers prepaid, credit and debit payment services. Currently in Thailand, TOYOTA Wallet can be used as a payment option in Toyota dealerships or for payments of the KINTO subscription mobility services that Toyota offers. They are planning a continued expansion of their services in the coming years. As a local partner, TOYOTA Wallet is partnering with Siam Commercial Bank (SCB) to collaborate on areas such as linking IDs and providing solutions powered by SCB.
< Toyota Wallet App>
< Toyota Wallet’s Services>
SYNQA is a holding company founded in 2015 with expertise in Asia. SYNQA specializes in online payment, blockchain technology for fintech applications, and digital transformation. SYNQA connects people, businesses and society in innovative ways that spread the wealth of financial opportunity and provide fair and open access to a growing economic ecosystem. For more information on SYNQA, visit www.synqa.co or follow us on Twitter.
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