Wallet startup TMW Fintech faces bankruptcy risk

  • TMW Fintech purchased goods from MCT Cards and Technology Pvt. Ltd, a Manipal-based provider of SIM cards and smart cards for biometric identification and payment facilitation.
  • TMW Fintech has no publicly declared external funding and offered a wallet-linked prepaid card powered by global payments firm Mastercard.
  • A year later, TMW Fintech collaborated with Reliance Infrastructure Ltd’s Mumbai Metro One, launching a 2-in-1 travel Metro smart card.
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