E-payment market will get more fragmented before it gets better

THE e-payment industry in Singapore is becoming increasingly fragmented - with even more non-financial players entering the space - - while it should be moving towards an integrated seamless customer experience.

On Thursday, Catalist-listed Artivision Technologies, previously a media solutions and contract manufacturing company, announced that it is doing a reverse takeover (RTO) to acquire e-payment firm MC Payment for up to S$125 million.

If the deal goes through, it will create a new business in e-payment for Artivision, which only in February became a cash company with no operating subsidiaries or businesses. It will also make Artivision the latest player to capitalise on Singapore's recent push towards cashless payments.