The Business Times
business-time-50

OxPay eyes new markets and merchants to grow its revenue

google-preferred-sourceAdd BT as a preferred source
Raphael Lim

Raphael Lim

Published Tue, Dec 27, 2022 · 05:50 AM
    • OxPay is also working on collaborations with Visa, Mastercard and banks, in relation to enabling BNPL and lending platforms, and expects this to be launched in Q1 2023
    • Henry Tan, managing director, OxPay Financial
    • OxPay is also working on collaborations with Visa, Mastercard and banks, in relation to enabling BNPL and lending platforms, and expects this to be launched in Q1 2023 PHOTO: PIXABAY
    • Henry Tan, managing director, OxPay Financial PHOTO: OXPAY

    MORE than a year after a high-profile boardroom tussle between its controlling shareholder and its founder, Catalist-listed OxPay Financial is looking to close the chapter and focus on growing its payment business.

    The company – formerly known as MC Payment – has ambitions to expand into other countries in the region. Group managing director Henry Tan, who took the helm in July 2021, told The Business Times that he is “very confident” that it can “easily double” its payment touch points by end-2023.

    Payment touch points – such as physical terminals at stores and e-commerce payment pages – fall under OxPay’s core merchant payment services (MPS) segment, which accounted for around two-thirds of the group’s revenue in 2021.

    Oxpay FinancialMC Payment

    TRENDING NOW

    The new vehicles will comprise a mix of fully electric and hybrid models, including the BYD Seal 6 DM-i.

    ComfortDelGro’s Zig to buy S$10 million worth of BYD cars for private-hire fleet

    StarHub’s H1 Ebitda – excluding Ensign, a cybersecurity joint venture with Temasek – fell 23.8% for the period ended Jun 30.

    Singapore telco price war squeezes earnings, strengthens case for StarHub-M1 deal, say analysts

    Sats posted a S$75.1 million net profit for Q1, up 6% from S$70.9 million in the same year-ago period.

    Sats slides 13.6% as investors dump shares on profit-margin squeeze

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More