OxPay eyes new markets and merchants to grow its revenue

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.