{"id":11120,"date":"2022-03-28T07:00:12","date_gmt":"2022-03-27T23:00:12","guid":{"rendered":"https:\/\/www.smallcapasia.com\/?p=11120"},"modified":"2023-10-01T16:47:05","modified_gmt":"2023-10-01T08:47:05","slug":"oxpay-financial-riding-the-digital-payment-boom","status":"publish","type":"post","link":"https:\/\/www.smallcapasia.com\/zh-hans\/oxpay-financial-riding-the-digital-payment-boom\/","title":{"rendered":"OxPay Financial: Riding The Digital Payment Boom"},"content":{"rendered":"

If you haven’t heard of it, OxPay Financial was previously MC Payment and the name change came about after a board tussle for control.<\/p>\n

You can read more about it here<\/a><\/em>.<\/p>\n

Anyway, now the company is chaired by Mr. Ching Chiat Kwong – who is also CEO of Oxley Holdings while his son Shawn Ching is also roped into the firm.<\/p>\n

About OxPay Financial<\/h2>\n

The Group is principally engaged in the provision of payment processing services and digital commerce enabling services, with focus on the retail, transportation, and food and beverage industries.<\/p>\n

The Group operates two (2) distinct business segments:<\/p>\n

    \n
  1. MPS business segment<\/strong> \u2013 The Group provides payment processing services through its unified platform and smart software<\/em>, which can be (a) installed onto or integrated with any smart devices (including mobile phones, tablets, and smart point-of-sales (\u201cPOS\u201d) terminals) for merchants with physical stores or (b) integrated into websites and applications of online merchants.<\/li>\n
  2. DCES business segment<\/strong> \u2013 The Group provides its ancillary services, such as the sale\/lease of smart POS terminals, provision of proprietary and licensed software as a service<\/em>, and white-labelling of its proprietary or licenced software, and development of bespoke software for its merchants.<\/li>\n<\/ol>\n

    To understand why Mr. Ching wanted a piece of the payment provider, we need to look at the inherent value of its payment licenses.<\/p>\n

    OxPay Financial is Singapore\u2019s first payments company to be listed and possesses four payment licences including the Payment Services Provider Licence from the Monetary Authority of Singapore (MAS).<\/p>\n

    \"oxpay<\/a><\/p>\n

    Mr Ching is upbeat about its prospects and said:<\/p>\n

    \n

    \u201cYou will not see payment companies in Singapore with so many licences for Singapore, Malaysia, Indonesia and Thailand, and potentially, licensed in Europe, Australia and Cambodia. <\/em><\/p>\n

    These licences will expose us to greater international communities in the e-payment business\u201d.<\/em><\/p>\n<\/blockquote>\n

    The firm also has a target to acquire 4 more payment licenses across 4 countries in the next 2 years namely Vietnam, Cambodia, Philippines and Australia.<\/p>\n

    How OxPay Financial makes money<\/h2>\n

    \"\"<\/a><\/p>\n

    From the above, you can see that Oxpay Financial takes a cut out of every transaction being made (ignore the actual numbers because it may not reflect the actual %<\/em>).<\/p>\n

    Here’s also another video to show Oxpay POS accepting GrabPay transactions:<\/p>\n