OxPay Financial (SGX:TVV
) announces that it has entered into a strategic partnership with Liquid Group to integrate its flagship RoamQR payment framework into OxPay’s payment solutions platform, with the goal of expanding QR wallet acceptance for merchants.
Liquid Group is a Singapore-headquartered fintech company licensed by the Monetary Authority of Singapore (MAS).
RoamQR is a QR payment network that connects Singapore banks, wallets, non-bank financial institutions, and acquirers domestically, while also linking Singapore’s payment ecosystem with partner national systems across the region and beyond.
OxPay Financial highlights that RoamQR supports QR payments from multiple local and international mobile wallets across countries including China, Cambodia, Vietnam and South Korea.
The company believes that this strategic partnership brings together its newly upgraded payments platform and Liquid Group’s RoamQR to enable merchants to accept multiple regional e-wallets.
Following the integration, OxPay Financial expects the new platform to help existing merchants capture rising inbound tourist spending by accepting payment methods familiar to tourists, while enhancing its capabilities in merchant acquisition, collectively driving growth in total processing volume.
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“In addition to the Singapore market, we are exploring opportunities to leverage RoamQR in selected overseas markets where OxPay holds relevant payment licences. This would support enhanced merchant acquiring capabilities while improving payment convenience for Singapore residents when travelling,” says Chin Mun Chung, OxPay Financial’s CEO.
"Our partnership with OxPay extends this interoperability directly to merchants in Singapore and, over time, to OxPay’s regional markets. This allows us to scale real-world QR usage across travel corridors while supporting merchants in capturing inbound tourist spending more effectively,” states Jeremy Tan, CEO of Liquid Group.
Shares in OxPay closed 0.1 cent lower, or 2.44% down at 4.0 cents on March 6.
