The agreement will also strengthen CIMB Bank's merchant services for both card transactions and financing products and form the basis for further discussions which may require parties to enter into separate definitive agreements.
OxPay Financial (SGX:TVV
) and CIMB Bank have entered into a non-binding agreement in an effort to enhance digital payment solutions to lower transaction fees for merchants.
In an announcement on April 20, OxPay says the agreement will “bolster” its presence in Singapore as the exclusive payment gateway collaboration partner of the Malaysian bank, which operates on a full banking license in Singapore.
