Under the term sheet, OxPay will invest US$1.1 million ($1.5 million) for a 45% stake in the enlarged share capital of PT DPI. The investment will be paid partly in cash and partly in shares in OxPay.
OxPay Financial has signed a non-binding summary of key terms with PT Diners Payment Indonesia (PT DPI) in relation to OxPay’s proposed investment in the latter.
PT DPI is the Indonesian agency for the country’s Discover and Diners Club and merchant acquiring payment processing business. PT DPI is also in the process of acquiring the requisite payment processing licence, credit and charge card issuing and acquiring licence and other relevant licences to conduct its business from the Indonesian government and relevant government agencies.
