OxPay Financial’s wholly-owned subsidiary MC Payment (M) Sdn. Bhd, has entered into a partnership agreement with ASX-listed IOUpay Limited’s subsidiary, IOU Pay (Asia).
OxPay would, through the agreement, add the buy now pay later (BNPL) option into its online e-invoicing, quickpay and web payment acceptance platform in Malaysia.
The option will also be added in OxPay’s online-to-offline (O2O) payment platform in Malaysia.
“This partnership enables more OxPay merchants in Malaysia and in the region to provide BNPL payment options to consumers, and caters to growing consumer demand for deferred payment choices,” says Kim Moon Soo, managing director of OxPay’s Malaysian operations.
“This alternative payment solution will further drive the roll out of OxPay’s O2O payment acceptance platform to retailers in Malaysia and businesses across the region, thereby boosting sales amid the business recession during this Covid-19 pandemic,” he adds.
“OxPay is one of the well-positioned payment players in Malaysia and across the region, leveraging its strategical regional presence in Singapore, Thailand and Indonesia. IOUpay wishes to extend its merchant and customer base through the partnership, which will in turn accelerate merchant business growth and recovery as we emerge from this Covid-19 pandemic,” says Khong Kok Loong, CEO of IOUpay.
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As at 9.39am, shares in OxPay are trading 1 cent higher or 4.08% up at 25.5 cents.
Photo: OxPay
