OxPay has partnered with Cambodia-headquartered Pi Pay to explore an international payments alliance between various countries including Cambodia, Singapore, Indonesia, Thailand and Malaysia.
The two companies seek to connect their respective platforms and offer wallet-to-wallet payments, remittances as well as other services aside from developing new solutions that are not payment in nature.
Pi Pay is backed by Cambodia’s Anco Group, which has extensive holdings in property, infrastructure, hospitality, power and trading businesses. Pi Pay’s key partners include Alipay, WeChat Pay and Korea’s KB Kookmin Bank.
The partnership is in line with OxPay’s strategic direction to increase its presence in the Asia Pacific region, presenting a sizable opportunity for it to tap into Pi Pay’s merchant network and expand its customer base.
OxPay managing director Henry Tan says the company hopes to increase the connectivity for both payment and remittance services through the collaboration. “The partnership also sets the groundwork for even more innovative and complex services beyond the payment solutions,” he adds.
Shares in OxPay closed at an unchanged 14.2 cents on Sept 5.
