OxPay Financial Limited (SGX: TVV) is set to expand its business by issuing credit cards, serving around 4,000 merchants mainly in Singapore, with a presence in Malaysia and Thailand.
Despite a revenue drop in FY2023, new CEO Yick Li Hsin aims to grow the company by targeting smaller merchants in Indonesia, Malaysia, and Thailand. Strategic partnerships with DCS Card Centre and Green Link Digital Bank will enhance OxPay’s services, including transaction processing and financing.
These initiatives are expected to boost customer loyalty and market growth, solidifying OxPay’s position in the Asia-Pacific fintech market.
OxPay and the new venture
OxPay’s venture into credit card issuance and strategic partnerships aligns with its broader goal to increase its market presence in the Asia-Pacific region. These initiatives are expected to enhance customer loyalty and drive growth by tapping into new and existing markets.
With an established digital infrastructure and a growing geographical presence, OxPay is well-positioned to capitalize on significant market opportunities and reinforce its standing as a leading fintech player in the region.