For Immediate Release
MC Payment Poised To Become Singapore’s First Listed Digital Payments Firm
- First digital payments service firm to strike the gong at market open today to mark the commencement of trading of its shares on the Singapore Exchange (“SGX”) Catalist today, following a successful reverse takeover (“RTO”)
- RTO of Catalist-listed Artivision Technologies completed on 18 February 2021
- Present in 4 countries, with ambitions to become a regional player
- Well-positioned to capitalise on boom in ASEAN digital payments market
SINGAPORE, February 22, 2021 – MC Payment Limited (SGX:TVV) (“MC Payment”, the “Company” or the “Group”) will become the first digital payments services firm to be listed on SGX, after the successful completion of the RTO of Artivision Technologies Ltd. on 18 February 2021.
Established in 2005 and regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019, Mobile Credit Payment Pte. Ltd. (a wholly-owned subsidiary of MC Payment) (“MCP”) holds a major payment institution licence. It is a Singapore-based, online-to-offline (O2O) financial services technology (Fintech) company, with a fully integrated platform and a focus on servicing merchants in the retail, transportation and food and beverage industries.
ZICO Capital Pte. Ltd. was the Sponsor and Financial Adviser in respect of the RTO, while Evolve Capital Advisory was the financial adviser to MCP.
MC Payment believes its listing takes place at an opportune time, with digital payments surging in Southeast Asia amidst the rise in online and e-commerce transactions. This follows the implementation of safe-distancing measures by respective governments and public health concerns in the wake of the COVID-19 pandemic. The Group keeps a competitive edge with its omni-channel, unified commerce capabilities, leveraging on its position as one of the few licensed payment providers with a regional presence and scalable payment infrastructure.
Currently, MC Payment has a presence in four countries – Singapore, Malaysia, Indonesia and Thailand – with ambitions to become a regional player. Future growth avenues for the Group include penetrating new geographical markets through mergers and acquisitions, joint ventures and/or franchises, developing new technology and other payment solutions, as well as rolling out new value-added services for merchants, to boost customer retention and expand its customer base.
“Being the first digital payments service firm to be listed on SGX, we intend to take the lead in strengthening this ecosystem. This listing on SGX will provide an excellent platform for MC Payment’s future growth. We see bright prospect underpinned by the rapid rise of e-commerce, the surge in digitisation, as well as increased access to 5G mobile technology, and growth opportunities in the field of blockchain and AI. Forecasts of a robust growth trajectory for Southeast Asia’s digital consumer population growth also augur well for our future opportunities in this space,” said Chief Executive Officer of MC Payment, Mr Anthony Koh.
With digital payments in ASEAN expected to triple to US$1.5 trillion (S$2 trillion) by 2030, the Group believes it is well-placed to capitalise on this significant and growing market opportunity, given its established infrastructure and expanding geographical footprint.
Mr Levin Lee, a fund manager with Ace Peak Capital Group commented as follows: “The industry’s robust prospects in the region are well-documented. As a seasoned investor with investments in the region including Singapore, Hong Kong, Malaysia, and Thailand, we see immense potential in the digital payments space,” said Mr Lee.
 This information was extracted from a media release entitled “Digital payments in Asean to triple to US$1.5t by 2030: report” published by The Business Times on 16 October 2020, which can be accessed at: https://www.businesstimes.com.sg/asean-business/digital-payments-in-asean-to-triple-to-us15t-by-2030-report#:~:text=DIGITAL%20payments%20in%20Asean%20are,Global%20Research%20Asean%20Next%20report., data accessed on 26 January 2021.
About MC Payment
MC Payment is principally engaged in the provision of merchant payment services and digital commerce enabling services, offering online-to-offline (O2O) solutions through a fully integrated platform with a focus on servicing merchants in the retail, transportation and food and beverage industries. Its end-to-end payment
platform offers comprehensive solutions for merchants, ranging from hardware and software to data analytics and other technology-driven, value-added services tailored to specific industries. Its solutions cater to merchants with both on-line and off-line presences, provided through a unified platform digitalising engagement across all channels. MC Payment currently has a presence in four geographical markets – Singapore, Malaysia, Indonesia and Thailand – with ambitions to become a regional player.
For more information, please visit us at http://mcpayment.com/
Investor Relations and Media Contact:
Ms Loke Chunying
Mobile: +65 9222 7687
This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company’s control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this press release with respect to the Company
This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, ZICO Capital Pte. Ltd. (the “Sponsor”), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual Section B: Rules of Catalist.
This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.
The contact person for the Sponsor is Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.