The agreement enables OxPay to resume international payments via Visa, Mastercard, Diners Club International and China UnionPay.
OxPay Financials TVV The wholly owned subsidiary OxPay SG signed a framework agreement as a payment intermediary with DCS Card Centre on 25 March.
The framework agreement with the payment intermediary enables OxPay to process credit cards and loyalty cards issued by DCS and to resume international payments via Visa, Mastercard, Diners Club International and China UnionPay.
In addition, OxPay now offers alternative payment methods such as PayNow, GrabPay, SingTel Dash and other wallets, providing merchants with a complete range of payment solutions.
The company is also working with DCS on other products and solutions to make it easier for its customers to access credit.
DCS, formerly known as Diners Club Singapore, is a fintech company that provides fintech and crypto payment solutions. DCS is also a financial institution authorized to issue credit and debit cards in Singapore. Its activities are regulated by the Monetary Authority of Singapore (MAS) under the Banking Act, 1970.
According to Yick Li Tsin, CEO of OxPay, the partnership with DCS Card Centre is of great significance for the company. “This agreement not only expands our ability to process a variety of payment methods, including DCS cards, but also enables us to resume our core international payments via Visa, Mastercard, Diners Club International and China UnionPay, and integrate alternative payment methods such as PayNow, GrabPay and SingTel Dash.”
“This strengthens our payments portfolio and represents a significant advancement in our commitment to offering comprehensive payment solutions that meet the evolving needs of our merchants and their customers in the digital age,” adds Yick.
OxPay shares closed unchanged at 4.2 cents on March 28.
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