OxPay Financial Limited, a prominent player in the Singaporean payment solutions market, has announced a strategic collaboration with Green Link Digital Bank Pte. Ltd. (GLDB) through its subsidiary, OxPay SG Pte. Ltd.
The partnership, formalized in a non-binding Memorandum of Understanding (MOU), aims to explore joint opportunities in merchant acquisition, enhancing both companies’ expansion strategies. This MOU, effective from December 15, 2023, will last for one year.
Under this agreement, OxPay will leverage its extensive merchant network to promote GLDB’s banking and financing facilities. In return, GLDB will endorse OxPay’s payment solutions to its customer base.
This synergy is expected to significantly integrate payment solutions with digital banking services, providing clients and merchants with streamlined operations for business growth and scalability.
Yick Li Tsin, the newly appointed Chief Operating Officer of OxPay SG, emphasized the transformative potential of this partnership.
“By merging OxPay’s robust payment solutions with GLDB’s specialized banking services, we are pioneering a new standard in integrated financial services. Our focus extends beyond business growth; we aim to create market-wide synergies that deliver substantial value to our customers,” he stated.
Gary Wu, Chief Marketing Officer of GLDB, highlighted the ease and security benefits of this collaboration.
“As a digital bank, we prioritize accessibility, simplicity, and safety in financial services. Partnering with OxPay enhances our commitment to offering small and medium-sized enterprises (SMEs) more rewarding financial solutions,” he remarked.
This partnership announcement follows OxPay Financial Limited’s appointment of Mr. Yick Li Tsin as COO of OxPay SG and Executive Officer of the Group on November 9, 2023.
With a rich background in fintech, including roles as CEO of Candypay Holdings Pte. Ltd. and Business Development Director at Chong Sing Holdings Fintech Group Limited, Mr. Yick brings valuable expertise to OxPay.
He holds a Bachelor of Business Administration from the National University of Singapore and a Postgraduate Diploma in Systems Analysis from the Institute of Systems Science at the same university.