Asia embraces opportunities in seamless mobile payment solutions
In a move ahead of its time, Singaporean company MC Payment made a bold move in 2005 to make the mobile phone an alternative payment gateway. Less than a decade later, MC Payment leads in providing mobile point-of-sale (MPOS) payment solutions in Asia.
From its origins as a start-up provider of innovative payment solutions, MC Payment has grown to incorporate MPOS solutions to adapt leaping changes in smart mobile device technology and consumer expectations. Through its MPOS solutions, it has become the seamless bridge that connects telecommunications and payment networks.
"We bring telecommunications and payment services together to offer new solutions for improved consumers' experience," says MC Payment CEO Anthony Koh.
Aside from being a multichannel provider of end-to-end and secured connectivity to banks, MC Payment also provides a variety of payment solutions catered to different consumption needs, ranging from face-to-face to online payments.
By leveraging its partnership with strategic international acquirers that have established a presence in Asia, MC Payment has quickly expanded its reach across the region. "We have anchored ourselves in this era of change," Koh says.
MC Payment's in-depth knowledge of consumer experience and payment landscape, coupled with its innovative solutions and dedicated employees, have likewise contributed to the company's business growth. The company is working on its pilot MPOS projects in Hong Kong, Singapore and Malaysia that cover industries such as insurance, retail and food and beverage. Having success in getting Chinese merchants on the mainland to accept overseas payment services, MC Payment continues to welcome merchants and synergises local partners on the mainland. It is also set to offer the first MPOS solution in Asia to accept Visa, MasterCard, China UnionPay, American Express and JCB.
For MC Payment, the opportunities in mobile payments are huge. Demands can range from remote payment to proximity payment. "We are only covering the tip of the iceberg," Koh says.