- Instapay complements Indonesia's
"Ayo UMKM Jualan Online" (Let SMEs Sell Online) campaign to get SMEs
across Indonesia to trade products online
- Targets to have 8 million SMEs
customers to leverage on MC Payment platform by 2020
- Mobile micro financing and
instalments platform for SMEs will be rolled out in the coming months
SINGAPORE/ HONG KONG, CHINA - Media OutReach - 13 September 2018 - MC Payment, a
homegrown fintech player, announced the soft launch of Instapay, a B2C payment
platform targeting Indonesian Small-Medium Enterprises ("SMEs") market. Instapay enables merchants and their
customers to simplify payment transactions, by using social messaging apps such
as Whatsapp and Line to facilitate payments. Approximately 1000 merchants have
signed up and utilized the payment services to date.
is a mobile application that provides businesses with the ability to invoice
their customers via social media and accept various payment methods. It can be performed quickly, easily,
securely, anytime and anywhere. Instapay
can help small business owners expand into international markets and accept
international credit cards. It can also accept credit card payments without
website integration or EDC machine.
Indo Utama (MC Payment's Indonesia division) Country Director, Mr Valerino
Wijaya said "MC Payment has
identified pain points associated with payment processes in SMEs. This includes
inability to monitor and accept a wide range of payment channels. Instapay
provides an easy mobile-based solution that directly solves these problems so
businesses can focus on what they do best."
Many industries look to benefit from
the convenience offered by Instapay. The wedding industry for instance has many
sole-proprietor businesses such as florists and tailors who will benefit.
Similarly, small retailers selling shoes and fashion accessories online as well
as small-to-medium hotels and villas in the tourism industry will benefit from
the enlarged consumer market size.
is in tandem with Indonesia's "Ayo UMKM Jualan Online" (Let SMEs Sell
Online) campaign1, which is
aimed at attracting and persuading SMEs across Indonesia to sell products via
online marketplaces to increase profits and prosperity. Several government
bodies that have taken part in the campaign include the Communications and
Information Ministry, the Cooperatives and Small and Medium Enterprises
Ministry and the Creative Economy Agency (Bekraf). 6 online marketplaces who
were involved are; Blibli.com, Tokopedia, Bukalapak, Shopee, Lazada and
Indonesian government has set the goal of letting 8 million SMEs go online by
2020. As of 2017, there are a total of 59.26 million SMEs operated in Indonesia.
However only 3.97 million SMEs were active online.
MC Payment's Chief Executive
Officer, Mr Anthony Koh, said, "MC
Payment is pleased to strengthen our market presence in Indonesia with Instapay. Approximately 1000 Indonesia merchants
signing with us, is a testimony of the platform accessibility and stability. Instapay enables small merchants to save time
without the hassle of going to a bank.
At the same time, these small business owners will be able to manage
their cashflows better."
"MC Payment will be rolling out supporting services like mobile
micro financing and instalments for SMEs in the coming months. SMEs can get
small loans approved within 24-hours using their mobile phones. We will keep
the public updated in due course."
Public To Take Note
On 27 April 2018, MC Payment as well as its
shareholders and bondholders entered into a conditional sale and purchase
agreement with Artivision Technologies Ltd. (a company listed on the Catalist
board of the SGX-ST) for Artivision Technologies Ltd. to acquire all the
ordinary shares and convertible bonds issued by MC Payment. The proposed
acquisition, when successfully completed, will result in a reverse take-over.
The proposed acquisition and its due diligence are in progress and have not
been completed as at to-date.
This announcement has no material effect on
the proposed acquisition.
About MC Payment
Founded in Singapore in 2005, MC Payment is an established
provider for electronic payment solutions in Asia Pacific. It is both a payment
technology and merchant service company that supports the end-to-end
value-chain of commerce transactions, ranging from suppliers and merchants to
pioneer omni-channel and omni-payment provider in Southeast Asia, MC Payment
also boasts blockchain enabled solutions as part of its suite of payment
solutions, remaining at the forefront of the mobile and digital payments while
supporting merchants with traditional online and in-person payments.
April 2018, MC Payment as well as its shareholders and bondholders entered into
a conditional sale and purchase agreement with Artivision Technologies Ltd. (a
company listed on the Catalist board of the SGX-ST) for Artivision Technologies
Ltd. to acquire all the ordinary shares and convertible
bonds issued by MC Payment. The proposed acquisition, when successfully
completed, will result in a reverse take-over. The proposed acquisition and its
due diligence are in progress and have not been completed as at to-date.
more information, kindly refer to https://mcpayment.com/