- Instapay complements Indonesia's"Ayo UMKM Jualan Online" (Let SMEs Sell Online) campaign to get SMEsacross Indonesia to trade products online
- Targets to have 8 million SMEscustomers to leverage on MC Payment platform by 2020
- Mobile micro financing andinstalments platform for SMEs will be rolled out in the coming months
SINGAPORE/ HONG KONG, CHINA - Media OutReach - 13 September 2018 - MC Payment, ahomegrown fintech player, announced the soft launch of Instapay, a B2C paymentplatform targeting Indonesian Small-Medium Enterprises ("SMEs") market. Instapay enables merchants and theircustomers to simplify payment transactions, by using social messaging apps suchas Whatsapp and Line to facilitate payments. Approximately 1000 merchants havesigned up and utilized the payment services to date.
Instapayis a mobile application that provides businesses with the ability to invoicetheir customers via social media and accept various payment methods. It can be performed quickly, easily,securely, anytime and anywhere. Instapaycan help small business owners expand into international markets and acceptinternational credit cards. It can also accept credit card payments withoutwebsite integration or EDC machine.
PT MCPIndo Utama (MC Payment's Indonesia division) Country Director, Mr ValerinoWijaya said "MC Payment hasidentified pain points associated with payment processes in SMEs. This includesinability to monitor and accept a wide range of payment channels. Instapayprovides an easy mobile-based solution that directly solves these problems sobusinesses can focus on what they do best."
Many industries look to benefit fromthe convenience offered by Instapay. The wedding industry for instance has manysole-proprietor businesses such as florists and tailors who will benefit.Similarly, small retailers selling shoes and fashion accessories online as wellas small-to-medium hotels and villas in the tourism industry will benefit fromthe enlarged consumer market size.
Thisis in tandem with Indonesia's "Ayo UMKM Jualan Online" (Let SMEs SellOnline) campaign1, which isaimed at attracting and persuading SMEs across Indonesia to sell products viaonline marketplaces to increase profits and prosperity. Several governmentbodies that have taken part in the campaign include the Communications andInformation Ministry, the Cooperatives and Small and Medium EnterprisesMinistry and the Creative Economy Agency (Bekraf). 6 online marketplaces whowere involved are; Blibli.com, Tokopedia, Bukalapak, Shopee, Lazada andBlanja.com.
TheIndonesian government has set the goal of letting 8 million SMEs go online by2020. 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 ExecutiveOfficer, Mr Anthony Koh, said, "MCPayment is pleased to strengthen our market presence in Indonesia with Instapay. Approximately 1000 Indonesia merchantssigning with us, is a testimony of the platform accessibility and stability. Instapay enables small merchants to save timewithout the hassle of going to a bank. At the same time, these small business owners will be able to managetheir cashflows better."
"MC Payment will be rolling out supporting services like mobilemicro financing and instalments for SMEs in the coming months. SMEs can getsmall loans approved within 24-hours using their mobile phones. We will keepthe public updated in due course."
Public To Take Note
On 27 April 2018, MC Payment as well as itsshareholders and bondholders entered into a conditional sale and purchaseagreement with Artivision Technologies Ltd. (a company listed on the Catalistboard of the SGX-ST) for Artivision Technologies Ltd. to acquire all theordinary shares and convertible bonds issued by MC Payment. The proposedacquisition, when successfully completed, will result in a reverse take-over.The proposed acquisition and its due diligence are in progress and have notbeen completed as at to-date.
This announcement has no material effect onthe proposed acquisition.
About MC Payment
Founded in Singapore in 2005, MC Payment is an establishedprovider for electronic payment solutions in Asia Pacific. It is both a paymenttechnology and merchant service company that supports the end-to-endvalue-chain of commerce transactions, ranging from suppliers and merchants toconsumer payments.
As apioneer omni-channel and omni-payment provider in Southeast Asia, MC Paymentalso boasts blockchain enabled solutions as part of its suite of paymentsolutions, remaining at the forefront of the mobile and digital payments whilesupporting merchants with traditional online and in-person payments.
On 27April 2018, MC Payment as well as its shareholders and bondholders entered intoa conditional sale and purchase agreement with Artivision Technologies Ltd. (acompany listed on the Catalist board of the SGX-ST) for Artivision TechnologiesLtd. to acquire all the ordinary shares and convertiblebonds issued by MC Payment. The proposed acquisition, when successfullycompleted, will result in a reverse take-over. The proposed acquisition and itsdue diligence are in progress and have not been completed as at to-date.
Formore information, kindly refer to https://mcpayment.com/