MC Payment Wins Exclusive Payments Contract For Mosque Madrasah Wakaf Shared Services (MMWSS)
- Introduces integrated payment solution for live streaming sellers on Facebook
- Live Selling trends gather pace with travel restrictions and social distancing
measures imposed in response to the COVID-19 pandemic
- herohippo Live Selling Solution reduces pain points for merchants by enabling
seamless, hassle-free order placement, payment, tracking and fulfilment activities
SINGAPORE, April 06, 2021 – MC Payment Limited (SGX: TVV) (“MC Payment” or the “Company”, and together with its subsidiaries, the “Group”) is pleased to announce that it has rolled out a seamless, integrated payment solution for live streaming sellers on the social media platform, Facebook. Launched in Singapore during the first quarter of 2021, the Group’s herohippo Live Selling Solution helps business owners resolve their daily pain points, including managing online orders, accepting and processing a variety of digital payment methods, as well as tracking deliveries, hassle-free.
With online shopping and e-commerce booming in the wake of travel restrictions and social distancing measures imposed in response to the COVID-19 pandemic, Live Selling activities on social media platforms have also escalated. Currently, most Facebook Live Sellers still execute and manage their order placements, track and fulfil orders manually, either through personal messaging or other web-based applications. This can be a messy, cumbersome and time-consuming process, which could result in higher costs and even lost sales.
In comparison, the Group’s herohippo Live Selling Solution is easy to integrate into sellers’ live streaming events. It allows buyers to search for products and make purchases with a click of a button. It also offers a seamless and integrated digital payment process through secured channels, and allows for convenient order tracking and delivery. After the Live Selling event has concluded, the Group’s herohippo Live Selling Solution enables business owners to monitor their revenues, review their sales performances and manage their marketing plug-in easily.
In the Group’s 2021 MCP Digitization Survey, 90% of marketing leader users described the herohippo Live Selling Solution as “one of their most important tools” for accepting orders, acquiring more buyers, and reducing costs in tracking payments.
MC Payment is a Singapore-based, online-to-offline (O2O) financial services technology group, with a fully integrated platform and a focus on servicing merchants in the retail, transportation and food and beverage industries. Its wholly-owned subsidiary, Mobile Credit Payment Pte. Ltd., which was established in 2005, holds a major payment institution licence in Singapore, and is regulated by the Monetary Authority of Singapore under the Payment Services Act 2019.
Currently, MC Payment has a presence in four countries – Singapore, Malaysia, Indonesia and Thailand – with ambitions to become a regional player.
With digital payments in ASEAN expected to triple to US$1.5 trillion (S$2 trillion) by 20301, the Group believes it is well-placed to capitalise on this significant and growing market opportunity, given its established infrastructure and expanding geographical footprint. Asia also leads the growth in non-cash transactions globally, registering a five-year CAGR of 24% to US$244 billion in 2019, driven by its soaring Internet economy2.
Executive Director and Chief Executive Officer of MC Payment, Mr Anthony Koh, said: “We are very pleased to roll out our herohippo Live Selling Solution on Facebook in Singapore to address the daily pain points of Live Sellers. This can help them track orders, manage payments and deliveries, hassle-free. Our herohippo Live Selling Solution offers a panacea for the woes that online social media merchants face, and we look forward to increased take-up rates for this service.”
Investor Relations and Media Contact:
Ms Loke Chunying
Mobile +65 9222 7687