MC Payment shares opened 2.7 per cent or 1.5 Singapore cents higher at 57 cents on Monday. As at 1.15pm, the counter was trading 2.7 per cent or 1.5 Singapore cents lower at 54 cents, with 4.1 million shares changing hands. MC Payment, which has a presence in Singapore, Malaysia, Indonesia and Thailand, provides merchant payment services and digital commerce-enabling services. Its wholly-owned subsidiary Mobile Credit Payment Pte Ltd (MCP), holds a major payment institution license. Singapore-based MCP was established in 2005 and is regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. MCP is an online-to-offline fintech company with a platform that serves merchants in the retail, transportation and food and beverage industries.
Firm sees bright prospects underpinned by the rapid rise of e-commerce, the surge in digitization, increased access to 5G mobile technology, and growth opportunities in the field of blockchain and artificial intelligence. MC Payment is well-positioned to tap SGX’s fundraising platforms and Singapore’s technology hub status as a launchpad into the region. The listing of MC Payment, which has a market capitalization of about S$139 million, brings the total number of companies listed on Catalist to 218, with a combined market capitalization of around S$11 billion.