OxPay Financial Limited has announced a phased recovery plan aimed at revitalising its business operations, alongside the appointment of a new executive director and chief executive officer, Chin Mun Chung. With over 24 years of experience from AXS Pte. Ltd., Chin is set to lead the company’s expansion into the business-to-consumer (B2C) market, marking a strategic shift from its traditional business-to-business (B2B) focus.
The recovery plan, unveiled alongside the company’s third-quarter financial results for 2025, emphasises strengthening OxPay’s B2B product portfolio whilst venturing into the B2C sector for sustainable long-term growth. The company also plans to introduce an instant merchant sign-up function, enhancing its competitive edge in niche markets. This initiative is supported by a newly appointed chief risk and compliance officer, who will oversee the strengthened risk management framework.
The board’s decision to implement this recovery strategy and appoint new leadership reflects its commitment to steering OxPay back to a growth trajectory. “With continued support from shareholders, the Board is confident in achieving a business turnaround in the foreseeable future,” the company stated.
OxPay’s financial results for the third quarter of 2025 showed a revenue increase of 13% compared to the same period last year, although the company reported a loss of $515,000 (S$703,000). The board remains optimistic that the new strategic direction will lead to improved financial performance and shareholder value.
