Besides offering an e-payment platform that includes major debit/credit cards and local payment methods such as PayNow, the website built by MC Payment includes a built-in calculator to enable the quick calculation of Zakat Harta and allows for auto-filing to Inland Revenue Authority of Singapore (IRAS) for entitled tax relief.
SEE: MC Payment receives subscription for 10 mil placement shares amounting to $4 mil
In addition, the group will host payment integration platforms for Our Madrasah and Our Masjid, a crowdfunding initiative to support local mosques and madrasahs. The group will also provide payment solutions for the Islamic Learning Hub and Management (ILHAM) for the collection of registration fees, school/course fees and recurring fees.
Anthony Koh, executive director and CEO of MC Payment, says that the group appreciates the long-term partnership with MUIS to manage the payment platform. “We appreciate the trust placed in MC Payment by MUIS and remain dedicated to creating long-term sustainable value for all our stakeholders," he says.
Shares in MC Payment closed 1 cent or 2.44% higher at 42 cents on March 18.
