MC Payment Limited announced that its online-to-offline (O2O) payment platform, which started processing BNPL transactions for retail merchants since 1 December 2020, has seen a steady pick-up in transaction volumes over the past few months. In the month of February 2021, BNPL transaction volumes on MC Payment's O2O payment platform crossed the SGD 500,000 mark. The Group started developing its O2O payment platform for a selected group of merchants in late third quarter ended 30 September 2020. With the addition of BNPL transactions, the payment platform can offer a full suite of digital payment methods, including major debit/credit cards and local payment methods such as GrabPay and PayNow, as well as provide merchants access to a new and growing BNPL consumer base. MC Payment's BNPL service has been rolled out in Singapore. Currently, there are about 100 acceptance points for BNPL in Singapore, offered by merchants in the fashion, lifestyle and cosmetics segments. The company's role is that of the payment gateway, so any financial risks, including payment defaults for BNPL transactions, will not be borne by MC Payment.