Press Release: MC Payment Wins Exclusive Payments Contract For MMWSS, A Subsidiary Of MUIS

MC Payment Wins Exclusive Payments Contract For Mosque Madrasah Wakaf Shared Services (MMWSS)

• Awarded exclusive contract to manage MMWSS payments platform
• Platform developed for Zakat to go live on 1 April 2021 in time for Ramadan
• Contract includes managing payment solutions for Our Masjid crowdfunding initiative, the Islamic learning hub Ilham, Madrasah, and the Mosque Building Fund

SINGAPORE, March 19, 2021 - MC Payment Ltd. (SGX:TVV) ('MC Payment' or the 'Company', and together with its subsidiaries, the 'Group') is pleased to announce it has been awarded an exclusive contract to manage the payments platform belonging to Mosque-Madrasah-Wakaf Shared Services (MMWSS), a subsidiary of MUIS (Majlis Ugama Islam Singapura, also known as the Islamic Religious Council of Singapore). This platform will offer a full suite of digital payment methods, including major debit/credit cards and local payment methods such as PayNow.

As part of the services provided under the contract, MC Payment will develop a website for Zakat (a religious obligation or donation), which includes an e-payment platform. The platform (https://www.zakat.sg) which has a built-in calculator to enable the quick calculation of Zakat Harta, also allows for auto-filing to Inland Revenue Authority of Singapore (IRAS) for entitled tax relief. zakat.sg is scheduled to go live on 1st April 2021 in time for Ramadhan (a period where Muslims will fast), during which Muslims in Singapore, an estimated population of nearly 900,000, will be making compulsory payments known as Zakat Fitrah.

In addition, the Group will host payment integration platforms for Our Masjid (https://ourmasjid.sg/) and Our Madrasah (https://ourmadrasah.sg), a crowdfunding initiative to support local mosques and madrasahs. It will also provide payment solutions for the Islamic learning hub, Ilham (https://learnislam.sg), for the collection of registration fees, school/course fees and recurring fees.

The entire project is an initiative by MMWSS to digitalize and automate its processes.

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This press release contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectations implied by these forward looking statements. The Company makes no representation or warranty, express or implied, as to or endorsement of the accuracy or completeness of any information, statements or representations contained in this press release with respect to the Company

This press release has been prepared by the Company and its contents have been reviewed by the Company's sponsor, ZICO Capital Pte. Ltd. (the 'Sponsor'), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited ('SGX-ST') Listing Manual Section B: Rules of Catalist.

This press release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms. Alice Ng, Director of Continuing Sponsorship, ZICO Capital Pte. Ltd. at 8 Robinson Road, #09-00 ASO Building, Singapore 048544, telephone [phone].