8 October 2024
Under the Radar: AXS’ Group CEO sheds light on the evolving payments landscape, acquisition of stake by Tower Capital Asia, partnership with Unionpay
It’s all about the payments landscape today as we speak to a pioneer in Singapore’s fintech space. Make a guess – this company also has over 650 self-service kiosks across Singapore and handles over 650 million bill payments since its inception in the year 2000.
We’re talking about bills for schools, government, hospitals, insurance, utilities and more. And users also use the kiosks to pay for their fines or as we call it here in Singaporean terms - “summons”.
You might have guessed it by now, our guest is indeed payments provider AXS. AXS is an interesting company to look at because of various reasons surrounding its ownership, the changing business environment and recent partnerships.
In July 2023, DBS Bank had agreed to sell a 77.8 per cent stake in AXS to locally based private equity firm Tower Capital Asia. The move was said to provide AXS with the financial backing needed for its regional expansion and technological upgrades. But what should we know on this front, and what has been done one year since the news emerged?
Meanwhile, to cater to changing consumer preferences and the increased need for integrated payments solutions, AXS came up with a newly launched app called AXS Drive to simplify parking payments without the need for physical cards. The question though is – how important is this for AXS financially?
On the partnerships front, the firm also teamed up with Aleta Planet to launch remittance service through UnionPay. But what were the reasons behind the move, and how much money is in this space?
On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to Jeffrey Goh, Group Chief Executive Officer, AXS.

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8 August 2024
Industry Insight: Driving innovation to provide convenience for seamless parking
If you drive, you may have experienced getting stuck at a car park gantry. It is a common occurrence when motorists forget to top up their value cards and subsequently experiencing awkward moments at the carpark gantry. Singapore payment platform AXS has a solution. It recently launched AXS Drive, a mobile app that auto-deducts parking fees through the driver's credit or debit card linked to their car details. Available on Android and iOS, drivers can download the AXS Drive app, input their car plate and In-Vehicle Unit (IU) number, and link a credit or debit card for payments. AXS says the initiative is the first such innovation for Singapore and the Southeast Asia region. Jeffrey Goh, Group Chief Executive Officer, AXS shares more on the future of contactless payments at the car park.

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8 November 2023
Passion Pursuits: Fintech veteran finds enjoyment in woodworking
Jeffrey Goh, Executive Director of AXS ditches tech for woodwork in his spare time. Jeffrey shares his passion for woodworking with Money FM and lets us in on why he enjoys producing his own furniture with used wood.

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