Goh Yong Seng joins mPayment as director and substantial shareholder
Tuesday, 1 March 2005
 
W3 announced today that Mr Goh Yong Seng has joined mPayment as director and substantial shareholder. Under Yong Seng's dynamic leadership, mPayment managed judiciously its target path-to-profitability achieving its first profit year in 2004.
 
W3's Deputy Chairman Andy Quak said, "Yong Seng is a rare breed of technopreneur with very good experience in managing start-ups and excellent technical and enterprise system experience. His understanding of software application architecture has helped mPayment in enhancing their products and services. Under his leadership, mPayment has managed to reach out to new enterprise customers and increase existing customers' confidence". Yong Seng had earlier held key appointments as Chief Technology Officer (in dotERP for 2001-2003 and in mPayment for 2004) taking charge of product development and technology exploration.
 
Goh Yong Seng added, "my aim is to help mPayment build up its recurrent income as a sustainable growth revenue model. mPayment's products and delivery must necessarily exceed customer requirements and market demands to carve for itself a strong niche position, and to earn substantial cashflow to finance research & development, attract and retain good talents".
 
About Goh Yong Seng

Yong Seng joined mPayment as director and substantial shareholder in March 2005. He is an entrepreneur with very good experience in start ups. He had been holding key appointments as Chief Technology Officer (in dotERP for 2001-2003 and in mPayment for 2004) in driving product development and technology exploration.

Yong Seng has excellent enterprise system experience. His understanding of software application architecture has helped mPayment in enhancing their products and services. Under his leadership, mPayment has managed to reach out to new enterprise customers and increase existing customers' confidence.

Yong Seng graduated from Imperial College, London Universityin 1998 with a First Class Honours and Master Degree in Electrical & Electronics Engineering under a government scholarship. He topped the cohort in Imperial Collegeand won the prestigious IEE Prize as well as the Sir Bruce White Prize. After his studies, he worked in the DSO National Laboratories and in 2001, he won the Defence Technology Prize (Team) for his contribution in wireless communications.

About mPayment Pte Ltd

mPayment is a specialist payment solutions provider, e-commerce enabler and e-marketing solutions company. It has a registered patent in mobile payment methodology covering mPurse, mDebit, mCredit and mP2P. mpayment's Multi-mode Payment Gateway (mPG) is a proven payment solution fully deployed on an extensive, secure and reliable multi-mode multi-bank multi-merchant payment infrastructure. Through its secure Credit Card Payment Gateway (CCPG), mPayment offers a complete one stop solution for accepting credit card payments. By aggregating merchants through CCPG, we provide an affordable and hassle free channel for credit card payments that is suited for all types of businesses, including retail store front, service providers and Internet merchants.

 For more information, visit www.2mpayment.com

About W3 Infocomm Group Pte Ltd
W3 Infocomm Group is an investment holding company with sterling track records in investing and raising subsequent round funding for start-ups and early stage companies. With some of its portfolio companies now actively in the process of M&A and IPO, W3's investment focus has shifted from what was primarily early stage investment in infocomm and media companies to quality investments in late stage, pre-IPO and pre-trade sales companies. Shareholders of W3 and its investee companies include Temasek Holdings (Pte) Ltd [via its 100% held Greendot Capital Pte Ltd], SingTel Group, Singapore Technologies Electronics Ltd, Gemplus-EDB Smart Labs Pte Ltd and PrimePartners Group, a US$300 million venture capital fund.

For more information, visit www.w3ig.com