Major Payment Institution Licence / Singapore / PS Act

Payment Services Act 2019 · supervised by Monetary Authority of Singapore · SG Singapore

CapitalSGD 250,000 source

Granted activities

by client type

ActivityCONSUMERSMECORPORATEREG. FIVIA INTERMED.

Issue electronic money Full Full Full None Full

Execute payment transactions (direct debits, card payments, credit transfers)MPI licence removes the transaction-volume ceilings that apply to SPI Conditional Conditional Conditional None Conditional

Money remittance Full Full Full None Full

Acquire card-based payment transactions (card acquiring) None Full Full None Full

Exchange crypto-assets for funds Full Full Full Full None

Provide transfer services for crypto-assets on behalf of clients Full Full Full Full None

Conditional: the grant carries the conditions listed under the activity.

Requirements

Minimum capitalSGD 250,000 source

Passporting reach

This regime does not passport into other jurisdictions.

Holders

3 in this corpus

CompanyRegister idStatus

Nium Pte LtdPS20200276register · look up PS20200276Aauthorised

Airwallex (Singapore) Pte LtdMAS PS20200541register · look up MAS PS20200541Aauthorised

Wise Asia-Pacific Pte. Ltd.no datasource text changedAauthorised

Products unlocked

Crypto off-ramp (crypto to fiat payout)1 marketconsumer · sme · corporate

Crypto on-ramp (fiat to crypto)1 marketconsumer · sme · corporate

Merchant collections1 marketsme · corporate · via-intermediary

Derived business models

Computed from granted activities × permitted client types × passporting mode — not an opinion label.

B2CCONSUMER · 5 activities granted

B2BSME +1 · 6 activities granted

B2B2BREG. FI · 2 activities granted

Open questions on this regime

No open questions recorded against this regime.

Resolved coverage in singapore

COVERED

Singapore6

Acquire cards

own licenceSME · corporate · via intermediaryhypothetical

Crypto exchange for funds

own licenceconsumer · SME · corporate · regulated FIhypothetical

Crypto transfer services

own licenceconsumer · SME · corporate · regulated FIhypothetical

Execute payment transactions

own licenceconsumer · SME · corporate · via intermediaryconditionalhypothetical

Issue emoney

own licenceconsumer · SME · corporate · via intermediaryhypothetical

Money remittance

own licenceconsumer · SME · corporate · via intermediaryhypothetical

UNVERIFIED — CLAIMED, NOT TRACEABLE TO A LICENCE

No unverified rows.

Need this implemented in your product?

I turn requirements like these into flows, vendor setups, tests and audit evidence.

Regime: Major Payment Institution Licence / Singapore / PS Act

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