KPay secures MPI licence in Singapore

KPay is authorised to provide domestic and cross-border money transfer services.

KPay’s subsidiary KPay Merchant Service (Singapore) Pte Ltd. has secured a major payment institution (MPI) licence by the Monetary Authority of Singapore (MAS).

With the license, KPay is authorised to provide merchant acquisition, domestic money transfer, and cross-border money transfer services.

KPay established Singapore operations in 2022 and serves over 10,000 merchants locally.

KPay said it is expanding its merchant offering across both online and in-store commerce, and is introducing online payment capabilities for e-commerce transactions, digital invoicing, and remote payment collection.

KPay is also introducing a point of sale solution for the F&B sector.

KPay operates across Australia, Hong Kong, Japan, and Singapore.