SHOPLINE has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution license.
Once finalised, the license will allow the company to offer five regulated payment services, including account issuance, domestic and cross-border money transfers, merchant acquisition, and e-money issuance.
The approval will enable SHOPLINE to provide merchants with end-to-end payment services, from KYC verification and transaction processing to fund settlement, without fully relying on third-party providers.
The company said this will enable faster settlements, greater security, and multi-currency capabilities to support merchants’ cross-border growth.
The move builds on SHOPLINE’s existing regulatory presence in Asia and Australia, further strengthening its position in Asia-Pacific.
“This MPI license is a key milestone in our global strategy.
It highlights our commitment to meeting the highest regulatory standards while delivering secure, efficient, and borderless payment experiences for merchants.”
said Raymond Hsu, Co-President of SHOPLINE.
Featured image: Edited by Fintech News Singapore, based on image by sambathdara95 via Freepik
