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Singapore approves Payment Options Pte Ltd’s fintech license in principle for digital payments and money transfers.
Payment Options Pte Ltd, a Singapore-based fintech, has received in-principle approval from the Monetary Authority of Singapore for a Major Payment Institution licence under the Payment Services Act 2019.
The approval, pending fulfillment of conditions and no material adverse changes, would allow the company to offer merchant acquisition, domestic and cross-border money transfers.
If licensed, it plans to support SMEs with digital payment tools like online gateways, QR payments, and SoftPOS technology.
The move advances Singapore’s goal of a secure, inclusive, cash-lite economy.
The approval does not yet permit service provision.
Singapur aprueba la licencia de fintech de Payment Options Pte Ltd. en principio para pagos digitales y transferencias de dinero.