KPay Receives In-Principle Approval for Major Payment Institution Licence in Singapore

KPay Merchant Service (Singapore) Pte. Ltd. secured in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution licence, the company announced on Jul 27, 2026. The licence, once fully granted, will allow KPay's Singapore subsidiary to offer merchant acquisition services and domestic and cross-border money transfers.

KPay noted that the in-principle approval does not constitute a licence to provide payment services at this stage. The company already serves over 10,000 small and medium enterprises in Singapore, concentrated in food and beverage and retail. KPay Group is headquartered in Hong Kong and services more than 95,000 merchants across the APAC region.