KPay clinches in-principle approval for MPI licence in Singapore

The company serves over 95,000 merchants in the APAC region.

KPay Merchant Service (Singapore) Pte. Ltd. has secured in-principle approval from the Monetary Authority of Singapore (MAS) for a major payment institution license.

The approval will enable KPay’s Singapore subsidiary to offer a broader range of payment services in Singapore, including merchant acquisition, as well as domestic and cross-border money transfers, the company said in a statement on 27 July 2026.

KPay said that it already serves over 10,000 small and medium enterprises (SMEs) in Singapore, particularly in the food and beverage (F&B) retail sectors.

KPay Group is headquartered in Hong Kong. It services over 95,000 merchants across the APAC region.

An IPA does not constitute a licence for KPay Merchant Service (Singapore) Pte Ltd to provide payment services at this juncture, KPay said.