OxPay receives licence to offer e-money and account issuance

The fintech said it won’t have any material impact on the group’s financial statement this year.

The Monetary Authority of Singapore (MAS) has given OxPay SG a major payment institution licence to provide e-money and account issuance services. This allows the expansion of its services to include e-wallets, non-bank issued stored-value cards, and payment accounts storing e-money, as well as issuing e-money for transactions.

Presently, the group operates in Singapore, Malaysia, Indonesia, and Thailand.

ALSO READ: Payoneer SG obtains MPI licence, broadens services horizon

As it explores new markets for expansion, OxPay SG said these additional payment services are expected to help attract new customers.

It is anticipated that this approval will not have a significant impact on the group's earnings per share and net tangible assets per share for the financial year ending 31 December 2023.

Follow the link for more news on

MAS

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit