MAS grants Atome in-principle approval to be a Major Payment Institution

Atome can now perform regulated payment services in Singapore.

Atome has received in-principle approval from the Monetary Authority of Singapore to operate as a Major Payment Institution or MPI under the Payment Services Act 2019.

Under its new license, Atome can now perform regulated payment services, such as account issuance, domestic and cross-border money transfers, and even merchant acquisition services in Singapore.

Leanne Lim, Atome’s regional head of compliance said that it is an immense privilege to be granted an IPA. 

“This validates the work our team has been putting into building our compliance infrastructure and we will further strengthen existing frameworks by continuously monitoring emerging risks and regulations. In the coming months, we look forward to working closely with the MAS, our merchant partners and our consumers to achieve desirable outcomes for the payment ecosystem,” Lim said.