Payoneer SG obtains MPI licence, broadens services horizon

The licence will enable them to service more SMEs in the country.

Payoneer Singapore, a subsidiary of Payoneer Global, has obtained a Major Payment Institution License from the Monetary Authority of Singapore (MAS). 

This licence allows Payoneer Singapore to broaden its offerings and introduce new services in Singapore, including account issuance, cross-border and domestic money transfers, e-money issuance, and merchant acquisition. 

The licence approval came after a thorough application and review process, demonstrating Payoneer Singapore's compliance with MAS regulations and standards. 

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This license also enables Payoneer Singapore to expand in Singapore by welcoming new partners and facilitating higher-value transactions for small and medium-sized (SMEs) businesses.