KPay receives Singapore payments licence, adds online and POS services
The licence covers merchant acquisition and domestic and cross-border money transfers. KPay says it serves more than 10,000 merchants in Singapore.
KPay has received a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS), authorising merchant acquisition and money transfers domestically and across borders. Its subsidiary, KPay Merchant Service (Singapore) Pte. Ltd., holds the licence under the Payment Services Act 2019.
The approval follows MAS’s conditional in-principle clearance in July 2026. KPay began operating in Singapore in 2022 and says its local merchant base now exceeds 10,000, with food and beverage businesses and retailers making up most of that base.
Alongside its existing acceptance of in-store payments, KPay is introducing Online Payments for e-commerce, digital invoices and payments collected remotely. It is also launching KPay POS for Singapore’s food and beverage sector, bringing payments, inventory management and real-time business information together in a point-of-sale system.
KPay said it had invested in compliance, governance, risk management, technology and operations to support its regulated payments business. Its existing Singapore services include a merchant dashboard, transaction analytics and customer support.
Singapore is one of the group’s two headquarters. KPay said it would apply standards developed there to its Asia-Pacific expansion, with adjustments for each market’s laws and regulations. It also plans to expand its Singapore workforce and service capabilities as the business grows.
