Pyvio gains Singapore licence for five payment services
The approval took effect on 1 November and covers services including cross-border transfers and e-money issuance.
The Monetary Authority of Singapore (MAS) has granted a Major Payment Institution (MPI) licence to Pyvio’s Singapore operating entity, Pyvio Network Technology Pte. Ltd. The licence took effect on 1 November.
The approval covers five services: issuing accounts, transferring money domestically and across borders, merchant acquisition, and issuing e-money.
Pyvio said the licence gives it a basis to start regulated operations in Singapore while pursuing expansion across Asia-Pacific.
Li Kai, chief executive officer of Pyvio Singapore, said the company would make Singapore its base for serving businesses across the region with cross-border payment services. He described the country as connecting Asia-Pacific with international markets.
