BigPay, a SEA fintech, announced that it has added three new services to its major payment Institution license, issued by the Monetary Authority of Singapore
License for account issuance, money transfer, e-money issuance
Under the Payment Services Act 2019, BigPay said it is licensed as a MPI to carry on the business of cross-border money transfer service, and now, account issuance service, domestic money transfer, and e-money issuance. The firm said it currently holds four out of seven seven key regulated activities under the licensing framework.
“The new services will continue to fuel our growth, allowing us to double-down on our mission of improving our customers’ financial wellbeing and helping Singaporeans maintain control of their finances”, he said.
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