KPay Group has been granted a Major Payment Institution (MPI) Licence by the Monetary Authority of Singapore (MAS), enabling it to expand its payments and commerce ecosystem in the city-state. This development allows KPay to offer merchant acquisition, domestic money transfer, and cross-border money transfer services. The licence is a pivotal step for KPay, which has been operating in Singapore since 2022, serving over 10,000 merchants.
The MPI licence is part of a landmark month for KPay, which has also been ranked No. 1 on LinkedIn’s Top Startups 2026 list in Singapore and received Japan’s Good Design Award 2026. These accolades highlight KPay’s commitment to regulatory compliance, local talent, and product innovation, with Singapore as a strategic hub for its Asia-Pacific growth.
KPay is enhancing its merchant services by introducing online payment capabilities and a new Point of Sale (POS) system tailored for Singapore’s food and beverage sector. This integrated approach aims to streamline payment acceptance, inventory management, and business insights, offering merchants a cohesive platform for managing operations.
Davis Chan, CEO of KPay Group, stated, “Receiving the Major Payment Institution Licence from the Monetary Authority of Singapore is a defining moment for KPay.” Keith Chen, General Manager of Singapore, added, “We are deeply honoured to receive this Licence from the Monetary Authority of Singapore.”
KPay’s expansion in Singapore underscores its dedication to supporting local businesses and its ambition to grow across the Asia-Pacific region. The MPI licence sets a standard for KPay’s operations, reinforcing Singapore’s role as a central hub for its continued expansion.
