Shopline subsidiary, Instage Technology Pte Ltd., has secured in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence. This development enables Shopline to process payments directly for its extensive network of over 600,000 merchants, eliminating the need for third-party providers. The approval marks a significant step in Shopline’s expansion into regulated payments infrastructure, offering merchants lower fees, faster settlements, and the convenience of managing storefronts and payments on a single platform.
The MPI licence will allow Shopline to provide five regulated payment services, including Account Issuance Service, Domestic Money Transfer Service, Cross-Border Money Transfer Service, Merchant Acquisition Service, and E-Money Issuance Service. Raymond Hsu, Co-President of Shopline, stated, “This MPI licence is a key milestone in our global strategy. It highlights our commitment to meeting the highest regulatory standards whilst delivering secure, efficient, and borderless payment experiences for merchants.”
This move aligns with the ongoing trend of commerce platforms integrating licensed payments capabilities, further solidifying Singapore’s status as a regional fintech hub. By leveraging Singapore’s position, Shopline aims to empower merchants with seamless end-to-end payment solutions, facilitating international connections and accelerating cross-border growth.
Founded in 2013, Shopline is a leading Software-as-a-Service (SaaS) provider, offering a fully integrated platform for ecommerce, POS, social commerce, and more. With headquarters in Singapore and over 2,000 employees globally, Shopline continues to expand its regulatory presence in Asia and Australia, enhancing its offerings in the Asia-Pacific region.
