Singapore-based fintech startup Qashier has been awarded a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS).

The licence allows Qashier to provide merchant acquisition, payment processing, and domestic and international money transfer services.

This follows the company’s in-principle approval in mid-2024. With the licence, Qashier is now a regulated payment services provider in Singapore.

Founded in 2019, Qashier offers point-of-sale (POS) systems with embedded payment solutions and customer loyalty programs.

Its SuperTerminals enable merchants to manage operations, accept payments, and run loyalty programs on a single device.

The company reports processing over US$1 billion in transactions and supporting more than 12,000 businesses across Singapore, Malaysia, Thailand, and the Philippines.

“We are honoured to receive the Major Payment Institution licence from the Monetary Authority of Singapore, a milestone that reflects our commitment to the highest standards of regulatory compliance.

As Singapore continues to grow as a global hub for commerce and tourism, the licence empowers us to help more merchants serve local and international customers with ease.”

said Christopher Choo, Co-founder and CEO of Qashier.