SHOPLINE has received a Major Payment Institution licensce from Singapore’s central bank, allowing it to provide regulated payment services in Singapore.

The license was granted to Instage Technology, a subsidiary of the commerce software provider, by the Monetary Authority of Singapore.

It allows the company to offer account issuance, domestic and cross-border money transfer, merchant acquisition and e-money issuance services.

The approval gives SHOPLINE a regulated base in Singapore to support payment services for more than 600,000 merchants worldwide.

SHOPLINE said the license strengthens its ability to deliver secure and compliant payment services, supported by governance, compliance and operational systems, with further enhancements underway.

The approval also supports deeper integration of payments within SHOPLINE’s commerce platform, including broader payment options, multi-currency support, more reliable checkout experiences and stronger safeguards around fund security.

It also lays the groundwork for embedded financial services such as expense management, automated payment flows and bill management.

“The MPI license marks an important milestone for SHOPLINE. It strengthens our ability to support merchants in growing their global presence and reaching customers across borders.

With the license, we can partner with more global payment and financial institutions to build a suite of embedded financial solutions that help merchants manage and utilise their funds more effectively, empowering them to scale their businesses with greater confidence.”

said Kimi Gong, Deputy GM of Payments, SHOPLINE.

The Singapore license adds to SHOPLINE’s regulatory approvals in other markets, including a Money Service Operator license in Hong Kong, registration with Australia’s financial intelligence agency AUSTRAC and an energy listing with Taiwan’s Ministry of Digital Affairs.

Featured image: Edited by Fintech News Singapore, based on image by Freepik