The Monetary Authority of Singapore (MAS) has granted KPay a Major Payment Institution (MPI) license.
The license, held by subsidiary KPay Merchant Service (Singapore) Pte. Ltd. under the Payment Services Act 2019, authorises KPay to provide merchant acquisition, domestic money transfer and cross-border money transfer services in Singapore.
MAS gave KPay in-principle approval for the license in July 2026, subject to the company meeting specified conditions.
KPay set up its Singapore operations in 2022 and now serves more than 10,000 local merchants, mostly in the F&B and retail sectors.
The company said it has invested in governance, risk management, compliance, technology and operations to run a regulated payments business at scale.
For those merchants, KPay will now provide acquiring and money transfer services as a licensed MPI while it widens its product range.
Online payments and a POS system for F&B
KPay is adding Online Payments to its existing in-store payment acceptance services. The new offering supports e-commerce transactions, digital invoicing and remote payment collection.
The company is also launching KPay POS, an integrated point of sale system for Singapore’s F&B sector. It combines payment acceptance, inventory management and real-time business insights in one platform.
Both products are designed to help merchants manage payments and operations across physical and digital channels. They are also expected to extend KPay’s reach to new merchant segments.
“A restaurant owner should be able to accept an online order as effortlessly as a walk-in, and focus on what matters most: delivering a great dining experience,”
said Keith Chen, General Manager of Singapore, KPay Group.
“A retailer should have their payments and business data all in one place.”
KPay’s existing Singapore offering includes a unified merchant dashboard, real-time transaction analytics and single-source business data, supported by 24/7 customer response, dedicated account managers and on-site technical deployment.
The KPay MPI license and Singapore’s role in its expansion
Singapore is one of KPay Group’s two headquarters.
The company said it will use the standards developed for its Singapore business to support expansion across APAC, adapting them to each market’s legal and regulatory requirements.
“Our ambition is to build a connected ecosystem that supports merchants in how they accept payments and run their businesses, whether online or in-store,”
said Davis Chan, Chief Executive Officer, KPay Group.
“Singapore will remain a key market for that development and an important hub for the capabilities that support KPay’s continued growth across Asia-Pacific.”
KPay said it plans to keep growing its Singapore team and service capabilities as the business scales.
Featured image credit: Edited by Fintech News Singapore, based on image by Bozo_Studio via Magnific
