Payments

Payoneer Secures In-Principle Approval From MAS to Expand Payment Offerings

Payments firm Payoneer announced that it has received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS).

Through this license, Payoneer will soon be able to offer additional payments services such as mass payout and card offerings to companies located in Singapore.

Payoneer currently has licenses or registrations in the United States, Europe, Hong Kong, Japan, Australia and India.

Nagesh Devata

“The nod of approval from Singapore’s MAS is testament to Payoneer’s dedication to building a highly secure and effective platform to provide the best services we could to our customers.

We are honored to receive in-principle approval and look forward to a fruitful partnership with MAS to advance Singapore’s Smart Nation ambitions.”

said Nagesh Devata, SVP, Asia-Pacific at Payoneer.

Tsafi Goldman

“The MAS sets a high regulatory bar and has been very thorough and constructive throughout the application process.

Our customers can be assured that Payoneer Singapore is operating in a highly regulated and conducive market.”