Fiserv, a payment solutions provider for merchants in Singapore, announced that its local operating entity has been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore (MAS).
The license allows Fiserv to provide merchant acquisition services as well as domestic and cross-border money transfer services.
Fiserv provides end-to-end payment acceptance solutions for small businesses in Singapore as well as solutions for large enterprise clients.
The MPI license permits the continued offering of merchant acquiring services in Singapore and will allow Fiserv to support new payment flows for its clients including cross-border funds transfer services and real-time account transfers.
“Fiserv has a history of payments innovation in Singapore, and we are well-positioned and committed to expand our merchant acquiring business in the country and beyond, continuing to support the merchant community with robust and secure global payments technology enabling locally relevant payment acceptance solutions that meet the demands of today’s consumer,”
said Suhaib Khanyari, General Manager of ASEAN at Fiserv.