Brankas Scores Payment Licenses in the Philippines, Indonesia
by Fintech News Singapore March 20, 2023Southeast Asian open finance platform Brankas announced that it has received payment licenses from Bank Indonesia (BI) and the Bangko Sentral ng Pilipinas (BSP).
The firm managed to secure the Payment Service Provider (PJP) Category 3 license in Indonesia and the Operator of Payment Systems (OPS) registration in the Philippines.
The payments licenses equip Brankas to offer end-to-end open finance infrastructure to its bank partners, from local and cross-border payments, to new banking-as-a-service solutions like account opening and card issuing.
With over 100 enterprise partners worldwide, Brankas’ payment APIs are used by companies offering e-wallets, online shopping checkout, lending services, insurance, and wealth management.
Todd Schweitzer
“We understand how important trust is to our customers, that’s why it is important that we hold ourselves to the highest standards of security. As a leading open finance company globally, Brankas owes it to our customers to not only demonstrate compliance to internationally recognised frameworks, but also to contribute to the evolving risk management framework for payment systems worldwide.”
said Todd Schweitzer, CEO and Co-founder of Brankas.
Husni Fuad
“Brankas is proud to obtain the PJP license, which confirms our commitment to data security and privacy for both our customers and partners. As we expand our list of embedded finance offerings to support our customers, we want to ensure that we provide the widest bank coverage in the country.”
said Husni Fuad, Country Manager of Brankas Indonesia.
