Singapore’s Monetary Authority of Singapore has granted KPay Merchant Service (Singapore) Pte. Ltd. a Major Payment Institution licence under the Payment Services Act 2019. The approval allows the KPay subsidiary to conduct merchant acquisition, domestic money transfer and cross-border money transfer services. MAS had issued in-principle approval in July 2026 before granting the full licence after regulatory conditions were met. Unlike a Standard Payment Institution licence, the major institution licence does not carry monthly transaction volume caps, but it brings stricter base capital and customer-fund safeguarding requirements. KPay, which entered Singapore in 2022 and serves more than 10,000 local merchants, has also launched Online Payments for e-commerce, digital invoicing and remote collection, alongside KPay POS for food and beverage businesses. The group says it plans to use Singapore as a base for expanding cross-border payment operations across Asia-Pacific. The licence covers its specified Singapore activities; the regional expansion remains a stated plan.