PingPong Payments obtains major payment institution approval in Singapore

June 7, 2023 10:10 am

PingPong Payments, a global payment platform, has been granted a license by the Monetary Authority of Singapore (MAS) to function as a Major Payment Institution (MPI).

PingPong Payments is poised to revolutionize global business operations for e-commerce merchants and small to medium-sized enterprises (SMEs) by offering a comprehensive range of services. These services encompass account issuance, both local and cross-border remittances, as well as merchant acquiring.

The approval from the Monetary Authority of Singapore (MAS) adds yet another notable achievement to PingPong's list of accomplishments this year. This achievement joins their existing collection, which includes the Australian Financial Services License (AFSL) and the UK Electronic Money Institution (EMI) license.

Over the past few years, Southeast Asia has emerged as a thriving center for digital economy advancement, digital trade, and cross-border e-commerce, following the footsteps of Europe and the Americas.

PingPong Payments, as a dedicated cross-border payment platform catering to global digital trade, has proactively established a strong foothold in Southeast Asia. By strategically placing local branches and service teams in key locations such as Singapore, Jakarta, Ho Chi Minh City, Hanoi, Bangalore, Jaipur, and others, PingPong Payments has made a notable impact in the region. Additionally, the company has introduced an innovative local service plan specifically designed to meet the unique requirements of Southeast Asia.