WhatsApp and Telegram +44 7563 115980
[email protected]
Regional payment hubs, cross-border transfer operators, acquirers and digital payment token providers serving Asia from Singapore hold this licence once volumes pass the standard thresholds.
Selected engagements from more than 250 licences obtained since 2013, for payment, e-money and cryptoasset firms.
Volkswagen
Payment InstitutionObtained Nexpay’s FCA Authorised Payment Institution licence.
Electronic Money InstitutionObtained Dzing Finance’s FCA Authorised Electronic Money Institution licence.
Obtained Orbital’s FCA Authorised Payment Institution licence.
Our realistic timeline from submission to decision.
Safeguarding, operating and settlement accounts opened alongside the application, so you trade on authorisation.
We assemble your team: a Singapore-resident executive director.
The licence, the requirements, the cost and the timing for your business.
You will need at least one executive director who is a Singapore citizen or permanent resident, or one on an employment pass alongside another resident director.
One programme, from scoping to launch. Speak to an expert about this licence.
Requirements, capital, timing, fees and common questions, drawn from the regulator’s own publications.
A firm whose average monthly payment transactions exceed S$3 million for any one service or S$6 million across two or more, or whose average daily e-money float exceeds S$5 million, must hold a major payment institution licence. It is the licence for regional payment hubs, cross-border money transfer operators, acquirers and digital payment token service providers serving Asia from Singapore. Smaller firms hold the standard payment institution licence.
| Requirement | Amount |
|---|---|
| Base capital | S$250,000 plus buffer |
| Security deposit | S$100,000 where monthly transactions do not exceed S$6 million for any service; S$200,000 otherwise |
| Thresholds that require the MPI licence | S$3 million a month for one service; S$6 million for two or more; S$5 million average daily e-money float |
The buffer above base capital is set by the MAS against the scale, scope and profit or loss potential of the business.
| Figure | Value | Source |
|---|---|---|
| Statutory decision period | No statutory period | Payment Services Act 2019 |
| Regulator’s published figure | Estimated waiting period of more than a year because of application volume | MAS, how to apply for a payment service provider licence |
| Application preparation | 6 to 8 weeks | From instruction to submission, including banking in parallel |
| Our realistic timeline | 12 to 15 months after submission | Our own figure, from the regulator’s published data and our applications |
Regulator figures are quoted as published and converted to months. Our realistic timeline assumes a complete, well-prepared application.
| Item | Amount | Notes |
|---|---|---|
| Application fee | S$1,500 or the sum of per-service fees | S$1,500 per service; account issuance S$0; money-changing S$500; non-refundable |
| Annual licence fee | Per service | Set in the payment services regulations |
| Base capital | S$250,000 | Plus buffer |
| Security deposit | S$100,000 or S$200,000 | Lodged with the MAS before commencement |
| Professional fees | Fixed | Quoted after scoping |
The licence covers Singapore. Groups serving several Asian markets pair it with a Hong Kong stored value facility or money service operator licence and local licences elsewhere; we obtain each.
The MAS cites the volume of applications for its waiting period and assesses each application on its merits: track record, financial condition, operational readiness, the holding company’s commitment to the Singapore operation, home-state supervision and the public interest. In our experience the applications that move through the queue are those with controllers assessed in advance, a business plan the MAS can test and technology readiness evidenced before filing.
A payment institution needs a safeguarding account, an operating account and settlement accounts in the currencies it serves. We open each alongside the application, so you trade from authorisation. See banking and payment processing.
There is no statutory period. The MAS states that the estimated waiting period is more than a year because of application volume; we plan for twelve to fifteen months after submission.
S$100,000 where average monthly transactions stay within S$6 million for every service, S$200,000 otherwise, lodged with the MAS as cash or a bank guarantee before business begins.
Yes: at least one executive director who is a citizen or permanent resident, or one on an employment pass together with another citizen or permanent resident director.
Yes. Digital payment token services are one of the seven services; the MAS applies additional requirements to them.
Only within the exemptions, or through a licensed partner’s programme. We arrange programme access where you need to trade sooner.
A regulatory advisory firm to payment, e-money and cryptoasset companies since 2013, with more than 250 licences obtained in more than 60 countries. The firm builds licensed payment, e-money, crypto and stablecoin businesses: the licence, the team, the technology, the bank accounts and card issuing.
This guide is general information, not legal advice. Requirements and fees change, and the regulator’s own publications take precedence.
The licence, your team, banking and technology, delivered as one programme.