KPay receives a Major Payment Institution licence from the Monetary Authority of Singapore

The Monetary Authority of Singapore has granted KPay a Major Payment Institution licence under the Payment Services Act 2019. The licence, held by subsidiary KPay Merchant Service (Singapore), authorises merchant acquisition, domestic money transfers and cross-border money transfers. MAS gave in-principle approval in July 2026, subject to conditions the company has now met.

KPay Group, headquartered in Hong Kong and Singapore, set up its Singapore operations in 2022 and serves more than 10,000 local merchants, mostly in food and beverage and retail, with a unified merchant dashboard and real-time transaction analytics.

Alongside the licence, KPay is adding Online Payments for e-commerce, digital invoicing and remote collection, and launching KPay POS, a point-of-sale system for restaurants that combines payment acceptance, inventory management and business insights.

CEO Davis Chan said the standards built for Singapore will support expansion across Asia-Pacific, adapted to each market's rules.