TerraPay obtains MPI License in Singapore

TerraPay now has 11 licenses and 19 regulator approvals across 30 markets.

Payment solutions firm TerraPay has obtained a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS).

The licence allows TerraPay to offer services across account issuance, domestic and cross-border money transfers, merchant acquisition, and e-money issuance within the region.

The company also stated that the MPI licence will enable them to develop new and existing partnerships whilst accelerating its presence in the APAC region.

Currently, TerraPay has 11 licences and 19 regulatory approvals amongst 30 global markets.