TerraPay, a company specialising in global cross-border payments, has recently been granted a Major Payment Institution (MPI) License by the Monetary Authority of Singapore (MAS). This development is part of TerraPay’s ongoing expansion, contributing to its portfolio of 11 licenses and 19 regulatory approvals across 30 international markets.
The license was awarded following a comprehensive application and evaluation process by MAS. With the MPI License, TerraPay is poised to enhance its service offerings in Singapore and beyond, including Account Issuance, Domestic and Cross-border Money Transfers, Merchant Acquisition, and E-money Issuance. This expansion aims to meet the increasing demand for efficient and transparent payment solutions within the region.
Sheshagiri Malliah, managing director of TerraPay Singapore PTE, remarked on the achievement, emphasising its significance for the company’s growth and commitment to regulatory compliance and service transparency. He highlighted the company’s focus on developing strategic partnerships and innovative solutions to facilitate global financial transactions.
Singapore’s role as a central hub for international trade and finance is noted as a strategic advantage for TerraPay. The company plans to use this opportunity to fortify and establish new partnerships, enhancing its presence in the Asia-Pacific region.
The Payments Association
St Clement’s House
27 Clements Lane
London EC4N 7AE
© Copyright 2024 The Payments Association. All Rights Reserved. The Payments Association is the trading name of Emerging Payments Ventures Limited.
Emerging Ventures Limited t/a The Payments Association; Registered in England and Wales, Company Number 06672728; VAT no. 938829859; Registered office address St. Clement’s House, 27 Clements Lane, London, England, EC4N 7AE.
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
