Worldline Secures Major Payment Institution Licence in Singapore, Grows Asian Presence

The global leader in payment services Worldline has received Major Payment Institution license by the Monetary Authority of Singapore (MAS), on the heels of Payment Institution Authorisation​ by the Financial Conduct Authority (FCA) in the United Kingdom.

With Major Payment Institution license, Worldline can perform domestic and cross-border payments, alongside merchant acquiring services in Singapore.

Worldline bagged the latest licence through its wholly owned subsidiary, GCS APAC, driving the company's ambitions to grow its presence not only in one of the most interesting markets in Asia but also into the wider, increasingly influential pan-Asian marketplace.

Worldline states that, beyond merchants, it is also working with a large network of leading banks in the APAC region. "Over 85% of banks in ASEAN countries are already using Worldline’s product portfolio in markets like Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, Brunei, Taiwan, Hong Kong and China," says the firm.

"As part of our regional expansion strategy, we are committed to playing a pivotal role in our Asian markets that are so rapidly gaining importance. I am very proud we have now been granted our new license from the Monetary Authority of Singapore, which ensures an even stronger foothold in Singapore and throughout our Asian markets," says Ms Beate Krugmann, Head of East & Southeast Asia at Worldline Merchant Services.