OxPay receives licence to offer e-money and account issuance

The fintech said it won’t have any material impact on the group’s financial statement this year.

The Monetary Authority of Singapore (MAS) has given OxPay SG a major payment institution licence to provide e-money and account issuance services. This allows the expansion of its services to include e-wallets, non-bank issued stored-value cards, and payment accounts storing e-money, as well as issuing e-money for transactions.

Presently, the group operates in Singapore, Malaysia, Indonesia, and Thailand.

ALSO READ: Payoneer SG obtains MPI licence, broadens services horizon

As it explores new markets for expansion, OxPay SG said these additional payment services are expected to help attract new customers.

It is anticipated that this approval will not have a significant impact on the group's earnings per share and net tangible assets per share for the financial year ending 31 December 2023.

Follow the link for more news on

MAS

A NOTE FROM SINGAPORE BUSINESS REVIEW

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia