Payoneer announced that it has received in-principal approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS).
Through this license, Payoneer will soon be able to offer additional payments services such as mass payout and card offerings to companies located in Singapore.
Payoneer currently has licenses or registrations in the United States, Europe, Hong Kong, Japan, Australia, and India.
The nod of approval from Singapore’s MAS is testament to Payoneer’s dedication to building a highly secure and effective platform to provide the best services.
The MAS sets a high regulatory bar and has been very thorough and constructive throughout the application process.