Standard Payment Institution Licence

Apply for Standard Payment Institution Licence

Monetary Authority of Singapore (MAS)

For Business Users only

This licence is only for business users with a registered Unique Entity Number (UEN).

Apply on MAS

Application Details

Standard payment institutions are licensed and regulated under the Payment Services Act ("PS Act") to provide payment services below the specified thresholds.

The thresholds are set out in section 6(5) of the PS Act. In summary, these are:
i. S$3 million monthly transactions for any payment service (other than e-money account issuance and money-changing services).
ii. S$6 million monthly transactions for two or more payment services (other than e-money account issuance and money-changing services).
iii. S$5 million of daily outstanding e-money

Note that entities that provide only money-changing services should hold a money-changing licence instead. Entities that provide payment services above the specified thresholds must hold a major payment institution licence.