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Global payments provider EBANX has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This milestone will enable the company to offer cross-border money transfers and merchant acquisition services in Singapore, further expanding its global footprint.
Strengthening Regulatory Compliance and Expansion Plans
EBANX CEO and Co-founder João Del Valle emphasized that securing this approval reflects the company’s commitment to meeting top-tier regulatory standards. The license, once fully granted, will enhance EBANX’s ability to provide more comprehensive payment solutions to its clients.
“This moment marks another chapter of EBANX’s success in the APAC region and a significant step forward in our global expansion strategy. It builds upon our strong operations in Latin America, Africa, and India, solidifying our position as a trusted partner for businesses in emerging markets,” Del Valle stated.
With 39% of its total processed volume in 2024 originating from the Asia-Pacific (APAC) region, EBANX sees this regulatory approval as a key accelerator for its expansion in Asia.
Driving Innovation in Emerging Markets
Beyond its APAC growth, EBANX continues to innovate in Latin America and other emerging markets. In October 2024, the company enabled Canva, a global visual communication platform, to offer localized payment options in six Latin American countries. Through EBANX’s infrastructure, Canva expanded its software-as-a-service (SaaS) business in the region by integrating digital wallets, instant payments, and various card payment options.
Additionally, EBANX is at the forefront of developments in Brazil’s evolving payments landscape. The company has prepared merchants to integrate Pix Automático, Brazil’s upcoming recurring payment feature under the country’s Pix instant payment system. Through its technical documentation and API simulations, EBANX is equipping partners to seamlessly adopt Pix Automático upon its launch.
Conclusion
With its In-Principle Approval from MAS, EBANX is poised to further expand its global operations while reinforcing its expertise in emerging markets. As the company continues innovating across Latin America, Africa, India, and now APAC, it remains committed to delivering cutting-edge payment solutions that empower businesses worldwide.
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