KPay Granted Major Payment Institution (MPI) Licence by the Monetary Authority of Singapore (MAS), Expanding its Payments and Commerce Ecosystem in Singapore

[15 OCTOBER 2026], SINGAPORE — KPay Group (”KPay”), one of the fastest-growing fintech companies serving more than 100,000 merchants across Asia-Pacific and ranked No. 1 on LinkedIn Top Startups 2026 - Singapore, today announced that its Singapore subsidiary, KPay Merchant Service (Singapore) Pte. Ltd., has been granted a Major Payment Institution (MPI) Licence by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019.

The licence marks an important milestone in KPay’s growth in Singapore and provides the regulatory foundation for the next phase of its payments and commerce ecosystem. Since establishing its local operations in 2022, KPay has grown to serve more than 10,000 Singapore merchants while investing in the governance, risk management, compliance, technology and operational capabilities needed to support a regulated payments business at scale. With the MPI licence, KPay is authorised to provide merchant acquisition, domestic money transfer and cross-border money transfer services in Singapore.

A Mark of KPay’s Investment in Singapore Talent

KPay has been named to LinkedIn Top Startups 2026 - Singapore, ranking No. 1 amongst only 10 companies selected across the city. This marks KPay’s first appearance on the list.

The ranking is compiled entirely from LinkedIn platform data across four pillars: employment growth, engagement, job interest, and the ability to attract talent from leading global companies, covering the period from 1 July 2025 to 30 June 2026. To be eligible, companies must be fully independent, privately held, and headquartered in Singapore, with 30 or more full-time employees and no older than seven years.

The recognition reflects the strength of KPay’s growth as an employer, and its investment in local talent and innovation, which will support the next phase of KPay’s growth in Singapore while strengthening its position as a strategic hub for expansion across Asia-Pacific.

Expanding Merchant Ecosystem: Online Payments and an all-new Point of Sale

As part of the next phase of its growth in Singapore, KPay is expanding its merchant offering across both online and in-store commerce. The Group is introducing Online Payments capabilities to support e-commerce transactions, digital invoicing and remote payment collection, complementing its existing in-store payment acceptance capabilities.

KPay is also introducing KPay POS, its integrated Point of Sale solution for Singapore’s F&B sector, bringing payment acceptance, inventory management and real-time business insights together in one platform. Together, these capabilities are designed to give merchants a more connected way to manage payments and business operations across physical and digital channels, bringing payments, Point of Sale and business management tools together within a more integrated ecosystem.

KPay expects the expanded ecosystem to support the next phase of its growth in Singapore by extending its capabilities to new merchant segments and increasing the range of solutions available across the merchant lifecycle.

Locally Built, Merchant Driven

KPay serves more than 10,000 local merchants, particularly in the F&B and retail sectors. Its holistic commerce ecosystem now combines in-store payment, Point of Sale systems, and merchant intelligence tools, including a unified dashboard, real-time transaction analytics, and single-source business data. Complementing these is live human support, including 24/7 response, dedicated account managers, and on-site technical support and deployment.

KPay’s Singapore team remains focused on building practical, merchant-friendly solutions around the needs of local businesses. KPay is invested in Singapore’s digital economy and committed to growing its local team, nurturing local talent, and expanding its service capabilities as the business scales.

The Licence That Sets the Standard

Singapore is one of KPay Group’s dual headquarters and remains central to the Group’s long-term growth strategy. KPay continues investing in its Singapore business, local talent and product capabilities while using the experience and standards developed here to support its wider expansion across Asia-Pacific and beyond. The MPI Licence confirms the rigour of those foundations and establishes Singapore as the natural springboard for KPay’s continued expansion.

In each jurisdiction KPay enters, these standards are adapted to local legal requirements, regulatory expectations, and market conditions. The discipline Singapore demands is the discipline KPay delivers everywhere it operates.

Award-Winning Design in the Hands of Singapore Merchants

KPay has also been recognised with the Good Design Award 2026 (グッドデザイン賞 2026年度受賞), presented by the Japan Institute of Design Promotion for its KPay payment experience, the pay-in ecosystem. One of the Big Four design awards on the global stage and marked by the iconic G Mark, it stands alongside the world’s most prestigious design honours in recognising products that make a genuine difference to how people live and work.

For KPay, it stands as a statement of intent: that the merchants of Singapore are not just served by a regional financial technology group, but by one that builds to the highest global standard. World-class design is not an aspiration for KPay in Singapore. It is the baseline.

Davis Chan, Chief Executive Officer, KPay Group, said:

“Receiving the Major Payment Institution Licence from the Monetary Authority of Singapore is a defining moment for KPay, one that reflects years of disciplined investment in our regulatory, operational, and technology capabilities. This is not just a licence. It is proof of what we have built in Singapore and the foundation from which we will continue to grow.”

“Our ambition is to build a connected ecosystem that supports merchants in how they accept payments and run their businesses, whether online or in-store. Singapore will remain a key market for that development and an important hub for the capabilities that support KPay’s continued growth across Asia-Pacific.”

Keith Chen, General Manager of Singapore, KPay Group, said:

“We are deeply honoured to receive this Licence from the Monetary Authority of Singapore. It reflects the trust MAS and merchants have placed in us and the standards our team has worked hard to uphold. Being ranked No. 1 on LinkedIn Top Startups 2026 - Singapore at this same moment speaks to the people behind that work. It is a recognition of the team we have built in Singapore, and one we are incredibly proud of.”

“Riding on this momentum, we are introducing Online Payments and our Point of Sale System offering because that is what Singapore merchants need from us right now. A restaurant owner should be able to accept an online order as effortlessly as a walk-in, and focus on what matters most: delivering a great dining experience. A retailer should have their payments and business data all in one place. These are the things we are here to build, and we are committed to going further for every merchant who has placed their trust in us.”

About KPay

KPay Group (“KPay”) is one of the fastest-growing fintech companies in Asia-Pacific, committed to empowering businesses of all sizes through simple, seamless, smart and secure technology solutions. Serving more than 100,000 merchants across Australia, Hong Kong, Japan, and Singapore, KPay helps unlock growth potential by building a one-stop platform for financial management, business operations, and digital transformation.

In 2024, KPay raised a record-breaking USD 55 million in its Series A funding round, the largest in the global payments sector that year.

Globally, KPay has been recognised as one of CNBC and Statista’s “World’s Top Fintech Companies 2026” and has received the “Good Design Award 2026”, presented by the Japan Institute of Design Promotion.

Across Asia-Pacific, in 2025, KPay was selected for the “Forbes Asia 100 to Watch” list and named “PayTech of the Year” at the Asia FinTech Awards. In Singapore, KPay has been ranked #1 on LinkedIn Top Startups 2026 - Singapore, and listed among “Singapore’s Top FinTech Companies 2026” by Tech in Asia and Statista.

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