Lates News

SHOPLINE announced that its subsidiary, Instage Technology Pte Ltd, has obtained the in-principle approval (IPA) from the Monetary Authority of Singapore (MAS) and is expected to obtain a Major Payment Institution (MPI) license. If granted final approval, SHOPLINE will be able to provide five regulated payment services in Singapore, including account opening, local and cross-border remittance, merchant expansion, and electronic currency issuance. SHOPLINE is a global retail solutions provider that was strategically invested in by the Joy Spreader Group in 2019, offering a one-stop solution for global brand sellers. The in-principle approval signifies a key milestone for SHOPLINE Payments in terms of regulatory compliance. It is stated that SHOPLINE Payments has already established a comprehensive governance, compliance, and operational infrastructure. After obtaining the payment institution license, SHOPLINE will be able to offer merchants more competitive pricing, faster settlement speeds, and enhance transaction security and user experience. Additionally, the ability to support multiple currencies will help merchants achieve true global business coverage. (Sina Technology).