Payoneer Lands a Payment License in Singapore!
Payoneer, a leading global payment platform, has secured a big payment institution license in Singapore, helping it to empower small and medium-sized enterprises (SMEs) with seamless cross-border payment solutions. The license, granted by the Monetary Authority of Singapore (MAS), marks an incredible milestone for Payoneer as it expands its presence in the Asia-Pacific region.
With this license, Payoneer Singapore can now offer its customers a broader range of financial services, including currency exchange, remittance, and merchant acquisition services. This development positions Payoneer as a trusted partner for SMEs in Singapore, providing them the tools they need to grow their businesses globally.
The payment institution license from MAS demonstrates the regulatory authority’s recognition of Payoneer’s commitment to compliance and its ability to meet the highest standards of financial services. Payoneer’s robust infrastructure, advanced technology, and stringent security measures ensure businesses can rely on its platform for secure and efficient cross-border transactions.
Scott Galit, CEO of Payoneer, expressed his excitement about the license, stating, “We are thrilled to have received this payment institution license from MAS. It is a testament to our dedication to empowering SMEs and facilitating global growth. Singapore is a vibrant hub for businesses, and we are honored to be able to support the local SME community in their international ventures.”
The license comes when Singapore SMEs actively seek to expand their operations globally. By partnering with Payoneer, these businesses access a comprehensive suite of payment solutions that simplify cross-border transactions, eliminate currency barriers, and reduce transaction costs.
Payoneer’s presence in Singapore benefits local businesses and strengthens the country’s position as a global financial hub. As more SMEs leverage Payoneer’s services, Singapore’s reputation as a business-friendly destination with a robust ecosystem for international trade is further enhanced.
The payment institution license also underscores Payoneer’s commitment to supporting the growth of SMEs worldwide. Payoneer empowers these businesses to compete globally, expand their customer base, and seize new market opportunities by providing them with the necessary financial tools and services.
With the new license in Singapore, Payoneer is well-positioned to drive the digital transformation of cross-border payments, making it easier, faster, and more cost-effective for SMEs to conduct international business. Payoneer’s expansion in Singapore is a significant step towards fostering economic growth and empowering SMEs in the Asia-Pacific region as the global economy becomes increasingly interconnected.