Payment services: Merchant acquisition

What licence must I obtain to provide a merchant acquisition service?


  • According to MAS (Pages) and (Pages),
    last revised 26 June 2020

    The licence required depends on the following financial thresholds:

    Licence Type  Description
    Standard Payment Institution License

    Are able to conduct multiple payment services. Subject to the following thresholds:

    • ≤S$3m monthly transactions for any activity type.
    • ≤S$6m monthly transactions for 2 or more activity types.
    • ≤S$5m of daily outstanding e-money for e-money issuance services.
    Major Payment Institution License

    Are able to conduct multiple payment services. Subject to the following thresholds:

    • >S$3m monthly transactions for any activity type.
    • >S$6m monthly transactions for 2 or more activity types.
    • >S$5m of daily outstanding e-money for e-money issuance services.