{"id":16580,"date":"2025-01-10T14:25:56","date_gmt":"2025-01-10T07:25:56","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=16580"},"modified":"2025-01-10T14:25:56","modified_gmt":"2025-01-10T07:25:56","slug":"reap-receives-in-principle-approval-for-major-payment-institution-license-from-monetary-authority-of-singapore","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=16580","title":{"rendered":"Reap Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore"},"content":{"rendered":"\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

SINGAPORE<\/span><\/span>, Jan. 9, 2025<\/span><\/span> \/PRNewswire\/ — Reap<\/a><\/u>, a leading payment technology provider, is thrilled to announce today that it has received an In-Principle Approval (IPA) from the Monetary Authority of Singapore<\/span> (MAS) for its application of the Major Payment Institution (MPI) License for its Singapore<\/span> entity, Reap Singapore.<\/p>\n

\n

\"Reap<\/a>
Reap Receives IPA for MPI License in Singapore<\/span><\/p>\n<\/div>\n

Obtaining the IPA marks a significant milestone for Reap. Reap is committed to regulatory excellence while continuously enhancing its capabilities\u00a0and\u00a0presence\u00a0in\u00a0Singapore\u00a0and\u00a0the\u00a0broader Asia\u00a0Pacific\u00a0region. While\u00a0the\u00a0IPA\u00a0marks a critical step forward, Reap Singapore remains steadfast in meeting the required conditions for the\u00a0MPI\u00a0License. Reap\u00a0is\u00a0equally committed\u00a0to\u00a0dedicating\u00a0the\u00a0necessary resources\u00a0to\u00a0support\u00a0and\u00a0assist Reap\u00a0Singapore\u00a0in\u00a0achieving\u00a0this\u00a0goal.\u00a0Together,\u00a0Reap\u00a0and\u00a0Reap Singapore will continue to refine its compliance standards and beyond, ensuring it delivers enhanced value and trusted solutions to Singapore<\/span> and the broader APAC customers.<\/p>\n

“At Reap, compliance has always been paramount, not only to safeguard our users but also as a fundamental pillar for growth. Receiving this IPA from the MAS, a globally\u00a0renowned financial\u00a0regulator,\u00a0is\u00a0incredibly\u00a0motivating\u00a0and\u00a0will\u00a0be\u00a0a\u00a0key\u00a0driver of secure growth in the region. It fuels our enthusiasm to continue collaborating closely with regulatory bodies to shape a secure and efficient money movement across the region. Reap is also committed to building a strong payment service.” stated Kevin Kang<\/span>, Co-Founder of Reap.<\/p>\n

Singapore\u00a0is\u00a0integral\u00a0to\u00a0Reap’s\u00a0mission of\u00a0enhancing\u00a0global\u00a0money\u00a0movement. Its\u00a0high\u00a0regulatory standards and commitment to foster sustainable innovation align seamlessly with Reap’s vision for the future of payment services. This alignment empowers Reap to drive secure and efficient financial flows while delivering exceptional value to its clients and partners.<\/p>\n

About\u00a0Reap<\/b><\/p>\n

Reap<\/a><\/u> group is a leading global payment technology provider that enables financial connectivity and access for businesses worldwide. By bridging disparate economies, merging technological divides, and connecting key financial players, we are transforming the financial landscape into a more interconnected and interoperable space for efficient money movement.<\/p>\n

With\u00a0corporate cards,\u00a0payout\u00a0solutions,\u00a0and\u00a0expense\u00a0management\u00a0tools,\u00a0we\u00a0streamline\u00a0financial operations\u00a0and\u00a0empower businesses\u00a0to\u00a0scale. Our\u00a0APIs\u00a0enable businesses\u00a0to\u00a0embed finance\u00a0into their own products and services, from issuing Visa cards to facilitating cross-border payments.<\/p>\n

Founded\u00a0in\u00a02018\u00a0in\u00a0Hong\u00a0Kong, Reap\u00a0has\u00a0since expanded\u00a0to\u00a0a\u00a0team\u00a0of\u00a0over\u00a0100\u00a0across\u00a0the globe, including Singapore<\/span>. Reap is supported by a strong network of investors, including Acorn Pacific\u00a0Ventures,\u00a0Arcadia\u00a0Funds,\u00a0HashKey Capital,\u00a0Hustle\u00a0Fund, Fresco\u00a0Capital,\u00a0Abacus Ventures, and Payment Asia.<\/p>\n

For media\u00a0enquiries,\u00a0please contact:<\/p>\n

Christine Cheuk<\/span>
Marketing\u00a0&\u00a0PR\u00a0Manager,\u00a0Reap
christine@reap.global<\/a><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

SINGAPORE<\/span><\/span>, Jan. 9, 2025<\/span><\/span> \/PRNewswire\/ — Reap<\/a><\/u>, a leading payment technology provider, is thrilled to announce today that it has received an In-Principle Approval (IPA) from the Monetary Authority of Singapore<\/span> (MAS) for its application of the Major Payment Institution (MPI) License for its Singapore<\/span> entity, Reap Singapore.<\/p>\n

\n

\"Reap<\/a>
Reap Receives IPA for MPI License in Singapore<\/span><\/p>\n<\/div>\n

Obtaining the IPA marks a significant milestone for Reap. Reap is committed to regulatory excellence while continuously enhancing its capabilities\u00a0and\u00a0presence\u00a0in\u00a0Singapore\u00a0and\u00a0the\u00a0broader Asia\u00a0Pacific\u00a0region. While\u00a0the\u00a0IPA\u00a0marks a critical step forward, Reap Singapore remains steadfast in meeting the required conditions for the\u00a0MPI\u00a0License. Reap\u00a0is\u00a0equally committed\u00a0to\u00a0dedicating\u00a0the\u00a0necessary resources\u00a0to\u00a0support\u00a0and\u00a0assist Reap\u00a0Singapore\u00a0in\u00a0achieving\u00a0this\u00a0goal.\u00a0Together,\u00a0Reap\u00a0and\u00a0Reap Singapore will continue to refine its compliance standards and beyond, ensuring it delivers enhanced value and trusted solutions to Singapore<\/span> and the broader APAC customers.<\/p>\n

“At Reap, compliance has always been paramount, not only to safeguard our users but also as a fundamental pillar for growth. Receiving this IPA from the MAS, a globally\u00a0renowned financial\u00a0regulator,\u00a0is\u00a0incredibly\u00a0motivating\u00a0and\u00a0will\u00a0be\u00a0a\u00a0key\u00a0driver of secure growth in the region. It fuels our enthusiasm to continue collaborating closely with regulatory bodies to shape a secure and efficient money movement across the region. Reap is also committed to building a strong payment service.” stated Kevin Kang<\/span>, Co-Founder of Reap.<\/p>\n

Singapore\u00a0is\u00a0integral\u00a0to\u00a0Reap’s\u00a0mission of\u00a0enhancing\u00a0global\u00a0money\u00a0movement. Its\u00a0high\u00a0regulatory standards and commitment to foster sustainable innovation align seamlessly with Reap’s vision for the future of payment services. This alignment empowers Reap to drive secure and efficient financial flows while delivering exceptional value to its clients and partners.<\/p>\n

About\u00a0Reap<\/b><\/p>\n

Reap<\/a><\/u> group is a leading global payment technology provider that enables financial connectivity and access for businesses worldwide. By bridging disparate economies, merging technological divides, and connecting key financial players, we are transforming the financial landscape into a more interconnected and interoperable space for efficient money movement.<\/p>\n

With\u00a0corporate cards,\u00a0payout\u00a0solutions,\u00a0and\u00a0expense\u00a0management\u00a0tools,\u00a0we\u00a0streamline\u00a0financial operations\u00a0and\u00a0empower businesses\u00a0to\u00a0scale. Our\u00a0APIs\u00a0enable businesses\u00a0to\u00a0embed finance\u00a0into their own products and services, from issuing Visa cards to facilitating cross-border payments.<\/p>\n

Founded\u00a0in\u00a02018\u00a0in\u00a0Hong\u00a0Kong, Reap\u00a0has\u00a0since expanded\u00a0to\u00a0a\u00a0team\u00a0of\u00a0over\u00a0100\u00a0across\u00a0the globe, including Singapore<\/span>. Reap is supported by a strong network of investors, including Acorn Pacific\u00a0Ventures,\u00a0Arcadia\u00a0Funds,\u00a0HashKey Capital,\u00a0Hustle\u00a0Fund, Fresco\u00a0Capital,\u00a0Abacus Ventures, and Payment Asia.<\/p>\n

For media\u00a0enquiries,\u00a0please contact:<\/p>\n

Christine Cheuk<\/span>
Marketing\u00a0&\u00a0PR\u00a0Manager,\u00a0Reap
christine@reap.global<\/a><\/p>\n

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