Reap Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore - Thailand PR News - [Banking](https://thailandbusinessnews.net/category/banking/) - [Companies](https://thailandbusinessnews.net/category/companies/) - [Economy](https://thailandbusinessnews.net/category/economy/) - [Press Releases](https://thailandbusinessnews.net/category/press-release/) - [PR Newswire](https://thailandbusinessnews.net/pr-newswire-updates/) - [Tech](https://thailandbusinessnews.net/category/tech/) - [Tourism](https://thailandbusinessnews.net/category/tourism/) - [Press Release](https://thailandbusinessnews.net/category/press-release/) # Reap Receives In-Principle Approval for Major Payment Institution License from Monetary Authority of Singapore ##### Up next ###### [Mirae Asset Launches Global X G2 Tech ETF (3402): Investing in the Future of Technology](https://thailandbusinessnews.net/press-release/mirae-asset-launches-global-x-g2-tech-etf-3402-investing-in-the-future-of-technology/) Published on 10 January 2025 ##### Author ##### [ CISION PRNewswire ](https://thailandbusinessnews.net/author/cision/) ##### Tags - [PRNewswire](https://thailandbusinessnews.net/tag/prnewswire/) ![](https://mma.prnasia.com/media2/2594474/Reap_Logo.jpg?p=medium600 "logo") SINGAPORE, Jan. 9, 2025 /PRNewswire/ — [Reap](https://reap.global/?utm_source=google&utm_medium=referral&utm_campaign=brand&utm_content=pr), 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 (MAS) for its application of the Major Payment Institution (MPI) License for its Singapore entity, Reap Singapore. [![Reap Receives IPA for MPI License in Singapore](https://mma.prnasia.com/media2/2594473/Reap_Receives_IPA_MPI_License_Singapore.jpg?p=medium600 "Reap Receives IPA for MPI License in Singapore")](https://mma.prnasia.com/media2/2594473/Reap_Receives_IPA_MPI_License_Singapore.html)Reap Receives IPA for MPI License in Singapore Obtaining the IPA marks a significant milestone for Reap. Reap is committed to regulatory excellence while continuously enhancing its capabilities and presence in Singapore and the broader Asia Pacific region. While the IPA marks a critical step forward, Reap Singapore remains steadfast in meeting the required conditions for the MPI License. Reap is equally committed to dedicating the necessary resources to support and assist Reap Singapore in achieving this goal. Together, Reap and Reap Singapore will continue to refine its compliance standards and beyond, ensuring it delivers enhanced value and trusted solutions to Singapore and the broader APAC customers. "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 renowned financial regulator, is incredibly motivating and will be a key driver 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, Co-Founder of Reap. Singapore is integral to Reap’s mission of enhancing global money movement. Its high regulatory 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. About Reap [Reap](https://reap.global/?utm_source=google&utm_medium=referral&utm_campaign=brand&utm_content=pr) 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. With corporate cards, payout solutions, and expense management tools, we streamline financial operations and empower businesses to scale. Our APIs enable businesses to embed finance into their own products and services, from issuing Visa cards to facilitating cross-border payments. Founded in 2018 in Hong Kong, Reap has since expanded to a team of over 100 across the globe, including Singapore. Reap is supported by a strong network of investors, including Acorn Pacific Ventures, Arcadia Funds, HashKey Capital, Hustle Fund, Fresco Capital, Abacus Ventures, and Payment Asia. For media enquiries, please contact: Christine CheukMarketing & PR Manager, Reap [Source link ](https://www.prnasia.com/story/archive/4592642_AE92642_0?rand=89749) ``` This content was prepared by our news partner, Cision PR Newswire. The opinions and the content published on this page are the author’s own and do not necessarily reflect the views of Siam News Network ``` ##### You May Also Like [](https://thailandbusinessnews.net/press-release/vipshop-to-announce-third-quarter-2025-financial-results-on-november-20-2025/) ## Vipshop to Announce Third Quarter 2025 Financial Results on November 20, 2025 GUANGZHOU, China, Nov. 10, 2025 /PRNewswire/ — Vipshop Holdings Limited (NYSE: VIPS), a… - [CISION PRNewswire](https://thailandbusinessnews.net/author/cision/ "View all posts by CISION PRNewswire") - November 10, 2025 [](https://thailandbusinessnews.net/press-release/suncar-secures-exclusive-6-8-million-contract-for-walmart-chinas-2025-sams-club-premium-membership-car-wash-project-across-17-cities/) ## SunCar Secures Exclusive $6.8 Million Contract for Walmart China's 2025 Sam's Club Premium Membership Car Wash Project Across 17 Cities NEW YORK, Jan. 8, 2025 /PRNewswire/ — SunCar Technology Group Inc. 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