Payments platform 2C2P has secured a Major Payment Institution licence from the Monetary Authority of Singapore (MAS).
This licence authorises 2C2P to offer an expanded suite of payment services to businesses in Singapore, including domestic and cross-border money transfers.
The licence also allows the firm offer merchant acquisition services.
Since its inception in 2003, 2C2P has been operating in Southeast Asia’s payment industry.
In 2022, the company became a part of Ant International’s Antom, a provider of merchant payment and digitisation services.
2C2P Singapore country manager Agnes Chua said: “We are excited to build upon our existing payment offerings to provide a more comprehensive payments coverage for our merchants in Singapore and across Southeast Asia, through partnering with Antom as well as local and regional financial institutions.
“By leveraging the combined local expertise and world-class technologies of Antom and 2C2P, we aim to empower businesses of all sizes and provide a trusted and seamless payment experience for customers anywhere and anytime.”
Last month, ShopBack, a company specialising in shopping rewards and payments, obtained the MPL licence in Singapore.
The licence allows ShopBack to integrate payment services within Singapore’s regulatory environment through its product, ShopBack Pay.
Consequently, ShopBack can directly facilitate payment transactions, enabling merchants to accept and customers to make payments using ShopBack Pay.
“2C2P secures major payment institution licence in Singapore ” was originally created and published by Electronic Payments International, a GlobalData owned brand.
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