The Canadian fintech company Nuvei Corporation has
secured a Major Payment Institution (MPI) license in Singapore as part of its
initiative to expand operations in the Asia-Pacific (APAC) region. The approval enables Nuvei to offer various payment
services, including domestic and cross-border money transfers and merchant
acquisition services, to businesses in Singapore.

Nuvei’s MPI license grants the firm the authority to
operate three crucial payment services in Singapore, catering to the diverse
needs of businesses in the region.

Philip Fayer, Nuvei‘s Chair and CEO, mentioned:
“Securing this MPI license is another significant milestone as we continue
accelerating our growth in APAC. This license enhances our service offering for
customers in Singapore by enabling us to provide additional payment solutions,
including international money transfers through direct card payouts.”

We’re pleased to announce that we have been granted a Major Payment Institution (MPI) license by the Monetary Authority of Singapore, allowing us to offer more payment services in Singapore 🚀

Read the full press release here: https://t.co/QAo3wnaaKr pic.twitter.com/usfXQATAEH

— Nuvei (@Nuvei) April 9, 2024

Recently, Nuvei partnered with Mastercard Send to
solidify its position in the Singapore market. The collaboration allows
businesses to process cross-border payouts to over 1.5 billion Mastercard
debit, credit, and prepaid cards globally.

The acquisition
Acquisition

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term of an MPI license acquisition in
Singapore is part of Nuvei’s broader expansion strategy across the APAC region,
which includes launching direct card-acquiring capabilities in Australia and
sustaining growth in China.