Reap secures In-Principle Approval for MPI License from MAS
By Gloria Mathias
Reap, a payment technology provider, has received an In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for its application for the Major Payment Institution (MPI) license for its Singapore entity, Reap Singapore.
Reap is dedicated to achieving regulatory advances while continually enhancing its capabilities and presence in Singapore and the broader Asia-Pacific region. The attainment of the IPA represents a significant milestone; however, Reap Singapore is focused on fulfilling the necessary conditions to secure the MPI license.
Reap is dedicated to allocating the requisite resources to support and facilitate Reap Singapore in achieving this objective. Together, Reap and Reap Singapore will persist in elevating compliance standards and beyond, ensuring the delivery of enhanced value and reliable solutions to customers across Singapore and the wider APAC region.
“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 the global money movement. Its high regulatory standards and commitment to fostering 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.
IBSi FinTech Journal

- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
February 05, 2025
Tap, pay, spend: How digital payments are surging in Southeast Asia & India
Read MoreRelated Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q4 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More