Licensed Payment Service Institutions

An SPI and MPI are differentiated based on their transaction volumes.

A licensee can apply to be classified as an SPI based on the following criteria:

   - If the average monthly transactions for any one payment service activity is below S$3 million and
   - If the average monthly transactions for two or more payment services is below S$6 million and
   - If the average daily outstanding e-money float (for e-money issuer) is below S$5 million