Licensed Payment Service Institutions
What is the difference between an SPI & MPI License
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