This licence expansion is set to allow Singaporean businesses to receive payments internationally, and international businesses to provide widely used local Singaporean payment options.
SINGAPORE, Dec. 2, 2025 — today revealed that it has been granted In-Principle Approval (IPA) by the Monetary Authority of Singapore for an amendment to its Major Payment Institution (MPI) licence.
The In-Principle Approval represents a crucial achievement in Thunes’ ongoing expansion and underlines its dedication to being a leading, trustworthy, and innovative fintech firm based in Singapore.
Once the MPI licence variation is officially granted, Thunes will be able to broaden its international services available in Singapore. This development will enable businesses to utilise an expanded suite of payment solutions and process transactions from international customers, leveraging both well-known global and local payment options. More precisely, Singaporean businesses will gain the capability to receive payments through widely used international methods, and simultaneously, global businesses in major regions like the Middle East, South Asia, Africa, and Europe will be able to accept prominent Singaporean payment systems such as PayNow and GrabPay.
Currently, the Thunes Network provides its members with access to over 320 local payment methods globally, supported by the group’s extensive portfolio of more than 50 financial service licenses worldwide.
Following the official approval of the MPI licence variation, Thunes Asia will be permitted to offer account issuance, domestic money transfer, merchant acquisition, and e-money issuance services, in addition to its current cross-border money transfer offerings.
Peter De Caluwe, Co-founder and CEO of Thunes Group, said: “This In-Principle Approval from the MAS represents a significant advancement for Thunes’ international strategy and an impetus for expansion. Singapore, serving as our global headquarters, is central to our governance and innovation efforts. With this approval, we are intensifying our dedication to linking markets, supporting merchants, and broadening our reliable Direct Global Network worldwide.”
Ruwan De Soyza, General Counsel at Thunes Group, added: “Robust governance and a dedication to regulatory best practices have consistently been fundamental to Thunes’ operations. This achievement underscores our steadfast resolve to conduct business ethically and correctly. Our powerful Thunes Fortress Compliance Platform supports all our activities, guaranteeing that our Members can have confidence in every transaction processed through our Network.”
This In-Principle Approval marks a significant step in Thunes’ ongoing efforts to lead in establishing a more secure and integrated global payments ecosystem, enabling businesses and consumers to conduct cross-border transactions effortlessly. The company is actively working to fulfil all outstanding conditions for the final approval.
FOOTNOTES
An In-Principle Approval (IPA) for a licence variation application indicates the MAS’s preliminary assessment that the applicant’s request for licence modification could be granted, pending the satisfaction of specific criteria and the absence of any substantial negative changes impacting the applicant. An IPA does not, at this time, serve as final authorization for the Company to offer account issuance, domestic money transfer, merchant acquisition, and e-money issuance services. The MAS retains the authority to withdraw the IPA if it deems necessary.
ENDS
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