Instage Technology Pte. Ltd., a subsidiary of SHOPLINE, a leading global commerce Software-as-a-Service (SaaS) platform, announced that it has obtained the Major Payment Institution (MPI) licence issued by the Monetary Authority of Singapore (MAS).

The licence covers five regulated payment services — Account Issuance Service, Domestic Money Transfer Service, Cross-Border Money Transfer Service, Merchant Acquisition Service, and E-Money Issuance Service — enabling SHOPLINE to further strengthen comprehensive payment solutions for over 600,000 merchants worldwide.

Singapore is a well-established financial hub with a strong regulatory framework for payment services. Instage Technology's MPI licence represents a key regulatory milestone for SHOPLINE Payments. SHOPLINE Payments has implemented governance, compliance, and operational frameworks, which, together with the systems and controls already established and those undergoing further enhancement, support the company's ability to deliver secure, reliable, and efficient payment services.

SHOPLINE is now equipped with the foundational financial infrastructure needed to build a more seamless, end-to-end commerce and payments ecosystem, which:

• expands the range of payment methods to better align with local habits
• offers more competitive pricing through unified account structures
• boosts checkout conversion with reliable and smooth payment experiences
• provides multi-currency capabilities to support seamless global expansion
• strengthens fund security with enhanced compliance and safeguards