Payment services provider Worldline announces its wholly owned subsidiary, GCS APAC has been granted Major Payment Institution license by the Monetary Authority of Singapore (MAS).

The MAS license allows Worldline the opportunity to bring its innovative and market-leading payment technology solutions to one of the most advanced and rapidly expanding global markets with huge growth potential. It will be able to deliver localized and cross-border money transfer services, alongside supporting merchant acquisition services to an eager and increasingly demanding universe of local and international merchants conducting business within this marketplace.

This announcement further reflects Worldline’s successful strategic push into the wider, fast-expanding Asian regional markets.

In addition to serving merchants in the region, Worldline is also working with a large network of leading banks. Over 85% of banks in ASEAN countries are already using Worldline’s product portfolio in markets like Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, Brunei, Taiwan, Hong Kong and China.

“Businesses and consumers in these divers markets have shown great enthusiasm in adopting new ways of doing business for many years now. In line with their rapidly changing purchasing habits, they are constantly adopting innovative technologies and setting new trends with global implications”, says Ms Beate Krugmann, Head of East & Southeast Asia at Worldline Merchant Services.

“At Worldline we appreciate these exciting trends, and are very keen to stay on top of innovation and development. As part of our regional expansion strategy, we are committed to playing a pivotal role in our Asian markets that are so rapidly gaining importance. I am very proud we have now been granted our new license from the Monetary Authority of Singapore, which ensures an even stronger foothold in Singapore and throughout our Asian markets.“