This allows Tintra Payments Mauritius (TPM) to operate as an online payment service provider, covering the provision of payment services and merchant online services for accepting electronic payments by a variety of methods including credit card, bank-based payments such as direct debit, bank transfer, and real-time transfer based on online banking.
Mauritius has become a financial services hub for Africa and South Asia and the approval of TPM to commence operations is viewed as a step in the development of its Web 3.0 Banking strategy. TPM, a Mauritian incorporated company, is currently finalising its name change from Oyster Payment Services.
Company officials stated that a number of conversations are underway globally with strategic jurisdictions, such as Mauritius, that align with their road map and strategy. Simultaneously, this will allow them the scope to execute on their philosophy of building relationships with partners and territories that share their view that fiscal inclusion is a right, not a privilege.
The previously announced hubs of the company’s emerging market clearing bank network, namely, the UK, Qatar, and Puerto Rico, will be supported by ancillary e-licenses such as the license announced here. This license will bridge currencies and territories utilising Tintra’s artificial intelligence-led compliance, that it expects will lead in eroding financial friction as it builds a Web3 bank that is beyond borders, politics, and geography.
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