TranSwap granted EMI authorisation in the UK

Friday 11 February 2022 10:59 CET | News

Singapore-based fintech TranSwap has announced that it received authorisation from the Financial Conduct Authority (FCA) to conduct payment activities as an Electronic Money Institution (EMI) in the UK.

This marks an important authorisation milestone for the company which already has licenses to operate in major Asian markets, including Indonesia, Hong Kong, and Singapore.

The new EMI authorisation allows TranSwap to provide a series of services, among others platform-as-a-service (PaaS), global payments and collections, borderless digital wallets, and cards and spend management to UK businesses.

To facilitate UK-APAC trade and investment in new technologies, British customers benefit from high-speed and low-cost access to cross-border payments and collections on the Asian market. As the same time, Asia-based clients can grow, scale, and expand their businesses in the UK competitive market and do businesses like the UK locals.

TranSwap offers high-quality and customised fintech solutions to businesses. Launched in 2017 in Singapore, it is fully regulated and licensed and its platform acts as a service solution that includes API integration. Customers opting for TranSwap can make payments in more than 180 countries and 120 currencies globally.

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Keywords: bank transfer, money transfer, regulation, FCA, Monetary Authority of Singapore (MAS), cross-border payments, PaaS, payments
Categories: Payments & Commerce
Countries: United Kingdom
This article is part of category

Payments & Commerce