BNPL platform Atome has obtained in-principle approval from the Monetary Authority of Singapore to function as a Main Cost Establishment.
As soon as granted, the licence would permit Atome to offer fee companies, akin to account issuance, home and cross-border cash transfers, in addition to service provider acquisition companies.
The announcement comes on the again of Atome receiving the Fintech Employer of the Year and ASEAN Fintech Leader awards on the current Singapore Fintech Festival World Fintech Awards 2022.
Atome additionally introduced up to now week that it has partnered Trip.com and Airwallex to offer their platforms with purchase now pay later (BNPL) companies.
David Chen
“Receiving the IPA is a important milestone for our enterprise in Singapore, because it recognises our steadfast and rigorous dedication in direction of setting best-in-class compliance requirements,”
stated David Chen, CEO of Atome.
Leanne Lim
“The licensing and due diligence course of was complete and sturdy, and it’s an immense privilege to be granted an IPA,”
stated Leanne Lim, Regional Head of Compliance, Atome.
