Chinese cross border payment platform Skyee has gained in-principle approval (IPA) for Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS).
The licence will enable Skyee to offer payment services in Singapore, improving the payment experience for cross-border sellers.
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Skyee is providing payment solutions in China, Europe, North America, as well as North Asia.
Commenting on the approval, Skyee Singapore CEO Kozen Tan stated: “Being granted this IPA from the Monetary Authority of Singapore is a big milestone for Skyee, especially as we expand our reach and payment services across geographical borders, solidifying our position in one of the most significant financial markets globally”.
The company is known for its product and service optimisation and received investment from Lakala Payment Group, a third-party payment company in China and a member of its group.
Headquartered in Guangzhou, China, Skyee has a global presence with offices in Hangzhou, Shenzhen, Hong Kong, Singapore, Los Angeles, London, Tokyo, and Canada.
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By GlobalDataThe company claims that its proprietary platform provides safe global cross-border payment services to overseas merchants. It offers solutions tailored for over 20 global payment scenarios.
Set up in 2016, Skyee Group is said to be “linking the global financial network, building a new payment system, and providing all-around convenience for cross-border fund transfers.”
