Payment service provider
Licence classes, the S$3m, S$6m and S$5m thresholds, base capital and the 2024 amendments are summarised in our Singapore Payment Services Act 2026 briefing. Fintech founders choosing the entity first: Singapore company for fintech.
PSP is one of 8 parts of our “Licensing — MSB / VASP / EMI” practice. It covers the full cycle from initial scoping to operational launch, run by a single named partner from our Singapore practice.
What it is in Singapore: payment service provider.
The “PSP” project in Singapore is structured as a 4-stage process run by a single named partner.
Fintech, crypto, EMI, and payments licences across Canada, the UK, UAE, Estonia, and Singapore — application through to regulator onboarding.
The same desk that runs PSP handles your banking, bookkeeping, compliance and — where needed — your wind-down.INNOVA · Operating model
Singapore is the operating hub of the Asia-Pacific region, with territorial taxation, a strong regulator (MAS), and the rule of law. Our priority for structures focused on Southeast Asia and for fintech licensing under the PSA.
Operational differences that hold up on the 2nd, 5th and 10th project — not just at first impression.
Registration, banking, tax, compliance and immigration stay under one accountable INNOVA partner from start to finish.
Working since 2012 through several regulatory cycles — including FATCA/CRS, the tightening of banking, and the introduction of UAE CT.
Every output document is ready for audit and investor scrutiny — whatever the size of the deal.
INNOVA coordinates the work end to end; vetted local specialists join where local execution is required, without handing the client off.
A 4-stage process led by a single named partner — from the intro call to the operational hand-over.
Jurisdiction selection and assessment of approval prospects
Application and supporting documents
The regulator's review process
Banking, operating model and monitoring
What we need from you to begin — and what you walk away with. We won't pester you with needless questions: we already have most of the answers.
We don't quote a fixed price without understanding your situation — cost depends on the complexity of your case. Start with an initial call, then we pick the right format.
A 30-minute online consultation. We discuss your situation, define the project scope, and propose a structure and timeline.
A written consultation with a full review of the business — tax positioning, structure options, jurisdiction comparison, banking path. Turnaround: 5 business days.
For complex situations — multi-jurisdiction structures, regulated activity, founder relocation. A full plan with stages, dependencies, deliverables and timing.
You know what you need — we execute. No advisory mark-up and no discovery phase.
Complete the online questionnaire: it creates your account on the portal, where your structure, renewal reminders and documents will live.
4 steps · creates an INNOVA portal account · 24h review.
Once you submit the questionnaire we create a portal account. Inside: your live structure, a renewals calendar (annual returns, register updates, tax filings), a document vault (certificates, share register, bank letters), a partner chat and project status. A single place for your entire operational life.
A review from a client who went through a comparable project. Verified, the engagement is ongoing.
The questions we're asked most often. If yours isn't here, an intro call is the fastest way to get an answer.
Most “PSP” projects in Singapore run 4–9 months start to finish. The fastest stage is document filing; the longest is post-registration onboarding (banking, tax registration). A single named partner runs the project throughout.
From US$ 18,000 · depends on licence type. The lower bound is for clean, standard profiles; the upper bound is for complex ownership structures, multi-jurisdiction projects or regulated activity. A fixed quote follows a 30-minute scoping call.
In most cases, no. The entire process runs remotely under a notarised power of attorney. A handful of jurisdictions require an in-person visit (typically biometrics for a residence permit) — we plan those as efficiently as possible.
One issued by the Monetary Authority of Singapore under the Payment Services Act 2019. The Act defines seven regulated payment activities and three licence classes — money-changing, standard payment institution and major payment institution — with the class set by transaction volumes and e-money float rather than by the label a firm gives itself.
A permanent place of business in Singapore, at least one executive director resident there, and a board that can evidence competence in the activity. MAS also requires a technology-risk and security framework and, for major payment institutions, safeguarding of customer money with a bank or an approved guarantee.
MSB (Canada) is a licence for fiat money services. VASP (EU and others) covers virtual assets. EMI (EU/UK) is an Electronic Money Institution — a broader status, regulated like a quasi-bank. The choice depends on your activity, jurisdiction and capital.
Yes — the licence application and the AML/KYC programme are developed in parallel. Filing an application without the programme leads to conditions or a refusal.
The same service — in every jurisdiction we run. One desk, one standard.
