4 days ago
MPay Secures Labuan FSA License, Expands Fintech Reach To Global Markets
ManagePay Systems Berhad (MPay), a prominent Malaysian fintech company, has received approval from the Labuan Financial Services Authority (Labuan FSA) to establish a new subsidiary, MPay SPV Labuan Ltd (MPay Labuan), marking a significant step in its global expansion strategy.
The newly licensed entity will operate under the Labuan International Business and Financial Centre (Labuan IBFC) and focus on Credit Token Business, Digital Financial Services and a payment system aimed at foreign markets, particularly within ASEAN and beyond.
The approval also allows MPay Labuan to offer multi-currency mobile wallets and Mastercard prepaid cards without preset wallet size limits, delivering greater flexibility for users including digital nomads, small and medium enterprises, expatriates and e-commerce entrepreneurs. The license also designates MPay Labuan as a Payment System Operator, enabling US dollar-based transactions, a major benefit for cross-border e-commerce.
'Securing the Labuan FSA license marks a pivotal step in MPay's journey to become a global fintech enabler because now we can bring our secure, user-friendly financial solutions to a broader international audience' MPay's Group Managing Director and Founder Datuk Chew Chee Seng said.
Chew noted that Labuan IBFC's regulatory strength, strategic Asian location and business-friendly environment make it an ideal hub for MPay's expansion.
'The move supports MPay's broader mission to enhance financial inclusion and digital economy growth through accessible fintech solutions,' Chew said, adding that this milestone positions MPay to compete on the international stage, addressing rising global demand for secure, scalable and innovative digital financial services. Related
