Singapore Major Payment Institution- MIP for sale

Established initially as a sole proprietorship in the 1990s, this exempt limited company successfully transitioned into a private limited company in 2006 following regulatory licensing—maintaining continuous operation for over 30 years. Governed by two local directors who also serve as shareholders, its centrally located counter in a major urban hub handles both cash and cashless remittance transactions. The current team includes two registered directors, one operations & compliance manager, two full-time onboarding and operations staff, and one part-time support—offering strong operational coverage.
Under a cross-border payments license granted by the regulatory authority (MAS), the company has sustained trust across a loyal retail customer base and a core group of traditional corporate clients. Retail clients comprise 86% of its volume, while corporate accounts account for 14%. The dominant remittance corridor is S$/THB, contributing 85% of total revenue, with the remaining 15% spread across other ASEAN currency pairs. Technologically, the business continues to rely on Axis remittance software—approved since 2011—for its retail operations.
Leadership is currently provided by a father-and-son duo, with the son opting not to continue in the business. Importantly, the company is pre-approved by MAS for sale to qualified purchasers. The seasoned and compliance-focused staff, many of whom have been with the business for several years, are positioned to support a seamless ownership transition. Holding MPI (Major Payment Institution) status, the business has the immediate right to broaden its license portfolio—for instance, into account issuance, domestic transfers, wallet payments, card issuance (Mastercard/Visa), and virtual banking services—unlocking avenues for significant growth and diversification.
Banking relationships are well-established, with accounts across multiple institutions: Maybank, CIMB, UOB, and DBS (multi-currency).

Financials

2022 Revenue: ≈ €303k
2023 Revenue: ≈ €209k
2022 Net Loss: ≈ €92.7k
2023 Net Loss: ≈ €128.9k

The 2024 accounts are currently under audit, though management accounts will be shared upon firm interest.

Conclusion

This time-honored payments company—operating for over three decades—is a trusted, MAS-licensed cross-border remittance provider. Anchored by a central physical counter and supported by a lean yet experienced team, it commands a strong retail clientele and maintains loyal corporate relationships. With its MPI status and regulatory pre-approval for a change in ownership, the business is primed for a seamless transfer with full senior management support for a year, mitigating transitional risk.
Strategically, the immediate ability to upgrade into account issuance, domestic transfers, digital wallets, card services, and virtual banking positions the venture for exponential value enhancement. These high-margin, digitally-driven services align well with regional payment market evolution.
However, the current financials highlight operational losses in both 2022 and 2023 (~€92.7k and €128.9k respectively), signaling the need for cost rationalization, revenue uplift, or capital injection post-acquisition.
For an investor or acquirer, this presents a compelling opportunity: an entrenched, compliant payment platform with strong growth infrastructure, ripe for transformation into a diversified digital financial services provider.