MIP Singapore- Major Payment Institution for sale

Established in 2002, this Major Payments Institution (MPI) is a leading omni-channel remittance pioneer under a multi-regional licensing framework. It operates acclaimed brands—PAY-Co Alpha and PAY-Co Delta—and holds five regulatory payment licenses across major financial hubs (Singapore, Hong Kong, Australia), reinforcing its compliance and market footprint.

License Type Jurisdiction
Major Cross-Border Payments Singapore
Domestic Payments Singapore
Merchant Services Singapore
Money Transfer Hong Kong
Money Transfer (AU with AUSTRAC Registration) Australia


The company recently underwent a Big Four audit, commissioned by MAS, with no significant findings or concerns—affirming its robust compliance and operational stability.
It serves 60,000 active customers, handling 420,000 transactions. Total turnover stands at €206.9 million, split into foreign exchange income of €1.03 million, and fees of €1.80 million. It operates 11 retail outlets and 65 self-service terminals, as well as two mobile and two online digital channels, consolidating its omni-channel reach.
The institution leverages partnerships with two global correspondent banks, one being a top-5 global financial institution, enabling payments in all currencies globally, with deep, instant delivery rails into Indonesia, Philippines, China, Malaysia, India, Bangladesh, Vietnam, Thailand, and ANZ. Services extend to bank accounts, bill payments, cards, and wallets—most offering instant settlement.
Notably, it commands a double-digit market share within Singapore’s migrant worker segment, especially across Indonesian, Filipino, and Malaysian corridors—markets forecasted to double in payment volumes by 2030.
Strategically, recent changes in correspondent banking open outbound payment services from Australia, unlocking access to corporate and migration-driven remittance flows. Efforts are also underway to expand inbound payments from Indonesia and the Philippines—encompassing trade, investment, and education segments into its home markets. The recent acquisition of Merchant Services and Domestic Payments licenses also bolsters its capability to capture a portion of Singapore’s largely untapped bill payments market.
It is proforma EBITDA positive, pointing to underlying operational profitability.

Financials

Revenue €3,435,000
Foreign Exchange Revenue €1,030,000
Fee Income €1,800,000
Turnover €206,700,000


Conclusion

This MPI stands as a digitally advanced, omnichannel remittance powerhouse with over two decades of market leadership. Its multi-jurisdictional licensing, audit-validated compliance, and robust infrastructure—including proprietary tech, retail footprint, digital platforms, and global correspondent ties—lay a strong foundation.
Key strengths include:
Deep reach within high-growth corridors (Indonesia, Philippines, Malaysia), with market share poised to scale alongside forecasted sector doubling by 2030.
Strategic expansion via recent license acquisitions and correspondent enhancements—namely outbound Australia services, inbound corridor enhancement, and merchant/bill payments positioning.
Proforma EBITDA positivity, signaling financial stability.

For investors or acquirers, this presents a compelling opportunity: a heavily entrenched, regulation-aligned institution with scalable, multi-channel infrastructure, poised for expansion into adjacent high-margin services and markets.