Licenses

Singapore

LytePay Pte Ltd (UEN: 201827926E) has applied for licensing under the Payment Services Act of Singapore for the following specific payment services: –

  • Providing account issuance services
  • Providing domestic money transfer services
  • Providing foreign money transfer services

LytePay Pte Ltd has been granted an exemption from holding a licence under the Payment Services Act of Singapore for the following specific payment services for a specified period of 12 months: –

  • Providing account issuance services
  • Providing domestic money transfer services

You may find out more from MAS with regard to entities that have notified MAS pursuant to the Payment Services (Exemption for Specified Period) Regulations 2019.

Malaysia

LytePay Sdn Bhd (Registration No.: 201901041917 (1351247-W)) requires no specific licence to conduct its business in Malaysia under the Financial Services Act 2013 or the Moneylenders Act 1951 of Malaysia.

No FEA approval is required for the provision of Lyte facilities where payments are in Malaysian Ringgit between residents into accounts onshore. No prior written approval from BNM is therefore required from LytePay to make or receive payments in Malaysia.