BC Payments has received a Major Payment Institution licence from the Monetary Authority of Singapore, while HitPay and Yuno have formed a strategic partnership.
BC Payments receives licence from MAS
Banking Circle S.A. (Banking Circle) has announced that its wholly owned subsidiary BC Payments Pte. Ltd. (BC Payments Singapore) has been granted a Major Payment Institution (MPI) licence by the Monetary Authority of Singapore (MAS).
BC Payments Singapore is now fully licensed to facilitate frictionless, scalable, and compliant cross- border payment flows for banks, fintechs and global payment providers in Singapore, according to a statement.
“Securing the MPI licence from MAS is a crucial progression in Banking Circle’s mission to build the payments infrastructure for the global financial economy,” said Mishal Ruparel, Chief Commercial Officer of Banking Circle.
BC Payments Singapore has expanded its local presence and capabilities, leveraging Banking Circle’s global clearing infrastructure to connect international financial institutions with local clearing rails through a single API.
HitPay, Yuno partnership to simplify payments
HitPay, a provider of local payment infrastructure in Asia Pacific; and Yuno, a global orchestrator of financial infrastructure, have formed a strategic partnership to simplify payments complexity for international merchants expanding into Asia.
According to an announcement, the partnership combines Yuno’s payment optimisation technology—which identifies the fastest and most successful route for every transaction—with HitPay’s extensive network of local payment rails, remittance services, and e-wallet integrations. Together, they aim to enhance payment acceptance across Asia Pacific’s diverse consumer markets.
The collaboration also seeks to simplify the region’s fragmented payment ecosystem. Through the alliance, Yuno’s global merchants will gain instant access to HitPay’s wide range of alternative payment methods (APMs) and domestic payment schemes, helping them improve conversion rates and reach more customers in the region.
Through HitPay’s local network, Yuno’s merchants can easily accept popular regional payment options, including leading e-wallets such as GCash, ShopeePay, GrabPay, Touch ‘n Go, and Kakaopay. The integration also supports national payment schemes, enabling instant transfers and QR payments via PayNow, QRPH, and QRIS.
