MAS received Wirecard's license application

It is operating under exemption until the Payments Services Act is enforced.

The Monetary Authority of Singapore has confirmed that it has received a license application from embattled payments firm Wirecard under the Payments Services Act, reports Reuters.

However, it did not say when it had received the application.

MAS said that Wirecard’s primary businesses in Singapore are to receive payments from merchants and help firms issue prepaid cards.

Wirecard is operating under an exemption until the new law is enforced.

Here’s more from Reuters.

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