Singapore
E-WALLET operators in Singapore are eyeing a future as a digital bank as opportunities in the business-to-business space come to the fore.
The Business Times understands that at least five e-wallet operators in Singapore - startups Liquid Group, Xfers and MatchMove Pay among them - are seriously evaluating whether to go after the digital bank licence once applications open in August.
Mobile payments solution provider FOMO Pay is also eyeing the licence, its co-founder, Zack Yang, told BT. FOMO Pay, while not a stored value facility, provides merchants with payment processing and collection services for various mobile payment methods such as GrabPay and WeChat Pay.
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