MPay’s Labuan subsidiary secures Labuan FSA licence to drive regional and global fintech growth

• Licence allows for mobile wallets and Mastercard cards with no size limits
• MPay Labuan will operate credit token & digital payment services for overseas markets

ManagePay Systems Berhad (MPay), a leading Malaysian fintech company, has announced that the Labuan Financial Services Authority (Labuan FSA) has approved MPay to establish a subsidiary in Labuan, namely MPay SPV Labuan Ltd. (MPay Labuan).

In a statement, the company stated that MPay Labuan will operate a credit token business and digital financial services, as well as a payment system targeting foreign markets. It added that this development empowers it to extend its innovative financial solutions — including multi-currency mobile wallets and Mastercard prepaid cards — to clients across the Asean region and globally.

The Labuan FSA licence positions MPay Labuan to operate within the Labuan International Business and Financial Centre (Labuan IBFC), a jurisdiction renowned for its robust regulatory framework and strategic location in Asia. This approval enables MPay to offer secure, compliant, and cutting-edge financial services to a diverse international clientele, including digital nomads, e-commerce entrepreneurs, expatriates, and small to medium-sized enterprises (SMEs).

MPay Labuan’s licence also permits the issuance of mobile wallets and Mastercard prepaid cards without preset wallet size limitations, offering users enhanced flexibility in managing their funds. Furthermore, as a licensed payment system operator, MPay Labuan is authorised to facilitate transactions settled in United States dollars, providing e-commerce businesses with the capability to accept and process payments in foreign currencies efficiently.

“Securing the Labuan FSA licence marks a pivotal step in MPay’s journey to become a global fintech enabler,” said Chew Chee Seng, group managing director and founder of ManagePay Systems Berhad.

“With this licence, we can now offer our advanced financial solutions beyond Malaysia, tapping into new markets and serving a broader customer base with our secure, trusted, and user-friendly platforms,” he added.

Labuan IBFC’s conducive environment for digital financial services, coupled with its favourable tax regime and adherence to international compliance standards, makes it an ideal hub for MPay’s fintech expansion. The licence enables MPay Labuan to provide services such as cross-border remittances, digital payment solutions, and financial management tools — all tailored to the needs of an international audience.

According to MPay, its expansion aligns with the growing demand for accessible and reliable fintech services worldwide. By leveraging the opportunities presented by the Labuan FSA licence, MPay is set to enhance financial inclusion and support the growth of the digital economy across various global regions.