MPI (Major Payment Institution)
The higher of the two licence tiers under the Payment Services Act 2019; the lower is Standard Payment Institution. The tier follows transaction volume thresholds and brings correspondingly heavier obligations, including safeguarding of customer money.
For Uniweb Pay specifically: Uniweb Pte Ltd holds an MPI licence, No. PS20200612, with merchant acquisition named in its licensed scope.
Why it matters to a merchant
The class matters because of what it is allowed to do at scale rather than because of the letters. When a merchant is comparing two providers and one is an MPI, the comparison worth making is not "bigger licence, therefore better" — it is what activities each licence actually covers, which the register states for each institution by name.
Where this comes up
Pages on this site that deal with this in context:
Related terms
In this section: Licensing and regulation in Singapore