SPI (Standard Payment Institution)
The lower of the two Payment Services Act licence tiers, for institutions below the volume thresholds that trigger MPI status. It is a real licence, not a lesser one in kind — but the tier is worth reading off the register rather than off a homepage that says only "MAS licensed".
Why it matters to a merchant
An SPI is a real licence and a smaller one, bounded by transaction and float thresholds. For a merchant the practical question is whether their own volume, or the volume they expect in two years, sits comfortably inside those bounds — a provider that has to change licence class as you grow is a migration you did not plan for.
Where this comes up
Pages on this site that deal with this in context:
Related terms
In this section: Licensing and regulation in Singapore