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

MPay said in a statement that the Labuan subsidiary will operate a credit token business and digital financial services, as well as a payment system targeting foreign markets.

This instrumental development empowers MPay 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 license positions MPay Labuan to operate within the Labuan International Business and Financial Center (Labuan IBFC), a jurisdiction renowned for its robust regulatory framework and strategic location in Asia.

This approval enables MPay to offer secure, compliant, and leading-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 license 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 authorized to facilitate transactions settled in United States Dollars (USD), providing e-commerce businesses with the capability to accept and process payments in foreign currencies efficiently.

“Securing the Labuan FSA license marks a pivotal step in MPay’s journey to become a global fintech enabler,

“With this license, 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,” said Chew Chee Seng, Group MD and Founder of ManagePay Systems Berhad.

According to the statement, Labuan IBFC’s conducive environment for digital financial services, coupled with its favorable tax regime and adherence to international compliance standards, makes it an ideal hub for MPay’s fintech expansion.

The license enables MPay Labuan to provide services such as cross-border remittances, digital payment solutions, and financial management tools, among others – all tailored to the needs of an international audience.

MPay’s expansion aligns with the growing demand for accessible and reliable fintech services worldwide.

By leveraging the opportunities presented by the Labuan FSA license, MPay is set to enhance financial inclusion and support the digital economy’s growth across various regions at a global scale.

MPay is a Malaysian-listed fintech company providing comprehensive payment, digital financial services, and technology solutions.

Through its subsidiaries, the firm offers payment gateway system, mobile wallet platforms, buy now pay later (BNPL), peer to peer (P2P) financing, microfinancing, and fintech-as-a-service capabilities.

MPay also develops and manages enterprise platforms, loyalty ecosystems, and digital identity integrations, serving both public and private sectors.

With a growing presence in digital transformation initiatives, the firm continues to expand its role in driving Malaysia’s Smart Nation and cashless economy agenda.


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