Consumer advisory – Payment Services in Singapore are regulated under the Payment Services Act 2019 (the "PSA").
Remittance is powered by Wallex Technologies Pte. Ltd ("Wallex"), who is regulated by the Monetary Authority of Singapore and is a licensed Major Payment Institution under the PSA for the provision of Cross-border Money Transfer Services in Singapore (License No. PS20200433). And In Remit Pte. Ltd. (“In Remit”) is regulated by the Monetary Authority of Singapore (MAS) as a Standard Payment Institution under License No. PS20200483. Funds that constitute "relevant moneys" (as defined under the PSA) received by MAS licensed partners shall be held on your behalf in a trust account opened with a Safeguarding Institution as required under the PSA. Virtual accounts are powered by Wallex, who are regulated by the Monetary Authority of Singapore. Business Cashline is powered by Cash In Asia Pte. Ltd, who operates as an excluded moneylender under the Moneylenders Act (Cap 188).