What are Aspire Licenses?
Updated over a week ago

We take great pride in being carefully compliant with the regulations of the countries we operate in.

Please refer to the licenses below, based on your business's country of incorporation.

Businesses incorporated in Singapore or other Supported Countries

If your business is incorporated in Singapore of other supported countries, Aspire FT Pte. Ltd. is currently exempted from holding a license to provide payment services in Singapore under the Payment Services Act (No. 2 of 2019). You can find the list of exempted entities here.

Credit lines to businesses are issued by Aspire Financial Technologies Pte. Ltd, which is an excluded moneylender under the Moneylenders Act (Cap. 188).

Your funds are kept strictly segregated in a trust account and safeguarded with DBS bank in Singapore.

Top-tier partners and clients trust us already. Check out articles on Aspire by TechCrunch, Tech In Asia, Singapore Business Review, and Business Insider!

Businesses incorporated in Indonesia

In Indonesia, we operate under the auspices of PT Kharisma Catur Mandala. PT Kharisma Catur Mandala is a payment system company regulated by Bank Indonesia with Fund Transfer permit No: 20/231/DKSP/82, Payment Gateway permit no: 22/454/DKSP/Srt/B, and has registered as an Electronic System Operator (PSE) at the Ministry of Communication and Information of the Republic of Indonesia, Number: 000972.02/DJAI.PSE/08/2022.

PT Kharisma Catur Mandala collaborates with various payment service providers for various types of transfers:

  • The RTOL transaction service provider is the Switching Institution

  • The SKN and RTGS transaction service provider is Bank Permata

PT Kharisma Catur Mandala guarantees the availability of accounts from both payment service providers so that users can make transfers in any amount at any time.

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