The Aspire Group (“Aspire”) provides payment and other regulated services in a number of different countries through different legal entities. In each country, Aspire holds a relevant license/authorisation and operates in full compliance with legal and regulatory requirements. See below for details specific to each country.

Aspire FT Pte. Ltd. has been granted a temporary exemption from holding a license under the Payment Services Act 2019 (as amended, "PS Act") for the provision of Account Issuance Service, Domestic Money Transfer Service, and E-money Issuance Service for a specified period. The exemption can be confirmed on the MAS website here.

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Aspire FT Pte. Ltd. has also been granted a temporary exemption from holding a license under the PS Act for a specified period for the provision of specified cross-border money transfer service caught under the expanded scope of the regulated activities. The expanded scope of regulated activities relates only to arranging for the transmission of money from any country or territory to another country or territory, where monies are not accepted or received in Singapore. The exemption can be confirmed on the MAS website here.

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Aspire FT Pte. Ltd. is not licensed, nor exempt, to provide cross-border money transfer service beyond the expanded scope described above, and consequently, this service is provided only by MAS licensed entities partnering with Aspire (”Partners”), subject to their own terms and conditions. All Aspire and Partners terms and conditions can be found here.

A.F.T. SG Pte Ltd (“AFT SG”) is an exempt moneylender under The Moneylenders Act 2008, having been granted an exemption from the Ministry of Law. Please see the registration details here.

PT Kharisma Catur Mandala is a payment service provider regulated under Bank Indonesia with license No: 23/660/DKSP/Srt/B, and has been 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 also works in collaboration with various affiliates and partners that are regulated by OJK or licensed by Bank Indonesia for various products and services.

PT Alumak Teknologi Indonesia is a registered aggregator service provider within the scope of digital financial innovation from the Financial Services Authority (OJK) in Indonesia with registration number 001/ATI/XI/2019. Alumak does not independently provide financial service products regulated by laws and regulations. Alumak cooperates with financial service institutions registered and supervised by government authorities that provide financial services to consumers.

AFT HK Limited holds a Money Service Operator (MSO) license and is allowed to offer payment services in Hong Kong, including domestic & cross-border money transfers and currency exchange services. As an MSO, AFT HK Limited is regulated by the Hong Kong Customs and Excise Department (C&ED).