PhotonPay Achieves U.S. Money Transmitter License to Bolster Global Operations and Compliance

PhotonPay's New Milestone with U.S. MTL License

In a significant development for the financial technology industry, PhotonPay has successfully secured a Money Transmitter License (MTL) from the regulatory authorities in the United States. This important milestone is critical as it further solidifies PhotonPay's ability to provide digital financial services while adhering to regulatory standards, particularly in a market as complex as that of the United States.

With this MTL, PhotonPay aims to strengthen its localized service capabilities, which will not only widen its operational reach in the U.S. but also support its growth strategy in the Americas and globally. The MTL is essential for companies engaged in funds transfer and related payment services, enabling them to operate within a defined regulatory framework that ensures compliance and safeguards against financial misconduct.

The licensing process in the U.S. is notably rigorous, requiring a thorough examination of a company’s risk management, anti-money laundering (AML) measures, and counter-terrorist financing controls. PhotonPay's successful acquisition of this MTL serves as a testament to the robustness of its compliance and risk management frameworks, which have been designed to meet high regulatory standards.

Prior to this achievement, PhotonPay had already registered as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN), allowing for a cohesive expansion strategy. By marrying the powers of both the MTL and MSB registration, PhotonPay can enhance its payment and fund transfer services in the U.S., supporting a more localized operation ready for long-term growth.

JP, the Group Chief Compliance Officer at PhotonPay, stated, "The U.S. regulatory landscape is characterized by its sophistication and structural complexity. Securing this additional MTL license is more than just a milestone; it fortifies our compliance architecture and reflects our unwavering commitment to risk management. We believe that merging compliance with product innovation is the key to providing the secure and seamless financial services that our clients around the world demand."

PhotonPay prioritizes compliance and risk controls, embedding them within its technology architecture and everyday operations. Continuous improvements are being made across various aspects including Know Your Customer (KYC), Know Your Business (KYB), AML, data protection, and transaction monitoring frameworks to further enhance service stability and build trust with its global clientele.

Looking ahead, PhotonPay has plans to advance its licensing and regulatory engagements across multiple regions including Asia-Pacific, the Middle East, and Europe. By closely aligning its operations with local regulatory frameworks, PhotonPay seeks to create a resilient global financial infrastructure that empowers businesses to scale confidently and effectively.

Established in 2015, PhotonPay is on a mission to build a digital financial infrastructure that links the global economy. Compliance remains a cornerstone of its business strategy, with local teams established in over ten major markets and partnerships formed with top-tier financial institutions such as J.P. Morgan. PhotonPay is dedicated to integrating fintech solutions into varied business scenarios, assisting enterprises in achieving secure and compliant growth in international markets.