Singapore-based fintech start-up Texcent receives Remittance License from Monetary Authority Singapore (MAS)

PR72382

SINGAPORE, Feb. 21, 2018 /PRNewswire=KYODO JBN/ --

Texcent Asia, Singapore based payments company announced today, that it has

received remittance License from Monetary Authority Singapore (MAS).

"With this, Texcent will commence its much-awaited global payments and

remittance business focusing first in Asia, Africa and Australian markets,

followed by Europe, Russia, and Latin American countries," said Sumedha Goel,

Founder and President at Texcent.

The company has future plans to connect its remittance network with its Hybrid

Mobile Wallet 'Paycent'. Paycent is a global mobile dual E-wallet that can be

funded by digital and fiat currencies within the same mobile application.

Paycent has partnered with MasterCard for its debit card program that will help

users instantly convert digital assets into local currencies for use or

withdrawal from automated teller machines (ATMs) and liberate the consumers

from the hassles of going to designated exchanges for converting digital assets

to fiat currencies.

This is the first such payment solution that cuts across all barriers and

instantly converts all digital currencies to fiat currencies.

"In reality, it is a mobile wallet for fiat and digital assets with a debit

card and will include money transfer feature. It's a one-stop-shop for all

financial needs of a consumer on the move," she says. "The Paycent debit card

that will be available to customers in March this year, will solve these issues

and make it easier for consumers using both currencies. We are issuing the card

globally."

About Texcent

TEXCENT is a global payment platform solutions. We are dedicated to deliver

fully integrated mobile applications and providing an unparalleled online

experience to Asia and the world. Read more at https://paycent.com/

Texcent

Helen Laylo

Corporate Communications

Tel: +65-6439-2222

Helen@texcent.com

Source: Texcent Asia