Outsource your International Payment Needs to Singapore PAAS
The international payments market is highly regulated. Providers of international payment services are required to have a robust compliance program in place to identify, mitigate and manage effectively money laundering and terrorist financing risk.
Regulations are often changing. Providers of international payment services need to devote significant resources to complying with applicable regulations.
Failure to comply with any of these requirements could result in the suspension or revocation of a license or registration required to provide money transfer services, the limitation, suspension or termination of services, the seizure of providers assets and the imposition of civil and criminal penalties, including fines and restrictions on providers ability to offer services.
In addition, there is a risk that evidence of a serious failure by the providers to comply with laws may cause one or more of the counterparty banks or partner companies to cease business with the providers.
Regulators, counterparty banks and partner companies may interpret regulations differently to the way in which the payment providers interprets certain regulations.
There is a risk that the providers could be required to increase its spending on regulatory compliance and/or change its business practices to meet these differing interpretations in order to continue to offer international payment services. This could adversely affect the providers' income and profitability or make it uneconomic for the providers to continue to operate in a particular jurisdiction or with a particular counterparty bank or partner company.
Asia PAAS Group understands these challenges. That's why, since inception, we have a robust compliance program in place to identify, mitigate and manage effectively money laundering and terrorist financing risk.
The principal elements of the Asia PAAS Group’s compliance program are robust controls and procedures to identify clients, monitor their transactions and make reports to regulators as required.
In addition, we also provide a range of international payment solutions to partner companies which assist them to offer international payment services to their end-users.
The Asia PAAS Group offers end-users access to a technology platform that is user-friendly and designed to provide a streamlined experience, fast and simple registration and quick funds transfers.
This technology platform assists its end-users with competitive and transparent pricing, particularly when compared to the retail offering of many major banks.
3 End-user Scenarios
The ASIA PAAS Group provides international payment services for both consumer and business end-users.
Include high net--worth individuals, expatriates, international travelers and exchange students.
making mortgage payments in another country
paying rent, room, board or tuition for international students
repatriating savings after working overseas
investing in property or other assets aboard
Include SMEs and a number of large corporates with international payment needs.
paying foreign currency invoices
facilitating international payroll and retirement payments
accepting payments from overseas consumers and businesses
acquiring or selling currencies to hedge their foreign exchange positions
Partner companies who are in the business of providing international payment services to their end-users.
international payments market is highly regulated
players need to devote significant resources to complying with applicable regulations
risk of significant penalties if players fail to maintain or follow adequate procedures to detect AML
therefore, it makes sense to partner PAAS to leverage our efficient compliance platform
Learn All About the Advantages that Our System Has to Offer
Established global disbursement capabilities
We believe our global disbursement network with major banks and leading retailers represents a significant competitive advantage. Assembled relationship by relationship over more than twenty years, our network is comprised of trusted local brands who offer high-quality service. Our target customers generally recognize these brands, enabling us to more effectively acquire new customers through co-branded marketing campaigns in the Asia.
We believe our speed of deposit is superior to that of our competitors and that our cash pick-up service matches or surpasses those of other leading money transfer service providers wherever cash pick-up is relevant. We believe it would be difficult for a new competitor to replicate the breadth and quality of service our disbursement network provides.
Efficient regulatory compliance
We have designed our technology platform to operate efficiently in a highly complex and continuously evolving regulatory environment. Executing an effective compliance program while minimizing customer friction is challenging. Our technology and compliance expertise enable a low-friction customer experience in a highly regulated environment, which new market entrants would likely find difficult to replicate.
Acquiring the country and international regulatory approvals necessary to operate as a money transmitter is a time-consuming and capital-intensive process. We have spent significant time and resources developing our regulatory compliance program and fostering positive relations with the licensing authorities in the jurisdictions in which we operate.
Highly experienced technologists with payment fintech, FX and management experience
Scalable proprietary technology platform with a robust risk and compliance program
Asia PAAS Group is founded and led by former senior management of Accenture, Western Union, Travelex and Citi Bank in 2016, and they have been responsible for delivering the strong growth experienced by the Group since. The company founders are all highly experienced technologists with payment fintech, FX, M&A and management experience.
The international payments market is highly regulated. Providers of international payment services are
required to have a robust compliance program in place to identify, mitigate and manage effectively
money laundering and terrorist financing risk.
The principal elements of the Asia PAAS Group’s compliance program are robust controls and
procedures to identify clients, monitor their transactions and make reports to regulators as required.
Since inception, the Asia PAAS Group devotes significant resources to complying with applicable regulations, including having robust risk management and compliance processes in place to comply with all applicable laws and regulations.
Asia PAAS provides a range of international payment solutions to partner companies that assist them to offer international
payment services to their end-users.
The Group enables end-users to make payments in over 30 currencies and more than 100 currency pairs, in addition to providing international payment solutions to partner companies. It utilises a proprietary technology platform that provides a user-friendly client experience, reliable transaction processing, real-time monitoring and a high degree of automation.
We believe the Group’s business model is attractive to end-users and business clients, and would like
to offer our partner companies to benefit from the revenue generated as we
continue to grow and capture increasing market share as it increases its marketing efforts,
expands in newer geographies and
further develops its relationships with partner companies.
Opportunities in Continuous improvement in its our business model including expanding mobile /tablet app functionalities to enhance user experience
Geographic expansion of international payment
services including further expansion in new countries in the Asia Pacific through
the application for additional country licences.
Opportunities in expansion of international payment solutions including further geographic roll out, and introduction of new services