PayFuture Group, a payment provider specializing in emerging markets, has secured an Electronic Money Institution (EMI) license by the Malta Financial Services Authority (MFSA) under the entity PayFuture FS MT Ltd.
The license approval marks a key milestone in PayFuture Group’s growth strategy, enabling EU merchants to further “expand their global reach into emerging markets through alternative payment methods (APMs) and with future capabilities to support card payments.”
PayFuture can reportedly offer instant, direct SEPA and SWIFT access, issue e-money, provide IBAN accounts along “with a broader suite of localised payment solutions.”
These capabilities will aim to help merchants with streamlining their international transactions, while also being able to “reduce friction in cross-border payments, and accelerate growth in new regions.”
Manpreet Singh Haer, CEO of PayFuture Group, commented:
“Securing the EMI license from the MFSA is a pivotal moment in our mission of supporting EU merchants in scaling their operations globally. Many of our merchants are targeting regions where traditional card brands have limited reach and local payment methods dominate. This license enables us to remove barriers to entry, simplify cross-border transactions, and expedite revenue in these fast-growing markets.”
They added:
“Our mission remains clear: enable online businesses to scale effortlessly through innovative, reliable, and performance-driven local payment methods, making expansion into emerging markets simple, smooth and successful.”
As noted in the update, PayFuture Group is described as an innovative payment platform designed to “unlock access to local payment solutions in global emerging markets.”
Through a single integration, PayFuture enables online merchants “to instantly offer pay-in and payouts via the most popular local payment methods in each region, simplifying market entry and growth.”
PayFuture’s gateway reportedly provides various advantages in enhancing the merchant’s journey, such as “improving approval rates, optimizing conversion recovery and helping merchants boost revenue in these high-growth regions.”