Xfers Pte. Ltd. (legal entity of Fazz Business in Singapore) is the holder of a Major Payment Institution (MPI) license for e-money issuance under the Payment Services Act 2019. As an MPI, Xfers is required to safeguard relevant money that we received from our customers. We safeguard the relevant money by way of an undertaking from a MAS-approved bank to be fully liable to our customers for the relevant money, in the event of our own insolvency.
For more information, please check out the Payment Services Act 2019 (section 23) and our Terms-of-Service page here.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article