Payment System

Payment System Operator

  • Mainly catering for cashless transactions where products and services are paid using e-digital or wallet.
  • The benefits of Payment system are:
  1. Flexibility and ease of making payment anytime and anywhere
  2. Lower operational costs
  3. Instant and convenient via contactless payment for funds received in real-time
  • 2 types of model are available:

Innovative Financial Services (IFS) framework

  • The Innovative Financial Services (IFS) framework in Labuan IBFC allows applicants to creatively apply for a combination of licenses for preferential tax rates and to achieve specific objectives:
  1. Credit Token license
  2. Labuan payment system license
  3. Labuan Money broker license
  4. Labuan Fund Manager license
  5. Crypto or digital exchange license
  • For example :
  1. Crypto exchange or digital exchange license enables the creation of a trading platform for tokens and digital assets
  2. Labuan Payment system utilises a digital or e-wallet to store, send and receive these digital assets.

Licensing  Requirements

Operational Requirements