In the news release, SHOPLINE Secures In-Principle Approval for Major Payment Institution License from the Monetary Authority of Singapore, issued 15-Oct-2025 by SHOPLINE over PR Newswire, we are advised by the company that the headline has changed, the first four paragraphs have been changed and are now three paragraphs, and the first paragraph below the bullets now reads "The MPI license, if granted, will enhance..." rather than "The MPI license will enhance..." as originally issued inadvertently. The complete, corrected release follows:

SHOPLINE Subsidiary, Instage Technology Pte Ltd, Secures In-Principle Approval for MPI License from Monetary Authority of Singapore

SINGAPORE, Oct. 16, 2025 /PRNewswire/ -- Instage Technology Pte Ltd, a subsidiary of SHOPLINE, the global commerce platform trusted by over 600,000 merchants, today announced that it has received In-Principle Approval ("IPA") from the Monetary Authority of Singapore ("MAS") for a Major Payment Institution ("MPI") license.

The MPI license, if granted, will authorize SHOPLINE to provide five regulated payment services, including: Account Issuance Service, Domestic Money Transfer Service, Cross-Border Money Transfer Service, Merchant Acquisition Service, and E-Money Issuance Service.

"The MPI license is a key milestone in our global strategy," said Raymond Hsu, Co-President of SHOPLINE. "It highlights our commitment to meeting the highest regulatory standards while delivering secure, efficient, and borderless payment experiences for merchants."

Driving Merchant Growth Through Payments Innovation

With the MPI license, SHOPLINE will be able to provide merchants with direct, end-to-end payment services—from KYC verification and transaction processing to fund settlement—without relying solely on third-party providers. The benefits include:

• More competitive pricing and faster settlements through reduced intermediaries
• Greater security and smoother experiences via end-to-end control
• Multi-currency capabilities that support cross-border growth

Strengthening Regional and Global Presence

The MPI license, if granted, will enhance SHOPLINE's commerce platform offerings, reinforcing its mission to provide merchants with a seamless ecosystem that integrates payments and e-commerce. This milestone builds upon SHOPLINE's existing regulatory presence in Asia, further deepening its footprint in Asia-Pacific. By harnessing Singapore's position as a global fintech hub, SHOPLINE is uniquely equipped to empower merchants with seamless end-to-end payment solutions—enabling them to build international connections, accelerate cross-border growth, and unlock new opportunities in the fast-evolving digital commerce landscape.

About SHOPLINE
Founded in 2013, SHOPLINE is a leading global commerce Software-as-a-Service (SaaS) provider, empowering brands and retailers to build, launch and scale their business around the world. SHOPLINE offers a fully integrated platform that provides merchants with solutions such as ecommerce, POS, social commerce, omni-channel marketing, B2B management, and more. Brands are also empowered to create custom integrations and unique shopping experiences with SHOPLINE's open platform architecture, comprehensive APIs, and extensive global partner network. SHOPLINE is headquartered in Singapore with over 2000 employees operating globally. Learn more at www.shopline.com. Follow us on LinkedIn.

An in-principle approval (IPA) reflects MAS' view that a licence may be issued to the applicant upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. An IPA does not constitute a licence for a Company to provide payment services at this juncture. MAS reserves the right to rescind the IPA in circumstances where it considers appropriate.

Source: SHOPLINE