Yourpay, an Indonesian digital payment and money transfer app popular among local Indonesians, is not authorised in Macau, the Monetary Authority of Macao (AMCM) announced in a statement on Friday.
The AMCM said it is aware of “the use of Yourpay application by the public to conduct money transfers from Macau to Indonesia and the promotion of such application to residents in various social media platforms”, warning that only authorised financial institutions are allowed to carry out regulated financial activities in the city.
“Any persons or entities engaging in these activities without authorisation constitutes a serious violation under Paragraph 2(b) of Article 122 of the Financial System Act of Macao and is subject to a fine of up to MOP 5 million,” said the AMCM.
Photo: Yourpay’s website
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