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Payments company Qashier turns to Napier for AML controls

Qashier, a Singapore-based integrated point-of-sale (POS) and payment solutions startup, is the latest to adopt our AML technology.

Napier AI
October 13, 2021

Qashier, a Singapore-based integrated point-of-sale (POS) and payment solutions start-up, is the latest to adopt our anti-money laundering (AML) technology.  

Having recently applied for the Major Payment Institution license under the Singapore Payment Services Act (PSA), Qashier will use Napier’s Transaction Monitoring, Client Screening, Risk-Based Scorecard and Client Activity Review tools to help identify suspicious activity as it happens, and comply with Monetary Authority of Singapore (MAS) regulations.  

Founded by Christopher Choo and Frank Zhao in February 2019, Qashier’s advanced platform powers small and medium-sized retail and food and beverage businesses by combining a smart POS system, integrated payment acceptance, and advanced software solutions which include table management, online ordering, and customer loyalty.  

Eric Peh, Head of Compliance at Qashier, said: “The Government of Singapore is aiming for a cashless economy by 2025, yet many small businesses are still struggling with the cost and complexity of standard POS systems. At Qashier, we are experiencing heightened interest from a variety of businesses for our technology and as we continue to expand, it is crucial to have an AML offering that will scale with us, allowing us to play our part in preventing financial crime. Napier’s solution not only satisfies that need, but the platform is also customised to our requirements, something that we couldn’t find in other vendors.”

Robin Lee, Head of APAC at Napier, said: “As we head further towards a cashless society, we’re mindful that this also opens up new opportunities for criminals. It’s imperative that financial service providers can leverage the best technology available to stay ahead of the threat with robust compliance systems. Through our AI-enhanced technology, organisations can make validated decisions with speed and accuracy, rapidly strengthening their AML defences and compliance capabilities.”

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