Money Service Operators (MSOs) Explained: How They Work & Why They Matter
Money laundering. Terrorism financing. Financial fraud. Hong Kong has one of the most secure financial systems to combat these risks. But did you know that banks aren’t the only financial players in the city?
Money Service Operators, or MSOs, play a critical role in Hong Kong’s financial system, yet many business owners still confuse them with banks or overlook how important they really are.
In this video, Vincent, Payments Manager at Statrys, explains what an MSO is, how MSOs are regulated in Hong Kong, and why they matter for businesses sending money across borders or dealing with multiple currencies. He also breaks down how MSOs are licensed, what obligations they must meet, and why using a licensed MSO is essential for compliance and payment reliability.
If you’ve ever wondered how non-bank payment providers operate in Hong Kong, or whether MSOs are safe to use, this video gives you the clarity you need.
Key Takeaways
- What a Money Service Operator (MSO) is in Hong Kong
- How MSOs differ from traditional banks
- Who licenses and regulates MSOs in Hong Kong
- What “fit and proper” requirements mean in practice
- Why MSOs play a key role in cross-border payments and FX
- What obligations licensed MSOs must follow
- When it makes sense for businesses to use an MSO
- How to check if an MSO is properly licensed
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