Date: For Parliament Sitting on 4 August 2026

Name and Constituency of Member of Parliament

Mr Melvin Yong Yik Chye, Radin Mas SMC

Question

Mr Melvin Yong Yik Chye: To ask the Prime Minister and Minister for Finance whether MAS has considered developing a centralised digital service that enables consumers to view and manage their active recurring payment authorisations across financial institutions and payment service providers.

Answer by Mr Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, and Chairman of MAS:

1. Consumers today can manage their recurring payment arrangements directly through the digital platforms of major retail banks and payment service providers. These channels provide customers with the ability to view, amend or terminate recurring payment instructions as needed. There is no need for a centralised service. Nevertheless, MAS will continue to monitor developments and review the need for further measures if circumstances change.

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