Date: For Parliament Sitting on 4 November 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 (a) whether e-wallet service providers are subject to mandatory uptime, maximum unscheduled downtime and system recovery standards; and (b) whether MAS will consider prescribing minimum redundancy and failover requirements to strengthen service continuity.

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

E-wallet service providers regulated under the Payment Services Act 2019 are subject to MAS’ guidelines on technology risk management and business continuity management, including system availability and service recovery time. MAS reviews the adequacy of their system resilience measures and communicates our expectations during our supervisory review, taking into account impact on businesses and customers.

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