Provides clarifications to some frequently asked questions on the Payment Services Act.

A consultation paper on new Notices to payment services providers on the prevention of money laundering and countering the financing of terrorism, which applies to 3 classes of licensees – Money-Changing licence, Standard Payment Institution licence, and Major Payment Institution licence.

Consultation number:

P010-2019

Start date:

06 June 2019

Closing date:

05 July 2019

MAS response date:

01 January 0001

Status:

Responded

The Payment Services (PS) Act is a forward looking and flexible framework for the regulation of payment systems and payment service providers in Singapore. It provides for regulatory certainty and consumer safeguards, while encouraging innovation and growth of payment services and FinTech. Parliament passed the PS Act...

This consultation sets out the proposed Payment Services Bill which MAS developed to streamline payment services under a single legislation and calibrate regulations according to the risks the activities pose by adopting a modular regulatory regime.

Consultation number:

P021 - 2017

Start date:

20 November 2017

Closing date:

08 January 2018

MAS response date:

19 November 2018

Status:

Responded

This consultation sets out MAS’ proposals for an activity based payments framework and the establishment of a national payments council.

Consultation number:

P009 - 2016

Start date:

25 August 2016

Closing date:

31 October 2016

MAS response date:

02 August 2017

Status:

Responded