Consultation Paper on Proposed Amendments to Restrictions on Personal Payment Accounts that Contain E-Money
MAS sets out in this consultation paper the proposed amendments to limits currently imposed on each personal payment account that contains e money (“e-wallet”) issued by Major Payment Institutions. MAS invites comments from interested parties on the proposals set out in the consultation paper.
18 October 2022
25 November 2022
MAS Response Date:
07 July 2023
Response date: 07 Jul 2023
The consultation response was published on 7 July 2023.
These Regulations apply to all entities regulated under the Payment Services Act and set out licensing and other ongoing requirements. Exemptions from certain requirements of the Act can also be found in these Regulations.
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...