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 on 14 January 2019. You may find further information on the PS Act below:
Notice to exempt payment service providers on the application of anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements to the provision of payment services for specified products
Anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements to facilitate the transition of existing stored value facility holders
Notice issued under the Payment Services Act 2019 on regulated entities’ obligation to report suspicious activities and incidents of fraud.
Requirements for digital payment token service providers on anti--money laundering (AML) and countering the financing of terrorism (CFT)
Requirements for payment service providers (other than a digital payment token service provider) on anti-money laundering (AML) and countering the financing of terrorism (CFT)
Provides clarifications to some frequently asked questions on the Payment Services Act.
This consultation sets out MAS’ proposed notices and guidelines applicable to entities regulated under the Payment Services Act 2019, to effect the objectives of the 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.
This consultation sets out MAS’ proposed regulations and order applicable to entities regulated under the Payment Services Act 2019, to effect the objectives of the 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.
This consultation sets out MAS’ proposals for an activity based payments framework and the establishment of a national payments council.
