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.

Consultation number:

P005-2019

Start date:

10 April 2019

Closing date:

10 May 2019

MAS response date:

05 December 2019

Status:

Responded

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

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 Explanatory Brief on the Payment Services Bill provides the background and key provisions of the Bill.