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Please be aware that there is a high volume of applications, and there will be a significant waiting period before an officer is available to review your application. If you proceed with this application, please note that the current estimated waiting period is more than a year. We are unable to provide a better estimate at this time.

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Applicants must submit Form 1 online to apply for a payment services licence or change their entity type. Before you submit Form 1, find out more about How to Apply.

About Form 1
Form 1 applies to the following:

• Applicants who do not currently hold a licence under the Payment Services Act 2019 (“PS Act”) and wish to apply for a licence.
• Applicants who wish to change their entity type between a sole proprietorship, partnership, or company or corporation.
 

View Specimen Form
You may refer to the following PDF specimen form to prepare your application submission. This specimen form should not be submitted to MAS. Only submissions via the online form will be accepted.

You should also refer to the following explanatory notes before you file your application.


Explanatory Notes

1.  It is important to read the Guidelines on Licensing for Payment Service Providers before completing Form 1.

2.  Form 1 must be completed in English unless stated otherwise.

3.  You must provide all applicable supporting documents listed in the application checklist. 
    - Attachments should be provided in a searchable and comment-enabled format and must be provided in English, or with a certified English translation.
    - If the file size of the attachment is larger than 5MB, you will have to submit the attachment as a zipped file prior to uploading it. 
   - If you are unable to provide all of your supporting documents due to the file size limit, you may provide the remaining documents when contacted by the officer-in-charge. 

4.  All terms used in Form 1 will, except where expressly defined in the form or where the context otherwise requires, have the same meaning as defined in the PS Act or the Payment Services Regulations (PSR).

5.  If there are any changes in the information provided in the application after submission, you will have to notify MAS via email immediately.

6.  You will have to pay a non-refundable application fee for your application submission. 

How to Submit Form 1

Submissions must be made online. Please note that a CorpPass ID with the appropriate access is required. Refer to the Help section for details.