Entities that have notified MAS pursuant to the Payment Services (Exemption for Specified Period) Regulations 2019 ("Exemption Regulations")

The following entities have been granted an exemption from holding a licence under the Payment Services Act ("PS Act") for the specific payment services for a specified period. Please note that these entities are not licensed under the PS Act to provide the specific payment services, but are allowed to continue to provide the specific payment services.

 

The exemption will cease after the specified period; or if the entity submits a licence application under the PS Act, on the date that the application is approved or rejected by MAS, or withdrawn by the applicant.

Entities that have been providing the specific payment services before the commencement of the PS Act, but have failed to notify MAS pursuant to the Exemption Regulations will be in breach of the notification requirements under the Exemption Regulations. These entities are not licensed or exempt from holding a licence to provide the specific payment services. Such entities should contact MAS immediately.

The list of entities that are no longer exempt from holding a licence under the PS Act can be found here. Please refer to the Financial Institutions Directory for the full list of entities that are licensed by MAS, or approach the entity for more information on their exemption status.

   Specific Payment Services
Providing account issuance service Providing domestic money transfer service Providing inward cross-border money transfer service Providing merchant acquisition service

Issuing e-money where the total float held by the e-money issuer does not exceed S$30 million

Providing digital payment token service
Specified period

 12 months from commencement

(i.e. 28 January 2021)

 6 months from commencement

(i.e. 28 July 2020)*

2C2P PTE. LTD.
ALETA PLANET VBA PTE. LTD. (fka AletaCard SG Pte. Ltd.)      
ALIPAY SINGAPORE E-COMMERCE PRIVATE LIMITED    
ALIPAY SINGAPORE INVESTMENT HOLDING PTE. LTD.  
AMAZINGTECH PTE LTD          
ANDURIL PTE. LTD.          
ASCAN MARKETING SERVICES PTE LTD  
   
ASPIRE FT PTE. LTD.    
BEECONOMIC SINGAPORE PTE LTD        
BITSTAMP LIMITED  
BSQUARED TECHNOLOGY PTE. LTD.          
CC FINANCIAL SERVICES PTE LTD      
CODA PAYMENTS PTE. LTD.    
COINCOLA SINGAPORE PTE. LTD.          
COINUT PTE. LTD.      
COLD STORAGE SINGAPORE (1983) PTE LTD        
CUMBERLAND SG PTE. LTD.          
DELIVERY HERO (SINGAPORE) PTE. LTD.      
EBANX PTE. LTD.    
E-BUY INFORMATION TECHNOLOGY (INTERNATIONAL) PTE. LTD.      
ENETS PTE. LTD.
   
FLEXM PTE. LTD.    
FLY WING TECHNOLOGIES PTE. LTD.          
GEMINI TRUST COMPANY, LLC  
GENIE TECHNOLOGIES PTE LTD          
GLOBAL PAYMENTS ASIA-PACIFIC (HONG KONG HOLDING) LIMITED, SINGAPORE BRANCH      
GOOGLE PAYMENT SINGAPORE PTE. LTD.  
HASHKEY TECHNOLOGY SERVICES PTE. LTD.          
HITPAY PAYMENT SOLUTIONS PTE LTD        
HOOLAH SINGAPORE PTE LTD      
 INTERNATIONAL AIR TRANSPORT ASSOCIATION, SINGAPORE BRANCH          
JST DIGITAL TRADING & TECHNOLOGY PTE. LTD.          
LEGATUS GLOBAL PRIVATE LIMITED √     √   √ 
MANUAL-ARTS PTE. LTD.        
MARINA BAY SANDS PTE LTD          
NETWORK FOR ELECTRONIC TRANSFERS (SINGAPORE) PTE LTD  
OKCOIN PTE. LTD.        
OMISE PAYMENT SG PTE. LTD.      
PAY ASIA PTE. LTD.        
QASHIER PTE LTD      
QCP CAPITAL PTE. LTD.          
RAPYD HOLDINGS PTE. LTD.  
RAZER ONLINE PTE LTD    
SFOX PTE LTD    
 SINGAPORE DIGITAL EXCHANGE PTE. LTD. (fka Byte Power X Singapore Pte. Ltd.)            
SINGAPORE POST LIMITED        
SISTIC.COM PTE LTD      
STRIPE PAYMENTS SINGAPORE PTE LTD      
TMF SINGAPORE H PTE. LTD.      
TRANSIT LINK PTE LTD      
WIREX PTE LTD  
WORLD FIRST ASIA PTE LTD
 
 
WORLDPAY PTE LTD      
XFERS PTE LTD   1 

* Entities that provide a combination of payment services which includes digital payment token services should submit one application for all their payment services by 28 July 2020.

¹ This is in line with the update of the Frequently Asked Questions (FAQs) on the PS Act on 7 March 2022 that sets out that stablecoins may meet the definition of “digital payment token”. Please refer to the FAQs of the PS Act for more information.