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submits a licence application under the PS Act, on the date that the application is approved or rejected by MAS, or withdrawn by the applicant.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)* |
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2C2P PTE. LTD. | √ | √ | √ | √ | √ | |
AIRWALLET PAYMENTS PTE. LTD. | √ | √ | √ | |||
ALETA PLANET VBA PTE. LTD. (fka AletaCard SG Pte. Ltd.) | √ | √ | √ | |||
ALIBABA.COM SINGAPORE E-COMMERCE PRIVATE LIMITED | √ | √ | ||||
ALIPAY MERCHANT SERVICES PTE. LTD. | √ | √ | √ | |||
ALIPAY SINGAPORE E-COMMERCE PRIVATE LIMITED | √ | √ | ||||
ALIPAY SINGAPORE INVESTMENT HOLDING PTE. LTD. | √ | √ | √ | √ | √ | |
ALPHABIT CONSULTING PTE. LTD. | √ | √ | ||||
AMAZINGTECH PTE LTD | √ | |||||
AMAZON ASIA-PACIFIC HOLDINGS PTE LTD | √ | √ | √ | |||
ANDURIL PTE. LTD. | √ | |||||
ASCAN MARKETING SERVICES PTE LTD | √ | √ | √ | |||
ASPIRE FT PTE. LTD. | √ | √ | √ | |||
BEECONOMIC SINGAPORE PTE LTD | √ | √ | ||||
BITDATA DIGITAL TECH PTE LTD | √ | |||||
BITSTAMP LIMITED | √ | √ | √ | √ | √ | |
BITTOK TECHNOLOGY PTE LTD | √ | √ | √ | |||
BLOCKFORT PTE. LTD. | √ | √ | √ | |||
BSQUARED TECHNOLOGY PTE. LTD. | √ | |||||
CAKE PTE. LTD. | √ | |||||
CC FINANCIAL SERVICES PTE LTD | √ | √ | √ | |||
CODA PAYMENTS PTE. LTD. | √ | √ | √ | |||
COINBASE SINGAPORE PTE. LTD. | √ | |||||
COINCOLA SINGAPORE PTE. LTD. | √ | |||||
COINUT PTE. LTD. | √ | √ | √ | |||
COLD STORAGE SINGAPORE (1983) PTE LTD | √ | √ | ||||
CUMBERLAND SG PTE. LTD. | √ | |||||
DAENERYS & CO PTE LTD | √ | |||||
DELIVERY HERO (SINGAPORE) PTE. LTD. | √ | √ | √ | |||
EBANX PTE. LTD. | √ | √ | ||||
E-BUY INFORMATION TECHNOLOGY (INTERNATIONAL) PTE. LTD. | √ | √ | √ | |||
ECXX GLOBAL PTE. LTD. | √ | |||||
ENETS PTE. LTD. | √ | √ | √ | √ | ||
EZY NET PTE LTD | √ | |||||
FINXPAY PTE. LTD. | √ | √ | √ | √ | ||
FLEXM PTE. LTD. | √ | √ | √ | √ | ||
FLY WING TECHNOLOGIES PTE. LTD. | √ | |||||
FLYWIRE (SINGAPORE) PTE LTD | √ | |||||
GAMER2GAMER GLOBAL PTE LTD | √ | √ | ||||
GEMINI TRUST COMPANY, LLC | √ | √ | √ | √ | √ | |
GENESIS ASIA PACIFIC PTE. LTD. | √ | |||||
GENIE TECHNOLOGIES PTE LTD | √ | |||||
GETZ GROUP PTE. LTD. | √ | |||||
GLOBAL COLLECT B.V. | √ | √ | ||||
GLOBAL COLLECT SERVICES B.V. | √ | √ | ||||
GLOBAL PAYMENTS ASIA-PACIFIC (HONG KONG HOLDING) LIMITED, SINGAPORE BRANCH | √ | √ | √ | |||
GOOGLE PAYMENT SINGAPORE PTE. LTD. | √ | √ | √ | √ | √ | |
GRAVITAS INTERNATIONAL ASSOCIATES PTE LTD | √ | |||||
GSR MARKETS 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. | √ | |||||
LAB MONETA PTE. LTD. | √ | |||||
LEGATUS GLOBAL PRIVATE LIMITED | √ | √ | √ | √ | √ | |
LIONOTC PTE LTD (fka Lionex Pte Ltd) | √ | √ | √ | √ | ||
LIQUIDX, INC | √ | √ | ||||
LUNO PTE. LTD. | √ | |||||
MANUAL-ARTS PTE. LTD. | √ | √ | ||||
MARINA BAY SANDS PTE LTD | √ | |||||
MATCHMOVE PAY PTE LTD | √ | √ | √ | |||
NETWORK FOR ELECTRONIC TRANSFERS (SINGAPORE) PTE LTD | √ | √ | √ | √ | ||
NUVEI SINGAPORE PTE. LTD. (fka Safecharge Pte. Ltd.) | √ | √ | ||||
OKCOIN PTE. LTD. | √ | √ | ||||
OMISE PAYMENT SG PTE. LTD. | √ | √ | √ | |||
ONCHAIN CUSTODIAN PTE. LTD. | √ | |||||
OSL SG PTE LTD | √ | |||||
PAY ASIA PTE. LTD. | √ | √ | ||||
PAYONEER HONG KONG LIMITED SINGAPORE BRANCH | √ | |||||
PUNDI X LABS PTE. LTD. | √ | |||||
QASHIER PTE LTD | √ | √ | √ | |||
QCP CAPITAL PTE. LTD. | √ | |||||
QUOINE PTE. LTD. | √ | |||||
RAPYD HOLDINGS PTE. LTD. | √ | √ | √ | √ | ||
RAZER ONLINE PTE LTD | √ | √ | √ | √ | ||
RED DOT PAYMENT PTE LTD | √ | √ | √ | |||
RIPPLE LABS SINGAPORE PTE. LTD. | √ | |||||
SFOX PTE LTD | √ | |||||
SHUTTLE ONE PTE LTD | √ | |||||
SINGAPORE DIGITAL EXCHANGE PTE. LTD. (fka Byte Power X Singapore Pte. Ltd.) | √ | |||||
SINGAPORE POST LIMITED | √ | √ | ||||
SINOPAY (SINGAPORE) PRIVATE LIMITED | √ | √ | √ | |||
SISTIC.COM PTE LTD | √ | √ | √ | |||
STRAITS FINANCIAL SERVICES PTE. LTD. | √ | √ | ||||
STRIPE PAYMENTS SINGAPORE PTE LTD | √ | √ | √ | |||
TAI MO SHAN LIMITED SINGAPORE BRANCH | √ | |||||
TAURUS ONE PRIVATE LIMITED | √ | √ | √ | |||
TMF SINGAPORE H PTE. LTD. | √ | √ | ||||
TRANSIT LINK PTE LTD | √ | √ | √ | |||
UNIWEB PTE LTD | √ | √ | √ | |||
UPBIT SINGAPORE PTE LTD | √ | |||||
WESTERN UNION BUSINESS SOLUTIONS (SINGAPORE) PTE. LTD. | √ | √ | √ | √ | ||
WIREX PTE LTD | √ | √ | √ | √ | √ | |
WORLD FIRST ASIA PTE LTD | √ | √ | √ | |||
WORLDPAY PTE LTD | √ | √ | √ | |||
WULIANWANG TECHNOLOGY PRIVATE LIMITED | √ | √ | √ | √ | ||
XFERS PTE LTD | √ | √ | √ | √ | √1 | |
YYLIFE PTE LTD | √ | √ | √ | |||
ZIPMEX PTE LTD | √ |
* 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.