Singapore: Monetary Authority Consults on Proposed Payments Services Notices and Guidelines

On July 5, 2019, the Monetary Authority of Singapore (MAS) released a consultation paper on proposed payment services notices and guidelines. 

The consultation follows the adoption of the Payment Services Act 2019, which is targeted to enter into force in January 2020. The Payment Services Act of 2019 repeals the Payment Systems (Oversight) Act (Cap. 222A) (PS(O)A) and the Money Changing and Remittance Businesses Act (Cap. 187) (MCRBA). Under the new act, the MAS will regulate significant payment systems and the provision of payment services in Singapore. 

Request a Free Trial

As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.

Take a Trial