Singapore: Implemented Payment Services Act (PS Act) including licensing requirement for payment service providers
Description
Implemented Payment Services Act (PS Act) including licensing requirement for payment service providers
On 30 June 2022, all the Payment Services Act (PS Act) sections entered into force. The Act regulates seven payment activities, including account issuance services, domestic money transfer services, cross-border money transfer services, merchant acq…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Operational license requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government
Complete timeline of this policy change
Hide details
2018-11-19
under deliberation
2019-01-14
adopted