Consultation Paper on Proposed Payment Services Regulations
Date: 10 April 2019; Type: Consultation Paper; Date of Expiry: 10 May 2019; Source: Monetary Authority of Singapore
The Payment Services Bill (the Bill) was introduced and passed in Parliament on 19 November 2018 and 14 January 2019 respectively. Under the Payment Services Act 2019 (PS Act), the Monetary Authority of Singapore (MAS) will regulate significant payment systems and the provision of payment services in Singapore. To effect the objectives of the PS Act, MAS intends to prescribe three sets of regulations and one order. MAS seeks comments on the proposed Payment Services Regulations by 10 May 2019.