Regulatory Alerts2024-04-02
Added
Payment Services Regulations 2019
The Monetary Authority of Singapore issued the Payment Services Regulations 2019 to establish licensing and ongoing compliance requirements for entities regulated under the Payment Services Act. These regulations define obligations for designated payment system operators, standard and major payment institutions, and money-changing licensees, while also outlining specific exemptions from the Act. Additionally, the document references subsequent amendments and consultation papers regarding incident reporting guidance and proposed limits on e-money accounts issued by major payment institutions.
Regulations
Last Revised Date: 02 April 2024
Payment Services Regulations 2019
These Regulations apply to all entities regulated under the Payment Services Act and set out licensing and other ongoing requirements. Exemptions from certain requirements of the Act can also be found in these Regulations.
Applies to:
Designated Payment System Operator
,
Designated Payment System Settlement Institution
,
Standard Payment Institution
,
Major Payment Institution
,
Money-changing Licensee
View Document
Payment Services Regulations 2019
2 April 2024
Payment Services (Amendment) Regulations 2024
This circular provides guidance on how financial institutions should report incidents to MAS under the various acts, regulations, notices, circulars and guidelines.
MAS sets out in this consultation paper the proposed amendments to limits currently imposed on each personal payment account that contains e money (“e-wallet”) issued by Major Payment Institutions. MAS invites comments from interested parties on the proposals set out in the consultation paper.
Consultation number:
P006-2022
Start date:
18 October 2022
Closing date:
25 November 2022
MAS response date:
07 July 2023