The Payment Services Bill was introduced in Parliament on 19
November 2018 and passed on 14 January 2019. 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.
The Act consolidates and will replace the Payment Systems
(Oversight) Act (Cap. 222A) ("PS(O)A") and the
Money-Changing and Remittance Businesses Act (Cap. 187)
("MCRBA") at the date of its commencement.
The MAS is currently inviting comments on the following proposed
regulations and order to effect the objectives of the PS Act:
- Payment Services Regulations
("PS Regulations")
- Payment Services (Exemptions for a
limited period of time) Regulations
