Payment Service providers: Licence application

What is a payment service provider licence?

MAS regulates the activities carried out in relation to cryptocurrencies. Under the Payment Services Act 2019, a payment service provider licence (PS licence) is required if a person or business engages in any of the regulated activities stipulated in the Payment Services Act 2019.

According to MAS (Pages)
last revised on 23 September 2021

Payment service providers and payment systems are both regulated under the Payment Services Act 2019 ("PS Act"). Payment service providers are licensed to provide specified payment services under the PS Act. Payment systems facilitate the transfer of funds between or among participants and may be designated under the PS Act for closer supervision.