Payment services: Account issuance service
What are the types of payment accounts that fall within the scope of "account issuance service"?
An account issuance service includes the service of issuing a payment account to any person in Singapore.
The following are some examples of "payment account":
- A bank account;
- A debit card;
- A credit card;
- A charge card;
- An e-wallet.
An account that stores only DPTs may not be a payment account.
An e-wallet top-up service may also not be considered an "account issuance service", if the service provider accepts money from a customer for the purpose of sending the money to an e-wallet operator, so that the e-wallet operator can top up the customer's account.