Regulations for all Payment Services Providers
Are there any licensing exemptions for money transfer services?
According to MAS (PS Act Guide)
[D]omestic money transfer service providers that only facilitate the domestic leg of cross-border money transfers on behalf of a customer of
a) a licensed cross-border money transfer service provider;
b) a person who is exempted from holding a licence to perform cross-border money transfer service under regulation 28(1) of the Payment Services Regulations; or
c) an exempt payment service provider,
do not need to hold a licence to provide cross-border money transfer services.