Showing 4089 Documents for "payment services"
Filter by
Sort by
- MAS
- Monographs/Information Papers
Last revised date:
- These FX transactions support activities such as hedging risk, payments for services outside domestic markets, and international trading and investment.
- Today, most cross-border payments flow through a network of correspondent banks and payment service providers that have access to domestic payment systems in the countries of both the originator and beneficiary. These payments are facilitated by instructions sent via SWIFT payment messages.
- MAS
- Speeches
Last revised date:
- AML/CFT measures to be imposed, when the PS Act takes effect later this year.
- Progressive Regulations 4 First, on progressive regulations. 5 MAS recently passed the Payment Services Act. Once commenced, the PS Act will enlarge the scope of payment activities covered under MAS’ AML/CFT regulation.
- This activity-based approach ensures that ML/TF risks within the payment industry will be appropriately addressed. 7 The PS Act is also forward looking as it will introduce a regulatory framework for digital payment token services.
- PDPC
- Public Consultations
Last revised date:
- September 2013 Closing Note for the Public Consultation on Business Operation of Do Not Call Registry June 2013 The Public Consultation on the business operation proposed for the Do Not Call (DNC) registry has closed on 14 June 2013. Responses received at closing date on 14 June 2013 May 2013 The Consultation Paper sought views from the public on the business operation proposed for the Do Not Call (DNC) registry for individuals and organisations to be made under the Personal Data Protection Act 2012
- MAS
- Media Releases
Last revised date:
- Singapore, 21 February 2023…The Monetary Authority of Singapore (MAS) and the Reserve Bank of India (RBI) today launched the linkage between Singapore’s PayNow and India’s Unified Payments Interface (UPI). This will enable customers of participating financial institutions in Singapore and India Singapore participants are DBS and Liquid Group. India participants are Axis Bank, DBS India, ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India. Liquid Group is the first non-bank financial
- MAS
- Parliamentary Replies
Last revised date:
- If they are offering mainly payment solutions, depending on the specific type of payment service they provide, they may be subject to a narrow set of regulatory requirements pertinent to that payment service. 3 For example, PayPal, an online payment platform that facilitates e-commerce transactions
- Likewise, Singtel’s mRemit 1 , a remittance service on mobile phones, is licenced under the Money-Changing and Remittance Businesses Act. 4 More non-bank FinTech payment companies are coming onto the scene, offering a variety of payment services.
- To better calibrate its regulatory requirements to the various modes of innovative payment services, MAS has put out for consultation a new, streamlined activity-based regulatory framework for payments. The aim is to promote innovation, ensure security, and foster consumer confidence.
- MAS
- Parliamentary Replies
Last revised date:
- DPT service providers are currently regulated under the Payment Services Act (PS Act) primarily for money laundering and terrorism financing risks.
- But the PS Act also empowers MAS to impose additional measures on DPT service providers to ensure better consumer protection, and to maintain financial stability and safeguard the efficacy of monetary policy. 4.
- All entities dealing in cryptocurrencies (termed digital payment token or DPT service providers) in Singapore are expected to comply with the MAS guidelines.
- MAS
- Forms and Templates
Last revised date:
- PAYMENT SERVICES ACT 2019 (ACT 2 OF 2019) PAYMENT SERVICES REGULATIONS FORM 5 INFORMATION TO BE SUBMITTED BY A PARTICIPANT, OPERATOR OR SETTLEMENT INSTITUTION OF A PAYMENT SYSTEM UNDER SECTION 41(1) OF THE PAYMENT SERVICES ACT 2019 READ WITH REGULATION 21 OF THE PAYMENT SERVICES REGULATIONS
- such. 1 -------- a participant an operator a settlement institution Pursuant to section 41(1) of the Payment Services Act 2019, the Authority hereby requires ____________________________, (Full name of entity) being of ____________________________, (Full name
- MAS
- Parliamentary Replies
Last revised date:
- MAS also requires DPT service providers to assess the purpose of their customers’ use of privacy coins, privacy wallets or mixers and to undertake enhanced monitoring of their transactions 6 . 3. Most licensed DPT service providers in Singapore do not offer privacy coins to their customers.
- Token Service and the corresponding paragraphs in the accompanying Guidelines . [6] Paragraphs 6.25 to 6.33 on requirements relating to ongoing monitoring as set out in MAS Notice PSN02 on Prevention of Money Laundering and Countering the Financing of Terrorism – Digital Payment Token Service and the
- Accordingly, MAS requires digital payment token (DPT) service providers engaged in customer transactions involving such anonymity features to put in place stronger controls to address the higher risks they pose.
- MAS
- Speeches
Last revised date:
- Ladies and gentlemen, good morning. What a man and what a story! Shaikh’s story shows how technology can help find innovative solutions to real problems. It shows how innovation guided by empathy can help create a more inclusive society. And of course it is a story that is an inspiration to all of us – to do better, to be better, to help others. That is why we asked Saqib to kick off the third edition of the Singapore FinTech Festival this morning. Because Saqib’s story exemplifies what Singapore
- MAS
- Media Releases
Last revised date:
- Financing, Payment and Service Connectivity 18. The Meeting welcomed the rapid development of an interconnected payments network across the region, making ASEAN a global leader in payments connectivity.