Showing 4089 Documents for "payment services"
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- MAS
- Consultations
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- This consultation paper sets out the proposed legislative amendments to the Deposit Insurance Act (Cap. 77A) that will give effect to MAS' proposed changes to the Deposit Insurance and Policy Owners' Protection Schemes. Response VIEW DOCUMENT Response to Feedback: Deposit Insurance and Policy Owners' Protection Schemes Bill (92.2 KB) Consultation Paper VIEW DOCUMENT Consultation Paper on Deposit Insurance and Policy Owners' Protection Schemes Bill (530.7 KB) RESPONSE TO FEEDBACK RECEIVED CONSULTATION
- MAS
- Monographs/Information Papers
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- MAS partnering with R3, a DLT company, and a consortium of financial institutions on a proof-of-concept project to conduct inter-bank payments using Blockchain technology. The consortium includes the following financial institutions: ul { margin-left: 40px; padding-left: 40px; } Bank of America Merrill Lynch Credit Suisse DBS Bank Hongkong and Shanghai Banking Corporation (HSBC) Limited JP Morgan Mitsubishi UFJ Financial Group OCBC R3 Singapore Exchange (SGX) United Overseas Bank (UOB
- MAS
- Speeches
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- Digital asset activities involving payment services must be licensed under the Payment Services Act. We recognise there is some frustration about MAS’ licensing process. Some industry players have described it as “a slow and tedious ordeal”; others as a “bugbear for the fast-moving space”.
- Some firms like Mastercard have integrated popular stablecoins into their payment services. This can be a positive development if stablecoins can make payments cheaper, faster, and safer. But to reap the benefits of stablecoins, regulators must ensure that they are indeed stable.
- MAS
- Speeches
Last revised date:
- A good example of our attempt to do this is the new Payment Services Bill, which we will publish for public consultation next week. Our aim is to right-size the regulations, to fit the various new developments that are taking place in electronic payments.
- MAS
- Parliamentary Replies
Last revised date:
- For the Parliament Sitting on 26 February 2021 U – Prime Minister’s Office That the total sum to be allocated for U – Prime Minister’s Office of the Estimates be reduced by $100. Name and Constituency of MP Ms Jessica Tan Soon Neo, East Coast GRC Question 1. Covid-19 has provided the impetus for many Singaporeans and businesses to adopt and use e-payments. Can MAS give an update on whether Singapore residents have been more receptive to e-payments in the past year. What steps has MAS taken to ensure
- PDPC
- Commission's Decisions
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- Directions were issued to GrabCar for failing to put in place reasonable security arrangements for GrabHitch drivers to protect the personal data of passengers that used GrabHitch services. Personal data of some GrabHitch passengers were disclosed by GrabHitch drivers without consent on social media. Click here to find out more. PERSONAL DATA PROTECTION COMMISSION [2019] SGPDPC 14 Case Nos DP-1702-B0508/DP-1703-B0613 In the matter of an investigation under section 50(1) of the Personal
- MAS
- Media Releases
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- Financing, Payment and Service Connectivity 16. We appreciate the efforts of the Working Committee on Payment and Settlement Systems (WC-PSS) in working towards creating an enabling environment that promotes regional linkages and payment systems that are safe and efficient.
- MAS
- Notices
Last revised date:
- SFA means the Securities and Futures Act 2001; [MAS Notice 626 (Amendment) 2022] [MAS Notice 626 (Amendment) 2022] specified payment service means any of the following service: (a) a digital payment token service; (b) a digital payment token transfer service; (c) a custodian wallet
- Act; [MAS Notice 626 (Amendment) 2022] [MAS Notice 626 (Amendment) 2022] digital payment token service has the same meaning as defined in section 2(1) of the PS Act; [MAS Notice 626 (Amendment) 2022] 1 In the case of a limited liability partnership or a limited partnership. 4 --
- MAS Notice 626 (Amendment) 2022] PS Act means the Payment Services Act 2019; [MAS Notice 626 (Amendment) 2022] [MAS Notice 626 (Amendment) 2022] 6 -------- reasonable measures means appropriate measures which are commensurate with the level of money laundering or terrorism financing risks;
- MAS
- Notices
Last revised date:
- PSN03 under the Payment Services Act 2019 1.
- Notice issued under the Payment Services Act 2019 on regulated entities’ obligation to report suspicious activities and incidents of fraud.
- .: PSN03 Notice to licensees, operators of designated payment systems and settlement institutions of designated payment systems Payment Services Act 2019 (Act 2 of 2019) Issue Date: 5 December 2019 NOTICE ON REPORTING OF SUSPICIOUS ACTIVITIES & INCIDENTS OF FRAUD This Notice
- MAS
- Parliamentary Replies
Last revised date:
- The Payment Services Act (PS Act) came into effect on 28 January 2020.
- Since the commencement of the PS Act, MAS has received over 580 licence applications, of which 415 had notified MAS within the specified period and were exempted from licensing. To date, 87 applications have been approved, 11 rejected, and 147 applications withdrawn after engagement with MAS.
- As part of the transitional arrangements, entities that were engaged in regulated activities before the commencement of the PS Act were exempted from holding a licence if they submitted licence applications before July 2020 for digital payment token (DPT) activities, or January 2021 for the other regulated