Showing 4089 Documents for "payment services"
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- MAS
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- payment services.
- It also expands MAS’ regulatory ambit to include new types of payment services, such as digital payment token services.
- Singapore, 28 January 2020… The Monetary Authority of Singapore (MAS) today announced the commencement of the Payment Services Act (PS Act).
- MAS
- Forms and Templates
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- For more information, visit go.gov.sg/corporate-login Resources Form 1 - Application for a Payment Service Provider Licence (Declaration) (496.4 KB) PAYMENT SERVICES ACT 2019 (ACT 2 OF 2019) PAYMENT SERVICES REGULATIONS FORM 1 APPLICATION FOR A PAYMENT SERVICE PROVIDER LICENCE UNDER SECTION 6
- (1) OF THE PAYMENT SERVICES ACT 2019 READ WITH REGULATION 6 OF THE PAYMENT SERVICES REGULATIONS Explanatory Notes (Full name of applicant as per ACRAs record) 1.
- An existing holder of any licence under the PS Act, which intends to vary its licence under section 7 of the PS Act, must submit an application in Form 2. 2. 3. 4. It is important to read the Guidelines on Licensing for Payment Service Providers before completing this form.
- MAS
- Monographs/Information Papers
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- Similar to trade where goods are exchanged for payment, there is a need to validate the services rendered before payment is made.
- This ensures that the progress of delivery of healthcare services and payments are closely integrated, avoiding a mismatch between them.
- The partners had use cases catering for different industries, which enabled the testing of different additional payments functionalities such as DvP settlement, escrow services and conditional payments.
- MAS
- Monographs/Information Papers
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- In Singapore specifically, front-end retail payment services are currently dominated by a few large providers.
- For example, WhatsApp charged merchants a 4% fee per transaction for its payment services in Brazil (Reuters, 2020).
- The supply side of the economy would benefit directly from the introduction of a new, state-of-the-art payment system, as well as the competitive pressure it exerts on the existing market for payment services. The cost of payment services could thus decline.
- MAS
- Consultations
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- As exempt payment service providers (as defined in the PS Act), credit card or charge card licensees that perform payment services will not have to comply with MAS Notice PSN0112, which is the AML/CFT Notice that applies to PS Act licensees providing specified payment services.
- However, banks, merchant banks, finance companies and credit card or charge card licensees are exempt payment service providers (as defined in the PS Act) and are thus exempted from licensing under the PS Act, in respect of the DPT services they provide.
- Payment Service Licence (Specified Payment Service) (PSN01) Monetary Authority of Singapore 14 -------- Question 8.
- MAS
- Regulations
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- Sets out the circumstances under which financial advisers are permitted to receive or accept remuneration. 08 Oct 2018 Financial Advisers (Remuneration) (Amendment) Regulations 2018 09 Mar 2017 Financial Advisers (Remuneration) (Amendment) Regulations 2017 (236.9 KB) 1 S 81/2017 First published in the Government Gazette, Electronic Edition, on 9 March 2017 at 5 pm. No. S 81 FINANCIAL ADVISERS ACT (CHAPTER 110) FINANCIAL ADVISERS (REMUNERATION) (AMENDMENT) REGULATIONS
- MAS
- Media Releases
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- We look forward to working with all the other participants in this pilot launch to make digital payment services relevant for everyone.
- The direct connection to FAST and PayNow provides an added boost to non-financial institutions like Liquid to innovate and catalyse the adoption of the next generation of payment services.
- NFIs that are licenced as major payment institutions under the Payment Services Act will be allowed to connect directly to Fast and Secure Transfers (FAST) FAST is an electronic funds transfer service that enables customers of participating entities to transfer Singapore dollar funds from one entity
- MAS
- Monographs/Information Papers
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- Cross-border payment services may not be available on weekends.
- Focusing on the implications of compliance requirements can provide an insight into the challenges facing cross-border payment service providers.
- for a In its initial steps to enhance RTGS, the Bank of England has issued new criteria to enable non- bank payment service providers to access RTGS directly.
- MAS
- Monographs/Information Papers
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- As the PS Act is intended for commercial DPSs, MAS is exempted from the PS Act as an operator, settlement institution and participant of MEPS+.
- Notwithstanding that MAS is exempted from the PS Act, MAS holds itself to similar standards as those expected of an operator and settlement institution of a DPS under the PS Act.
- Monetary Authority of Singapore 3 -------- Supervision of Financial Market Infrastructures in Singapore 3 Regulatory Framework Payment Systems 3.1 MAS powers for the supervision of FMIs are derived from the Payment Services Act 2019 (PS Act) and the Securities and Futures Act (SFA)
- MAS
- Media Releases
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- Singapore, 30 April 2020... The Monetary Authority of Singapore (MAS), the Association of Banks in Singapore (ABS) and the Finance Houses Association of Singapore (FHAS) today announced a second package of measures to support individuals facing financial difficulties due to the COVID-19 pandemic. This second package will extend the scope of relief for individuals to other types of loan commitments, and allow them to continue to have access to affordable basic banking services. 2 On 31 March 2020