Proposed payments services bill

Written on 25 Jan 2018

On 21 November 2017, the Monetary Authority of Singapore (MAS – the central bank of Singapore) launched a second public consultation on a proposed payment services bill.

This proposed bill comes at a time where payment services have challenged existing legal frameworks – the result of rapid innovations in the payment services space.

Amongst other things, the bill will hopefully inspire more confidence from both merchants and consumers alike in using electronic payments.

Click here to read OC Queen Street’s response – “A Perspective from Tech, Media and Comms, e-commerce and Online Marketplace”.

If you have any questions feel free to contact Chia Ling Koh or Paul Anning