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What are the payment services regulated under the Payment Services Act (PS Act) that require a licence?

Updated by MAS
MAS regulates 7 types of payment services under the PS Act. 

Payment service providers must hold a licence to provide these payment services in Singapore: 
  • Account issuance service.
  • Domestic money transfer service.
  • Cross-border money transfer service.
  • Merchant acquisition service.
  • Digital payment token service.
  • E-money issuance.
  • Money-changing service.

Find out about what each of these payment services entail.

This information is sourced from MAS.

Topics:

PaymentsPayment Service Licensing

Related questions

How does MAS determine whether to designate a payment system under the Payment Services Act (PS Act)?

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Are all services relating to payments regulated under the PS Act? If not, then why not? What are some of the services relating to payments that are not regulated as payment services under the PS Act?

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What are the types of payment service provider licences I can apply for?

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Can foreign companies apply for a licence and are the requirements the same as those for local companies?

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