What Payment Services Act 2019 - Part 2 Licensing of Payment Service Providers requires
This regulation mandates that any entity providing payment services in Singapore must obtain a licence, maintain a local place of business, notify the Authority of specific events, submit periodic reports, and secure approval for key personnel.
Pillar: Banking & Global Finance · Authority: Parliament of Singapore · Version: 1.0.0 · Last updated:
Primary source: https://sso.agc.gov.sg/Act/PSA2019?WholeDoc=1
SHA-256 integrity: df139a8d7dedd25b7535607da84a74c78033100fad0e68377ba4d692f0aed02e
Primary Citations — 8 traced to source
- Part 2, section 5: a person must not carry on a business of providing any type of payment service in Singapore unless the person has in force a licence in respect of the provision of that type of payment service
- Part 2, section 10: Every licensee must pay the prescribed annual fee to the Authority.
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