Accelerating the Pace of Digital Transformation in Singapore

Navigating the Payment Services Act


Start Date:

25/09/2020 16:00

End Date:

25/09/2020 17:30

Accelerating the Pace of Digital Transformation in Singapore

Recent developments in FinTech have transformed Singapore’s landscape for payment, remittance and digital token services. In the Monetary Authority of Singapore's efforts to promote e-payments in Singapore, the PSA came into effect on 28 January 2020 to regulate the payment ecosystem, covering seven regulated payment activities.

With the commencement of the PSA, there will be a significant impact on the industry, specifically for businesses providing the following services:

  • Digital payment tokens service
  • E-money / E-wallet 
  • Cryptocurrency exchanges and platforms

To provide guidance to business owners in understanding the regulatory requirements of the PSA, ACCESS and Crowe Singapore  organized a webinar on Friday, 25 September 2020.

Programme Outline:

  • What are the focus areas for regulatory compliance?
  • What are the tax considerations for PSA applicants?
  • What are the key audit challenges?
  • How do you navigate the requirements of Technology Risk Management?
  • How do you maintain documentation and assess effectiveness of internal controls?

Payment Services Act ("PSA")

The PSA was launched by MAS on 14 January 2019 with a primary focus to regulate companies in the FinTech industry offering various types of payment systems and payment services, including digital payment token services.