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:
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.
Payment Services Act ("PSA")