Authors: Peiying Chua Heikes, Evan Lam

MAS’ proposals to operationalise amendments to the PS Act

On 8 May 2023, the MAS published a consultation paper on proposed amendments to the Payment Services Regulations 2019; and several notices issued in connection with the Payment Services Act 2019.

The Consultation Paper follows a previous round of consultation on proposed amendments to the PS Act. The MAS has since responded to the feedback received, and the amendments to the PS Act has been passed in the Singapore parliament on 4 January 2021 under the Payment Services (Amendment) Act.