Payments in Singapore

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Useful information on payment services in Singapore

Payment Regulations

What are the licensing, regulations and guidance for payment service providers and payment systems in Singapore?

What are the regulatory framework for payment services and systems?

The Payment Services Act 2019 ("PS Act") is a forward looking and flexible framework for the regulation of payment systems and payment service providers in Singapore, and provides for regulatory certainty and consumer safeguards, while encouraging innovation and growth of payment services and FinTech. Payment service providers and payment systems are both regulated under the PS Act. Read more about it here.

Guide to PS Act: View the guide for information on the essential aspects of the PS Act

FAQs on the PS Act: View the FAQs for clarifications to frequently asked questions on the PS Act

What payment systems are designated under the Payment Services Act?

Key E-Payments Initiatives and FinTech developments

Want to learn more about the state of the e-payments ecosystem in Singapore, and MAS' strategies and initiatives to make Singapore an e-payment society?

How is MAS creating a Smart Financial Centre through FinTech and innovation?

What is the Singapore Quick Response Code (SGQR)?

SGQR is the world's first unified payment QR code that accepts e-payments by both domestic and international payment schemes, e-wallets, and banks. It combines multiple payment QR codes into a single SGQR label, making QR payments simple for both consumers and merchants.

In particular, where you are interested in working with merchant acquirers already in the SGQR market, you may refer to the list of SGQR members within this link, and we encourage you to reach out to these merchant acquirers directly for your commercial discussions.

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