The Payment Services Act – An overview

29 Jan 2019 LegisWatch
The Payment Services Bill (“PSB”) (available here) was passed on 14 January 2019, following the issuance of a Consultation Paper in November 2017 (available here), and first and second reading in Parliament on 19 November 2018 and 14 January 2019 respectively.
Our earlier updates on the Consultation Paper and the Bill can be accessed here and here.
The PSB is described as ‘a necessary price in Singapore’s smart nation journey’ and is expected to come into force by the end of the year.
If you would like information on this or any other area of law, you may wish to contact the partner at WongPartnership that you normally deal with or the following partner:
Elaine CHAN
Joint Head – Financial Services Regulatory Practice
d +65 6416 8010
Click here to see Elaine’s CV.