TheMonetary Authority of Singapore(MAS) has amended thePayment Services Actand, thePayment Services Regulations, to cover digital payment tokens (DPTs). According to theMASannouncement on 2 April 2024, the amended laws now regulate all DPT service providers offering DPT custodial services, as well ...
1. Payment services (also called"basic payment services"): refers to the collection and payment services provided by Alipay with Alipay software system and other affiliate systems to you and other customers, including the balance payment, Yu’E Bao payment, and debit card express checkout (but ...
Please refer to theAnnexfor an outline of the expanded scope of activities under these payment services (Newly Scoped-in Payment Services) as set out in the Amendment Act. The Consultation Paper sets out the proposed amendments to be put in place ...
(PS Act), effective from 28 January 2020, is an activities-based, risk-proportionate regulatory regime governing payment service providers (PSPs) and designated payment systems (DPS). The PS Act and the various subsidiary regulations, notices, guidelines and FAQs which supplement it are the ...
If you wish to use Stripe’s payment services again, you will need to create a new Stripe account. Conclusion Stripe’s account-opening requirements are designed to help our users stay up-to-date on new features or changing regulations – including the new requirements introduced by the PSA ...
In this article, you will discover what the German Payment Services Supervision Act is, who and which payment services it affects, and the details that businesses need to pay attention to if they want to comply with the regulations.
We have previously published abriefing on the Payment Services Regulations 2017, which are the regulations by which the UK has implemented the EU’s revised Payment Services Directive 2015/2366 commonly known as “PSD2”, andan update on the requirement for ‘strong customer authentication’ (‘SC...
The Bill proposes to expand the definition of cross-border money transfer services to cover entities in different countries. Depending on the reputational risks and factors surrounding ML/TF, licenses subject to MAS' AML/CFT regulations are to be acquired. ...
The Company is required to comply with all applicable laws, regulations, notices and guidelines issued by the relevant government and regulatory authority, including the Payment Services Act 2019 of Singapore and MAS Notice PSN01 on Prevention of Money Laundering and Countering the Financing of Terrori...
Payment Services Regulations Review and Call for Evidence Press here The Consumer Duty applies from July 2023 Learn more Incoming regulation for cryptocurrency HM Treasury publishes proposals on 1 February 2023 Leran more About the firm Home