How FinTech companies can thrive and navigate through the new Payment Services Act 2019

Payment Services Act 2019

The Payment Services Act 2019 (PS Act) came into force on 28 January 2020, commencing a new era in Singapore payments regulations. The new PS Act aims to enhance the regulatory framework payment services in Singapore to strengthen consumer protection and promote confidence in the use of e-payments. To help firms transit to this new regulatory regime, it has initiated a Payment Regulatory Evaluation Programme (PREP) to connect them with legal services providers to support this transition.

RHTLaw Asia is proud to be one of the legal advisors recommended by the Singapore Academy of Law (SAL).

You may wish to refer to the information sheet, questionnaire and framework for the Initial Legal Memo provided by SAL to guide you along the process.

Lexology Webinar: Singapore’s Payment Services Act Practical and Legal Implications

Our partner, Ch’ng Li-Ling has previously conducted a webinar highlighting the practical and legal implications of the PS Act. It talks about how the PS Act will affect FinTech activities in Singapore and what action FinTech firms should take to keep up with these new changes. Find out more below.

Webinar Recording

Presentation Slides

Our Financial Services (Regulatory) Team

RHTLaw Asia is a market leader in this sector and has worked with international companies, both in the financial services and technology sectors, providing a wide variety of solutions. Our team advises financial institutions, FinTech firms, investors on:

1. Acquisitions, capital-raising,
2. MAS regulatory requirements for capital markets services providers, operators of organised markets, and payment services providers,
3. Digital token issuances,
4. Establishing digital assets exchanges, e-payments platforms.

We are passionate about learning how innovation is transforming financial services. We regularly contribute thought leadership articles, and profile at seminars, on capital markets issues, implications of Fintech developments on corporate finance and securities regulations.

Ch’ng Li-Ling Partner, Acting Head, Financial Services (Regulatory) Practice	Amanda Chen Partner, Corporate and Capital Markets Practice	Jeremiah Huang Partner, Corporate and Capital Markets Practice	Ng Yi Wayn Partner, Corporate and Capital Markets Practice

Our Financial Services (Regulatory) practice has worked with:

• Regional Regulators
• Aggregators
• Equities and Debt (peer to peer) Crowdfunding Platforms
• Robo-Advisors
• Wealth/Financial Advisory Platforms
• Distributed Ledger Technologies (DLT) Platforms
• Digital Asset (commodities and securities) Exchange Platforms
• Cryptocurrency Exchanges
• InsurTech Platforms
• Mobile Apps
• Payment Technologies (including remittance, payment getaways, e-monies, stable coins)
• RegTech Providers

Reach out to the Financial Services (Regulatory) team to find out more.