Central Banking

Singapore non-bank firms can use real-time payments systems – MAS

Singapore skyline

Some non-bank financial institutions in Singapore will gain direct access to its retail payment infrastructure from February 2021, the country’s central bank announced.

Only institutions licensed as “major payment institutions” under the Payment Services Act will be eligible, the Monetary Authority of Singapore said today (November 30). They could be given access to Singapore’s two real-time payments systems, Fast and Secure Transfers (Fast) and PayNow,

“Our vision to enable complete real-time

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

FedNow – at last

The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.