Singapore broadens push into e-payments

Singapore is moving ahead in the e-payments space

Singapore is moving ahead in the e-payments space by expanding its regulatory frameworks and launching a standardised quick response (QR) code.

The Monetary Authority of Singapore has launched the second consultation on its payment services bill – the new regulatory framework for payments, which combines the two existing but separate pieces of legislation on payment and remittance.

Under the new bill, payment firms will be regulated under a single framework, and will only need to hold one

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