Singapore Establishes Payments Council

The Monetary Authority of Singapore (MAS) has announced that it will establish a Payments Council, comprising 20 leaders from banks, payment service providers, businesses, and trade associations. The setting up of the Payments Council is part of a series of initiatives MAS is taking towards realising the vision of an e-payments society in Singapore.

The Payments Council will formally bring together both the providers and users of payment services in Singapore. It is designed to encourage collaboration within the payments industry, promote interoperability among e-payments solutions, develop strategies to drive the pervasive adoption of e-payments, and advise and make recommendations to MAS on payments related policies.

 

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