The move is aimed at combatting rising financial fraud as consumers increasingly prefer e-payments over the use of credit cards.
December 21, 2020Described as "the first-of-its-kind in the world", the link will enable instant money transfers between Singapore’s PayNow and Thailand’s PromptPay.
December 8, 2020Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.
December 1, 2020The FSA plans to revise its guidelines for bank transfers to e-payment service providers in response to a series of fraudulent withdrawals.
October 21, 2020A cross-border link between Singapore’s PayNow and Thailand’s PromptPay will extend to Malaysia’s DuitNow, a BNM official said.
August 11, 2020Although access to in-person services will expand, MAS "strongly encourages" FIs and their customers to continue using digital financial services and e-payments as much as possible.
June 17, 2020The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.
April 10, 2020The update addresses situations where customers choose to receive fewer transaction notifications, which could affect their ability to monitor for unauthorised transactions.
April 26, 2019The MAS is allowing an extra six months for compliance with its e-payments user protection guidelines, following requests from banks for more time to implement system changes.
February 1, 2019The guidelines establish a common baseline protection from losses arising from isolated unauthorised or erroneous electronic payment transactions.
October 1, 2018