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The MAS Electronic Payment System, or MEPS in short, is an SGD-only online interbank payment and fund transfer system in Singapore. [1] It went online in July 1998, and is owned and operated by the Monetary Authority of Singapore (MAS). The irrevocable transfer of funds and the real-time nature of transfers are some of the key features of MEPS.
PayNow is a near-instant real-time payment system developed by Association of Banks in Singapore. [1] The interface facilitates inter-bank peer-to-peer and person-to-merchant transactions. The system is supported by all major Singaporean banks and is regulated by the Monetary Authority of Singapore (MAS) and works by transferring funds between ...
Public transport payments Retail payments Carpark payments • SimplyGo EZ-Link cards • SimplyGo Concession cards (account-based online debit) Online account-based ticketing wallet, based on CEPAS standard. As the card information is stored on a central server, the card balance can be topped up without presence of physical card.
An online payment gateway for online payments via bank account direct debit. It can be used at merchants such as Singapore government services, airlines bookings, bill payments at AXS online. 2001 [37] • iBanking login details • Hardware token or bank mobile app to authenticate each transaction. No iBanking login & authentication required ...
The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves .
Commercial banks in Singapore may undertake universal banking, such as the taking of deposits and the provision of cheque services and lending, as well any other business authorised by the Monetary Authority of Singapore, including financial advisory services, insurance brokering and capital market services, as long as they are permitted under section 30 of the Banking Act.
Airwallex is a multinational financial technology company offering financial services and software as a service (SaaS). Founded in 2015 in Melbourne, Australia [3] and currently based in Singapore, [1] the company is a financial technology platform providing cross-border payments and financial services to businesses through a proprietary banking network and its API.
A public bank is a bank, a financial institution, in which a state, municipality, or public actors are the owners.It is an enterprise under government control. [1] Prominent among current public banking models are the Bank of North Dakota, the Sparkassen-Finanzgruppe in Germany, and many nations' postal bank systems.