Non-Bank Financial Institutions to have Access to FAST and PayNow

January 7, 2021

SINGAPORE, 30 November 2020 – The Monetary Authority of Singapore (MAS) announced today that eligible non-bank financial institutions (NFIs) will have direct access to the banking system’s retail payments infrastructure from February 2021. NFIs that are licenced as major payment institutions under the Payment Services Act will be allowed to connect directly to Fast and Secure Transfers (FAST) and PayNow. Please click HERE for more information.

 

 

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