Briefing on Impact of Amendments to PSA PSR

​On July 26, 2024, MAS updated the Guidelines on Licensing for Payment Service Providers, which will be effective from August 26, 2024. The key changes include:

• ​A new Legal Opinion Requirement for new and variation applications.
• ​An External Auditor’s Independent Assessment for applications providing DPT services.
• ​Clearer expectations and rules for the application review process.