The Monetary Authority of Singapore (MAS) has launched a public consultation on proposed guidelines to protect users of electronic payments.
The proposed E-payments User Protection Guidelines aim to encourage wider adoption of e-payments by setting standards on the responsibilities of financial institutions—any bank, non-bank credit card issuer, finance company or holder of a widely-accepted stored value facility. The four approved widely-accepted stored value facilities are “EZ-Link Card,” “NETS CashCard,” “NETS FlashPay,” and “CapitaVoucher.”
