Introduction

General Introduction to be added here

Payment Systems

Payment System NameSystem TypeCurrencyClearing TypeSettlement TypeOperating ModelOperatorRegulator                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
MAS Electronic Payment System (MEPS+)RTGS
SGDSingapore Dollar
Real-TimeGross0
Monetary Authority of SingaporeOperator Type:Central Bank
Monetary Authority of SingaporeRegulator Type:Central Bank
Fast and Secure Transfers (FAST)Immediate Payments
SGDSingapore Dollar
Real-TimeGross0
NETS GroupOperator Type:3rd Party
Monetary Authority of Singapore (MAS)Regulator Type:Central Bank
InterGIROACH - Credit
SGDSingapore Dollar
DeferredMulti-Lateral Netting0
NETS GroupOperator Type:3rd Party
Monetary Authority of Singapore (MAS)Regulator Type:Central Bank
Cheque Clearing SystemPaper Instruments
SGDSingapore Dollar
DeferredMulti-lateral Netting0
Operator Type:
Monetary Authority of Singapore (MAS)Regulator Type:Central Bank

Snapshot

CurrencySGD
Economic BlocASEAN
Banking RegulatorMonetary Authority of Singapore (MAS)
Payment Systems RegulatorMonetary Authority of Singapore (MAS)
Capital Markets Regulator
System OperatorsNETS
Participants
Payment Systems RegulationPayment Service Act 2019

Evolution of Payment Systems

1985

Interbank GIRO & NETS debit scheme introduced

2006

MEPS+

2014

FAST Introduced

2019

Payment Systems Act, 2019 Introduced

2003

Cheque Truncation System Introduced


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