The news follows a Feb 12 announcement where MAS and ABS said they will establish a new entity to consolidate the administration and governance of Singapore’s national payment schemes.
The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) announced, on June 25, the incorporation of the Singapore Payments Network (SPaN).
“SPaN aims to provide strong governance over national and cross border payment schemes, promote continuous payments innovation and encourage active collaboration among key industry players,” reads the joint release.
