# Payment Services Act 2019

https://www.uniwebpay.com/glossary/psa-2019/

*Last updated: 2026-08-03*

The Singapore statute that payment institutions are licensed under. It defines the regulated activities — merchant acquisition, domestic and cross-border money transfer, e-money issuance and others — and a licence names which of them a company may do. A licence covering money transfer does not permit merchant acquiring.

## Why it matters to a merchant

The Act is the reason "are you licensed" is a meaningful question in Singapore rather than a rhetorical one. It defines the activities that need a licence and the classes of licence that cover them — so a provider is not simply licensed or unlicensed, but licensed for specific activities. A merchant comparing providers is really comparing which activities each one is authorised to perform.

## Related terms

*Licensing and regulation in Singapore*

- [MAS (Monetary Authority of Singapore)](https://www.uniwebpay.com/glossary/mas/)
- [MPI (Major Payment Institution)](https://www.uniwebpay.com/glossary/mpi/)
- [SPI (Standard Payment Institution)](https://www.uniwebpay.com/glossary/spi/)
- [MAS Financial Institutions Directory](https://www.uniwebpay.com/glossary/fid/)
- [KYC / KYB](https://www.uniwebpay.com/glossary/kyc-kyb/)
- [Beneficial owner](https://www.uniwebpay.com/glossary/beneficial-owner/)
- [PCI DSS](https://www.uniwebpay.com/glossary/pci-dss/)
- [Merchant Acquisition (licensed activity)](https://www.uniwebpay.com/glossary/merchant-acquisition/)
- [UEN (Unique Entity Number)](https://www.uniwebpay.com/glossary/uen/)
- [ACRA](https://www.uniwebpay.com/glossary/acra/)
- [PDPA (Personal Data Protection Act)](https://www.uniwebpay.com/glossary/pdpa/)
- [AML / CFT](https://www.uniwebpay.com/glossary/aml-cft/)

- [All 74 terms](https://www.uniwebpay.com/glossary/)

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