Singapore regulator, banking forum to set up new payments entity

Singapore regulator, banking forum to set up new payments entity

FILE PHOTO: The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore February 21, 2013. REUTERS/Edgar Su/File Photo

Singapore’s financial regulator and the Association of Banks in Singapore (ABS) said on Wednesday they will set up a new entity to consolidate the administration and governance of national payment schemes and further grow them.

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