Payment Services Act 2019 · 2020 Revised Edition · Part 2 · Licensing of Payment Service Providers
18. Prohibition against use of unlicensed agent
Feedback & supportA licensee must not provide any type of payment service in Singapore through an agent, unless —
licensee
“licensee” means a payment service provider the licence of which is in force;
the agent has in force a licence that entitles the agent to carry on a business of providing that type of payment service; or
the agent is an exempt payment service provider in respect of that type of payment service.
A licensee that contravenes subsection (1) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.