Regulation 12
Financial requirements while licence is in force
of Payment Services Regulations 2019
For the purposes of section 6(12)(a) of the Act —
the prescribed financial requirements for a standard payment institution, while its licence is in force, are —
if the standard payment institution is incorporated in Singapore — a base capital of at least $100,000; or
if the standard payment institution is a foreign company — net head office funds of at least $100,000; and
the prescribed financial requirements for a major payment institution, while its licence is in force, are —
if the major payment institution is incorporated in Singapore — a base capital of at least $250,000; or
if the major payment institution is a foreign company — net head office funds of at least $250,000.