SINGAPORE - Singapore announced the incorporation of a new entity that will administer and oversee the Republic’s eight national payment schemes, such as Fast, Giro, PayNow and SGQR. The Singapore Payments Network (Span), which will be operational by 2026, will aim to strengthen the governance of both national and cross-border payment schemes, the Monetary Authority of Singapore (MAS) and The Association of Banks in Singapore (ABS) said on June 25. It will also drive continuous innovation in the payments space and encourage active collaboration among key industry players. The initial members of Span are MAS and financial institutions comprising Citibank, DBS Bank, HSBC, Maybank, OCBC, Standard Chartered Bank and UOB. https://www.straitstimes.com/business/mas-abs-announce-new-entity-to-oversee-singapores-eight-national-payment-schemes (ICE SINGAPORE)

Fonte notizia: The Business Times, 24 June 2025