Payment Services Act 2019: Primary legislation governing payment systems and service providers in Singapore. Establishes licensing requirements, security standards, and operational regulations for payment service providers.
Banking Act (Chapter 19): Core banking legislation that governs banking operations and transactions, particularly relevant for direct debit arrangements and inter-bank transfers in auto payment systems.
Electronic Transactions Act (Chapter 88): Legal framework validating electronic signatures, records, and transactions. Essential for establishing the legal validity of electronic payment authorizations and digital agreements.
Personal Data Protection Act 2012: Regulatory framework for personal data protection, governing how payment-related personal information must be collected, used, and disclosed, including consent requirements.
Consumer Protection (Fair Trading) Act: Legislation protecting consumers against unfair practices, ensuring transparent terms and conditions in payment agreements and related consumer transactions.
MAS E-Payments User Protection Guidelines: Regulatory guidelines issued by the Monetary Authority of Singapore specific to electronic payments, covering user protection measures and security requirements.
Common Law Contract Principles: Fundamental legal principles governing contract formation, terms and conditions, rights and obligations of parties in Singapore's common law system.
