Payment Regulatory Evaluation Program (PREP)
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Payment Regulatory Evaluation Program (PREP)


There are three documents on this website:

Please refer to the Information Sheet for an introduction of the PREP Program. In brief, this program is a non-mandatory initiative by the Monetary Authority of Singapore to assist payment services providers in seeking legal advice relating to the Payment Services Act (No. 2 of 2019) (the "PS Act"). The Schedule to the Information Sheet sets out a non-exhaustive list of legal advisers that can provide such legal advice.

Step 1

If you would like to seek legal advice, please first complete the Questionnaire which contains questions on your business model.

Step 2

You can subsequently approach the Legal Advisors with the completed Questionnaire for an initial consultation.

Step 3

Subject to the legal adviser’s client onboarding processes, the legal adviser may agree to provide an Initial Legal Memo on the basis of the completed Questionnaire (and any further information that may be required). Please refer to the Framework for the Initial Legal Memo for further details on what the Initial Legal Memo will cover in respect of the PS Act.

Please note that the Information Sheet contains certain terms and conditions, acknowledgements of limitations and disclaimers, and by using the Questionnaire or the Schedule, you agree to be bound by such terms and conditions, acknowledgements and disclaimers.

MAS

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CONTACT US

To find out more about PREP, please email [email protected]