Payment Regulatory Evaluation Program (PREP)
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Questionnaire


Click here to download the questionnaire. 

  1. Will you be receiving and/or collecting Fiat from customers (excluding Fiat that is to be paid to you for the provision of your services)?

1.1        Yes

1.2        No

Additional Information: _____________________________________________

  1. Will you be storing and/or holding Fiat (or a representation of Fiat) for your customers?

2.1        Yes

2.2        No

Additional Information: _____________________________________________

  1. Will you be facilitating (whether directly or indirectly) the transmission of Fiat (or the value of such Fiat) for your customers, in order that your customers may pay merchants or transfer Fiat (or the value of such Fiat) to other persons?

3.1        Yes

3.2        No

Additional Information: _____________________________________________

  1. If the response to the question above is yes, will such transmissions of Fiat be:

4.1        Within Singapore, where the senders are in Singapore and the recipients are in Singapore

4.2        Cross border in nature, where the senders are in Singapore and the recipients are outside Singapore

4.3        Cross border in nature, where the senders are outside Singapore and the recipients are in Singapore

Additional Information: _____________________________________________

  1. Will you be contracting with merchants to assist merchants with accepting and processing payment transactions?

5.1        Yes

5.2        No

Additional Information: _____________________________________________

  1. If the response to the question above is yes, what would be the nature of such merchants (you may tick more than one option):

6.1        The merchants will carry on business in Singapore

6.2        The merchants will carry on business outside Singapore

6.3        The merchants will be incorporated, formed or registered in Singapore

6.4        The merchants will be incorporated, formed or registered outside Singapore

Additional Information: _____________________________________________

  1. Will you be providing services that involve digital payment tokens (i.e. cryptocurrencies such as Bitcoin and Ether)?

7.1        Yes

7.2        No

Additional Information: _____________________________________________

  1. If the response to the question above is yes, will you be undertaking any of the activities below?

8.1        Buying and selling such digital payment tokens on behalf of or as a service to customers.

8.2        Establishing or operating a digital payment token exchange

Additional Information: _____________________________________________

  1. Are you currently licensed, approved, registered or regulated, or exempt from being licensed, approved, registered or regulated in Singapore or any other jurisdiction?

9.1        Yes

9.2        No

Additional Information: _____________________________________________

  1. If you are currently licensed, approved, registered or regulated, or exempt from being licensed in Singapore, would this be pursuant to any of the following acts:

10.1      Financial Advisers Act (Cap. 110)

10.2      Insurance Act (Cap. 142)

10.3      Securities and Futures Act (Cap. 289)

10.4      Trust Companies Act (Cap. 336)

Additional Information: _____________________________________________

  1. If you will not come into possession of any Fiat (for customers and merchants), will you merely act as a technical service provider that supports the provision of any payment service?

11.1      Yes

11.2      No

Additional Information: _____________________________________________

  1. If the response to the question above is yes, will your services as a technical service provider be limited to any of the following services (you may tick more than one option)?

12.1      The service of processing and storing data

12.2      Any information technology security, trust or privacy protection service

12.3      Any data and entity authentication service

12.4      Any information technology service

12.5      The service of providing a communication network

12.6      The service of providing and maintaining any terminal or device used for any payment service

Additional Information: _____________________________________________

  1. Which best activity best describes the activities that you intend to pursue in Singapore (you may choose more than one activity)?

13.1      Account issuance (i.e. issuing, maintaining or operating a payment account in Singapore, such as an e-wallet, a credit card or debit card)

13.2      E-money issuance (i.e. issuing e-money in Singapore to allow the user to pay merchants or transfer e-money to another individual)

13.3      Domestic money transfers (i.e. providing local funds transfer services in Singapore. This includes payment gateway services and payment kiosk services)

13.4      Cross-border money transfers (i.e. “providing inbound or outbound remittance services in Singapore”)

13.5      Merchant acquisition (i.e. providing merchant acquisition services in Singapore. This is where the service provider contracts with a merchant to accept and process payment transactions, which results in a transfer of money to the merchant. Usually the service includes providing a point of sale terminal or online payment gateway)

13.6      Digital payment token dealing and exchanges (i.e. buying or selling virtual currency, or providing a platform to allow persons to exchange virtual currency in Singapore)

Additional Information: _____________________________________________

Click here to download the questionnaire. 

MAS

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CONTACT US

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