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The MAS Electronic Payment System, or MEPS in short, is an SGD-only online interbank payment and fund transfer system in Singapore. [1] It went online in July 1998, and is owned and operated by the Monetary Authority of Singapore (MAS). The irrevocable transfer of funds and the real-time nature of transfers are some of the key features of MEPS.
Known as the Open Electricity Market initiative, it started with a soft launch in Jurong in April 2018 before it was extended to the rest of Singapore from November 2018 to May 2019. [ 5 ] The global energy crunch of 2021 and 2022 saw a significant increase in gas prices due to high demand and tight supply.
CEPAS is spearheaded by the Infocomm Development Authority of Singapore (IDA), and is one of the key next generation e-payment initiatives under Singapore's iN2015 infocomm masterplan led by IDA. [3] The vision of CEPAS is for Singaporeans to have a single MPSV card for use all around Singapore for micro-payments.
NETS operates Singapore's national debit scheme enabling customers of DBS Bank, POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, CIMB and UOB to make payments using their physical/contactless ATM cards or mobile devices at more than 120,000 acceptance points in Singapore including major retailers, food courts, hawker centres, convenience stores and supermarkets.
Senoko Power was originally formed in 1977 [1] as a power generation arm of the Public Utilities Board (PUB) in Singapore. [2] In the 1990s, it converted the Power Station from an open-cycle gas turbine power plant to Singapore's first combined cycle plant. [3] It also began piping in natural gas from Malaysia to generate electricity in 1992. [4]
Electricity sector in Singapore is regulated by the Energy Market Authority (Chinese: 新加坡能源管理局). As of 2015, Singapore uses natural gas (95%) and waste (4%) for power stations' fuel. Oil used to contribute 23% in 2005 but now is down to 1%. [42] The fossil fuel basis of Singapore's electricity system affects the way that ...
PayNow is a near-instant real-time payment system developed by Association of Banks in Singapore. [1] The interface facilitates inter-bank peer-to-peer and person-to-merchant transactions. The system is supported by all major Singaporean banks and is regulated by the Monetary Authority of Singapore (MAS) and works by transferring funds between ...
The Payment Services Act 2019 (PS Act) is a statute of the Parliament of Singapore that provides a framework for the regulation of payment systems and payment service providers in Singapore. [1] According to the Monetary Authority of Singapore (MAS) the PS Act provides for regulatory certainty and consumer safeguards, while encouraging ...