Operating an e-wallet in Singapore means meeting some of the world's most rigorous financial technology standards. For partners and developers considering integration, understanding these standards is essential.
Regulatory Framework
Payment Services Act (PSA)
The PSA governs digital payment token services and e-money issuance in Singapore. E-wallet platforms must comply with licensing requirements, capital adequacy standards, and operational resilience guidelines set by the Monetary Authority of Singapore (MAS).
Personal Data Protection Act (PDPA)
The PDPA mandates how personal data is collected, used, and protected. E-wallet platforms handle sensitive financial and personal data, making PDPA compliance critical. Key requirements include consent management, data minimisation, and breach notification.
Technical Security Standards
- Encryption: AES-256 for data at rest, TLS 1.3 for data in transit
- Authentication: Multi-factor authentication with biometric support
- Access control: Role-based access with least-privilege enforcement
- Audit logging: Immutable transaction and access logs
- Penetration testing: Regular third-party security assessments
What This Means for Partners
When you integrate with a compliant platform like Zeno, you inherit the compliance posture. Your integration handles the user experience while the platform handles the regulatory complexity. This significantly reduces the compliance burden and time-to-market for partners.