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Questionnaire |
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11 November 2019
Please answer all questions in this questionnaire. If there is additional information that you believe will be relevant to your response to any question, please do provide such information under the heading “Additional Information” under the relevant question.
- Will you be receiving and/or collecting Fiat (i.e. national currencies such as the Singapore dollar) 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: _____________________________________________
- Will you be storing and/or holding Fiat (or a representation of Fiat) for your customers?
2.1 Yes
2.2 No
Additional Information: _____________________________________________
- If the response to question 2 is yes, will you be on-lending such customer monies received and held by you to third parties and/or using such customer monies to finance your business?
3.1 Yes
3.2 No
Additional Information: _____________________________________________
- If the response to question 2 is yes, will you be allowing customers to withdraw physical cash from their accounts?
4.1 Yes
4.2 No
Additional Information: _____________________________________________
- 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?
5.1 Yes
5.2 No
Additional Information: _____________________________________________
- If the response to the question above is yes, will such transmissions of Fiat be:
6.1 Within Singapore, where the senders are in Singapore and the recipients are in Singapore
6.2 Cross border in nature, where the senders are in Singapore and the recipients are outside Singapore
6.3 Cross border in nature, where the senders are outside Singapore and the recipients are in Singapore
Additional Information: _____________________________________________
- Will you be lending Fiat to your customers?
7.1 Yes
7.2 No
Additional Information: _____________________________________________
- Will you be contracting with merchants to assist merchants with accepting and processing payment transactions?
8.1 Yes
8.2 No
Additional Information: _____________________________________________
- If the response to the question above is yes, what would be the nature of such merchants (you may tick more than one option):
9.1 The merchants will carry on business in Singapore
9.2 The merchants will carry on business outside Singapore
9.3 The merchants will be incorporated, formed or registered in Singapore
9.2 The merchants will be incorporated, formed or registered outside Singapore
Additional Information: _____________________________________________
- Will you be providing services that involve digital payment tokens (i.e. cryptocurrencies such as Bitcoin and Ether)?
10.1 Yes
10.2 No
Additional Information: _____________________________________________
- If the response to the question above is yes, will you be undertaking any of the activities below?
11.1 Buying and selling such digital payment tokens on behalf of or as a service to customers.
11.2 Establishing or operating a digital payment token exchange
Additional Information: _____________________________________________
- Are you currently licensed, approved, registered or regulated, or exempt from being licensed, approved, registered or regulated in Singapore or any other jurisdiction?
12.1 Yes
12.2 No
Additional Information: _____________________________________________
- 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:
13.1 Financial Advisers Act (Cap. 110)
13.2 Insurance Act (Cap. 142)
13.3 Securities and Futures Act (Cap. 289)
13.4 Trust Companies Act (Cap. 336)
Additional Information: _____________________________________________
- 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?
14.1 Yes
14.2 No
Additional Information: _____________________________________________
- 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)?
15.1 The service of processing and storing data
15.2 Any information technology security, trust or privacy protection service
15.3 Any data and entity authentication service
15.4 Any information technology service
15.5 The service of providing a communication network
15.6 The service of providing and maintaining any terminal or device used for any payment service
Additional Information: _____________________________________________
- Which best activity best describes the activities that you intend to pursue in Singapore (you may choose more than one activity)?
16.1 Account issuance (i.e. issuing, maintaining or operating a payment account in Singapore, such as an e-wallet, a credit card or debit card*)
16.2 E-money issuance (i.e. issuing e-money in Singapore to allow the user to pay merchants or transfer e-money to another individual*)
16.3 Domestic money transfers (i.e. providing local funds transfer services in Singapore. This includes payment gateway services and payment kiosk services*)
16.4 Cross-border money transfers (i.e. providing inbound or outbound remittance services in Singapore*)
16.5 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*)
16.6 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*)
*This is an informal description of the activity and does not constitute the full definition of the activity as it appears under the Payment Services Act.
Additional Information: _____________________________________________
