MAS Electronic Payment System
The MAS Electronic Payment System or MEPS in short, is a 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.
As of 9 December 2006, the system was upgraded to MEPS+, which includes improved features such as the use of SWIFT message formats and network and automated gridlock detection and resolution.[2]
See also
- Banking in Singapore
References
- "MAS Electronic Payment System (MEPS+)". Monetary Authority of Singapore. Archived from the original on 11 May 2017. Retrieved 24 February 2016.
- "Payment, clearing and settlement systems in Singapore" (PDF). BIS.org. 2011. p. 17. Retrieved 24 February 2016.
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