Digitisation, Disruption, Democratisation, Decentralisation and Data.  These 5 ‘D’s are common traits underlying the development of the FinTech & Payment Services sector, and highlight how industry players are constantly innovating, evolving, challenging and transforming existing norms – all at breakneck speed making it difficult for laws and regulations to keep apace. 

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Operating in a space of legal uncertainty can be unnerving.  As experienced IP & Technology lawyers, we help our clients achieve clarity in protecting and optimising their innovations and IP, as well as compliance with various legal and regulatory requirements, including Payment Service licensing and regulatory requirements and data privacy and cybersecurity compliance. We also advise on and provide legal support in projects that involve technology and IP acquisition, licensing and access arrangements, and cross-border partnerships. 

Our core services include: 

• Intellectual Property Protection: Providing strategies and advice on securing and managing patents, trademarks, copyrights, designs and trade secrets to protect innovations, creations and brand identity, and assisting with filings for patent, trademark and design registration.  
   

• Regulatory Compliance: Advising on the Singapore Payment Services Act (PSA) and assisting in applying for and obtaining the requisite licences under the PSA. We have successfully assisted clients in obtaining their Major Payment Institution (MPI) licence covering various payment services, including merchant acquisition, cross-border and domestic fund transfers, account issuance and e-money issuance services. 
   

• Contract Drafting & Negotiation: Structuring, drafting, reviewing, and negotiating contracts involving payment services and processing, banking and financial systems and cybersecurity.  Projects and matters we have been involved in include:

  • Establishment of cross-border bilateral payment linkage projects between Singapore and its regional counterparts such as Thailand (PromptPay-PayNow), Malaysia (PayNow-DuitNow) and India (PayNow-UPI)
     

  • Establishment of the nationwide legal infrastructure for FAST, PayNow, SGQR, eGIRO and e-cheque clearing
     

  • Procurement and implementation of financial technology, Internet banking, core banking, trading platforms, technology and infrastructure outsourcing projects for banks, Singapore Exchange, ASEAN exchanges, brokerages and insurance companies
     

  • Providing regulatory advice to financial institutions on their technology facilities and services, and designated critical information infrastructure operators under the Cybersecurity Act
     

• Data Privacy & Cybersecurity: Comprehensive support in managing data protection, privacy policies, and cybersecurity measures to safeguard business and customer information
   

In addition to our legal services in this field, our patents team comprises a multi-disciplinary team of patent attorneys and lawyers, who have specialised capabilities in diverse technologies, and have handled a diverse range of inventions in the Fintech space, some of which include:
 

• Authentication system, delivery and payment system, and methods thereof for financial instruments, e.g. securities, commodities 

• Blockchain systems and methods in relation to performance of smart contracts, verification of digital assets, etc.

• Smart card products and fabrication methods

• Storage and management of digital assets
  
   

Key Contacts: