Ezsy Pte. Ltd. (“ezsy”) is incorporated in Singapore and is currently operating pursuant to licensing exemptions provided for under the Payment Services (Exemption for Specified Period) Regulations 2019 (“Exemption Regulations”). Hence, ezsy is exempt under Section 100 of the Payment Services Act, specifically for:
- account issuance service; e.g. e-wallet
- domestic money transfer service; transfers within Singapore
- inward cross-border money transfer service;
- merchant acquisition service; e.g. QR pay
- e-money issuance service (where the total float held does not exceed S$30 million); and
- digital payment token service,
(all above are Permitted Payment Services)
Delayed money-changing services – means a money-changing service where the transaction for the purchase or sale of foreign currency notes, or both, is not completed immediately.
Ezsy is exempted by the Monetary Authority of Singapore from holding a licence to provide money-changing services. Please note that you may not be able to recover all the money you paid to if ezsy’s business fails.
Notice for non-Singapore residents
Ezsy is exempted by the Monetary Authority of Singapore from holding a licence to provide e-money issuance services. Please note that you may not be able to recover all the money you paid to if ezsy’s business fails.
DIGITAL PAYMENT TOKEN (“DPT”) SERVICE RISK DISCLOSURE
RISK WARNING ON DIGITAL PAYMENT TOKEN (DPT) SERVICES
- Is expressed as a unit;
- Is not denominated in any currency, and is not pegged by its issuer to any currency;
- Is, or is intended to be, a medium of exchange accepted by the public, or a section of the public, as a payment for goods or services or for the discharge of a debt;
- Can be transferred, stored, or traded electronically; and
- Satisfied such other characteristics as the Monetary Authority of Singapore may prescribe.
Before you pay your DPT service provider any money or DPT, you should be aware of the following.
- Your DPT service provider is exempted by MAS from holding a licence to provide DPT services. Please note that you may not be able to recover all the money or DPTs you paid to your DPT service provider if your DPT service provider’s business fails.
- You should not transact in the DPT if you are not familiar with this DPT. Transacting in DPTs may not be suitable for you if you are not familiar with the technology that DPT services are provided.
- You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
The information contained in this document or website is intended for general information purposes and general introduction to ezsy and the payment services it provides. Disclosures and warning statements above are to be taken seriously and ezsy does not act or purport to act in any way as an advisor or in any fiduciary capacity or counterparty. Any information contained in this document or website should not be construed as legal advice and is not intended to be a substitute for legal counsel on any subject matter. While we endeavor to ensure that the information on this document or website is correct, no warranty, express or implied, is given as to its accuracy and we do not accept any liability for error or omission. We shall not be liable for any damage (including, without limitation, damage for loss of business or loss of profits) arising in contract, tort or otherwise from the use of, or inability to use, this site or any material contained in it, or from any action or decision taken as a result of using this application, site or any such material. You are strongly advised to be full cognizant of all technological and financial risks associated with buying, selling and dealing with Digital Payment Tokens (“DPTs”) and we strongly suggest that you seek independent advice to make informed decisions with regards to DPTs. By onboarding with ezsy, you acknowledge that you are aware of the risks and implications of the payment services provided by ezsy, especially of the high degree of risks involved with DPT services and that in no event will ezsy or any of its directors or employees be liable for any injury loss, claim or damage (whether direct, indirect, consequential or incidental) arising either directly or indirectly out of, or in any way connected with, the information, the documents, the website and/or the use of ezsy app or any of the payment services provided by ezsy. If you are located, incorporated or otherwise established in, or a citizen or resident of certain jurisdictions, ezsy may be unable to, otherwise reserve its rights to refuse to engage in or establish a trading relationship with you. Please refer to the full terms and conditions for more details.