Singapore Payments Network appoints leadership team ahead of 2027 launch

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Singapore Payments Network leadership

Highlights

Derek Chan appointed inaugural CEO of Singapore Payments Network (SPaN), with Jacqueline Loh chairing its 11-member board ahead of 2027 operations.
SPaN will begin operations in early 2027, focusing on stable transition and consolidation of national payment schemes from current administrators.
As scheme owner, SPaN targets stronger governance, enhanced operational resilience, innovation, and modernization of Singapore’s payment infrastructure with deeper regional connectivity.

Leadership appointments and transition plans

As reported by Monetary Authority of Singapore, the Singapore Payments Network, or SPaN, has appointed Derek Chan as its inaugural chief executive officer and formed an 11-member board chaired by Jacqueline Loh.

Chan brings nearly two decades of experience in payments, including work in payment scheme development, operations and industry engagement. He also previously served as chief business officer of Banking Computer Services Private Limited, which operates key national clearing and payment infrastructure in Singapore.

SPaN says the board combines expertise across banking, technology, global payments, innovation, governance, legal and regulatory matters. From Nov. 1, 2026, Loh relinquishes her role as deputy managing director for corporate development at MAS and becomes principal advisor in the managing director's office, while continuing as chair of the SPaN board.

National payments oversight and sector impact

SPaN is due to commence operations in early 2027, with an immediate focus on ensuring a stable transition of Singapore's national payment schemes from their current administrators. As scheme owner, it is tasked with strengthening governance and operational resilience while supporting innovation and modernization of the country's core payment infrastructure and deeper regional links.

Loh says the board and chief executive appointments mark key milestones as the entity moves toward operational readiness, with priorities that include stronger governance, industry collaboration and a future-ready payments foundation. Chan says SPaN is set up to consolidate governance and development of the national payment schemes and will work with MAS, industry participants and Banking Computer Services Private Limited, a NETS subsidiary that manages Singapore's payment infrastructure and operates national payment schemes for consumers and businesses.

In our earlier coverage of Philippine e-commerce payment trends, we noted that cash-on-delivery still makes up a sizable share of online purchases even as QR and bank-transfer usage accelerates. The report highlighted the commercial impact of payment optionality—many shoppers abandon checkouts when their preferred method isn’t available—alongside growing pressure on merchants to upgrade payment infrastructure and address rising fraud risks.

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