Singapore Payments Network Appoints Derek Chan as CEO to Strengthen National Payment Systems

Established by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), SPaN is a not-for-profit entity responsible for administering and governing Singapore’s national payment schemes.

Derek Chan Appointed as Inaugural CEO

Derek Chan brings nearly 20 years of leadership experience in the payments industry. His background includes payment scheme development, payment operations and industry engagement.

He has also held positions at global card schemes and served as Chief Business Officer at Banking Computer Services Private Limited, which operates key national clearing and payment infrastructure in Singapore.

SPaN Establishes 11-Member Board

SPaN will be governed by an 11-member Board of Directors chaired by Jacqueline Loh, Deputy Managing Director (Corporate Development) at MAS.

The Board brings together expertise in banking, technology, global payments, innovation, governance, legal affairs and regulatory matters.

It will provide strategic oversight to help ensure Singapore’s national payment schemes remain accessible, reliable and prepared for future developments.

Leadership Focuses on Future-Ready Payments

Jacqueline Loh said the appointment of the inaugural Board and the first CEO represents an important milestone for SPaN.

She added that the organisation will focus on strengthening governance, encouraging industry collaboration and building a foundation to keep Singapore’s payment schemes accessible, resilient and innovative.

Derek Chan said SPaN was established to bring the governance and development of Singapore’s national payment schemes together. He highlighted the importance of working closely with MAS, industry participants and the payment system operator to deliver on the organisation’s objectives.

About Singapore Payments Network (SPaN)

Singapore Payments Network (SPaN) is a not-for-profit organisation established by the Monetary Authority of Singapore and the Association of Banks in Singapore.

It is responsible for administering and governing Singapore’s national payment schemes, with a focus on strengthening governance, operational resilience, modernisation and regional connectivity.

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