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An overview of key issues surrounding digital markets, payment services and funding for fintech businesses operating in Singapore, with particular regard to recent developments.
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With the COVID-19 pandemic accelerating the global shift toward digital transformation, the use of electronic signatures in place of traditional “wet ink” signatures has become more common. In Singapore, the enforceability of electronic signatures is governed by the Electronic Transactions Act (Chapter 88) (the ETA), which draws a distinction between electronic signatures, secure electronic signatures, and digital signatures. Further, as part of its National Digital Identity Smart Nation strategic project, the Singapore Government has introduced a new “Sign with SingPass” digital signing service which enables SingPass users to electronically sign contracts, agreements, and other legal documentation.
Friday, April 30, 2021
With the COVID-19 pandemic accelerating the global shift toward digital transformation, the use of electronic signatures in place of traditional “wet ink” signatures has become more common. In Singapore, the enforceability of electronic signatures is governed by the Electronic Transactions Act (Chapter 88) (the ETA), which draws a distinction between electronic signatures, secure electronic signatures, and digital signatures. Further, as part of its National Digital Identity Smart Nation strategic project, the Singapore Government has introduced a new “Sign with SingPass” digital signing service which enables SingPass users to electronically sign contracts, agreements, and other legal documentation.
This article will explore the various methods of electronic signing and associated concerns.