Derek Chan appointed first CEO of Singapore Payments Network
The not-for-profit body will oversee Singapore’s national payment schemes when operations begin in early 2027.
Derek Chan has been named the first chief executive of the Singapore Payments Network (SPaN), which has also formed an 11-member board. Chairing the board is Jacqueline Loh, Deputy Managing Director (Corporate Development) at the Monetary Authority of Singapore (MAS).
Established jointly by MAS and the Association of Banks in Singapore, the not-for-profit organisation is due to start operating in early 2027. Its remit will cover the administration and governance of the country’s national payment schemes.
SPaN said its first priority would be a stable handover from the schemes’ existing administrators. It also intends to improve operational resilience and governance, upgrade payment infrastructure and expand regional connections.
Chan has nearly 20 years of experience spanning payment scheme development, operations and industry engagement. His previous positions include roles with global card schemes and Chief Business Officer at Banking Computer Services Private Limited, an operator of key clearing and payments infrastructure in Singapore.
