Singapore Payments Network appoints CEO, board

[SINGAPORE] The Singapore Payments Network (SPAN) has appointed its CEO and board of directors, ahead of its commencement of operations in early 2027.

Derek Chan, who has nearly two decades of leadership experience in the payments sector, will be its CEO. The 11-member board will be led by Jacqueline Loh, deputy managing director for corporate development at the Monetary Authority of Singapore (MAS).

SPAN is a not-for-profit entity set up by MAS and the Association of Banks in Singapore (ABS) to administer and govern Singapore’s national payment schemes.

Its immediate focus will be to ensure a seamless, stable transition of the national payment schemes from their current administrators, MAS and ABS said on Wednesday (Oct 28).

Chan has led payment scheme development, payments operations and industry engagement, including roles at global card schemes.

He is also chief business officer at Banking Computer Services, which operates the key national clearing and payment infrastructure in Singapore.

The board draws its members from the banking, technology, global payments, innovation, governance, legal and regulatory affairs sectors.

It will provide strategic oversight as SPAN works to keep Singapore’s national payment schemes accessible, resilient and future-ready, the statement said.

MAS previously announced that from Nov 1, Loh will step down from her role as deputy managing director for corporate development, and be appointed principal adviser in the managing director’s office, alongside her role as chair of the board of SPAN.

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She said: “As SPAN progresses towards operational readiness, we will focus on strengthening governance, advancing industry collaboration and building a future-ready foundation to ensure that Singapore’s payment schemes remain world-class – widely accessible, operationally resilient, and at the forefront of payments innovation.”