21 June 2021
The National Payment Systems Act 2018 (NPS Act) provides for the regulation, oversight and supervision of the national payment systems and payment systems being operated in Mauritius, and designates the Bank of Mauritius (Bank) as the authority for that purpose.
The Bank has, on 25 May 2021, made the National Payment Systems (Authorisation and Licensing) Regulations 2021 (Regulations) under the NPS Act.
The Regulations, published as Government Notice No. 118 of 2021 in the Government Gazette of Mauritius on 31 May 2021, are effective as from 1 June 2021. The Regulations are available on the Bank’s website at: https://www.bom.mu/about-bank/legislations/national-payment-systems-authorisation-and-licensing-regulations-2021
The Regulations provide, amongst others, for:
(i) the authorisation of operators of payment systems, clearing systems or settlement systems (authorisation)
(ii) licensing of payment service providers (licence)
(iii) the form and manner for applying for an authorisation or a licence
(iv) the applicable fee for obtaining an authorisation or a licence.
Existing operators of payment systems, clearing systems or settlement systems or existing payment service providers, other than banks or companies licensed by the Financial Services Commission to provide payment intermediary services exclusively outside Mauritius, shall submit an application to the Bank, as per the relevant application form, for an authorisation or a licence, respectively, within 3 months of this notice. Other interested body corporates may apply for an authorisation or a licence by submitting the relevant duly filled application form to the Bank. The application form must be accompanied by the prescribed fees and relevant documents specified in the application form and the Regulations.
The application forms are available on the Bank’s website at : https://www.bom.mu/payment-systems/licensing/application-for-licences
Interested parties may call on 2065757 or send an email to NPSLicensing@bom.mu for additional information or clarification.
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