endobj <> 1.1 The Guidelines on Licensing for Payment Service Providers (the “Guidelines”) are intended to provide guidance on the licensing criteria and ongoing requirements for payment service providers under the Payment Services Act (the “PS Act”). This restricts section 35(1) of the Companies and Allied Matters Act 2020 (which allows unlimited objects subject to restrictions in the Payment Services Provider Regulations (PSPR), which was introduced in January 2020 to regulate Payment Services Providers (PSPs) operating in the Kingdom of Saudi Arabia (KSA). The guidelines for licensing and regulation of Payment Service Banks (PSBs) have been placed on a minimum capital base of N5 billion and a N2 million licensing fee respectively. MAS publishes Guidelines on Licensing for Payment Service Providers and releases specimen forms Soon after the Monetary Authority of Singapore (MAS) announced that the Payment Services Act 2019 (PS Act) will commence on 28 January 2020 (Commencement Date), MAS has now published the Guidelines on Licensing ",#(7),01444'9=82. In particular, payment service providers will only need one licence to conduct specified payment services, and MAS’ regulatory ambit will be extended to also cover digital payment token (DPT) services (“dealing in DPT”, i.e. endobj &5> Licensing Requirements The promoters of a PSB shall be required to submit a formal application for the grant of a Payment Service Bank licence addressed to the Governor of the CBN. If you are planning to provide payment services or issue electronic money, you will need to apply with the FCA for registration or authorization, either as a Payment Institution (PI) or Electronic Money Institution (EMI). <> 2. guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act Without these systems, a payment services provider will be able to facilitate payments for his customers only within the closed group of his customers. MAS issues Guidelines on Licensing for Payment Service Providers On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers (“Guidelines”) to supplement the provisions of the PS Act. x��XKo�F���#@�}?� �-Ѫ�Xv,&A���:���E[e����u%n*H��b�ڝ���3�3��l��My��۷�IӔ�?���%+�oY�pWe��r�.�U��?�l��ߪ�{�y�N'c�(���Z#��r�H V2�-l����X��p��1`����R The PSPR update comes on the heels of SAMA’s newly issued . 4 0 obj <> Kindly review the aforementioned and forward your inputs to the Director, Banking & Payments System Department and pspo@cbn.gov.ng not later than October 29, 2018. 2. Core payment software vendor SDK.finance prepared a detailed how-to guide on how to get Payment Institution or Electronic Money Institution license in the UK.. other payments services providers. establishing or operating a DPT exchange) and merchant acquisition services. On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers to supplement the provisions of the Payments Services Act 2019. endobj endobj Licensing and Authorisation of Payment Service Providers The emergence of new payment streams, institutions such as financial technology companies and the general acceptance of electronic money have necessitated the enactment of the Payment Systems and Services Act, 2019 (Act 987) to provide the legal and regulatory framework for the orderly development of the payment system. 1. endobj '�K0N �-��.,�B��l����t8��@� �߇��}�Fǵ���!>���� k>���P�#Tv��X��n�F ��\{����h��\/!�֣�iz�w� Fi���1jpO�.G��! <> Guidelines on Licensing for Payment Service Providers under the Payment Services Act. )�q�)����qg�q`�#�^�/^w8��'w����)�O6GG�.���!쓟��\�#�lV�C:�LJ� !%�A� ,V�H'�eyWo���RH�l~���=e�S�j� ׇS����X�w��=������Y��W��4֦o�g�����2c(�h]`�s �$�%��ko޼Z�'�x^!^~�t����mW$&�G@ah�]�\��q��_a�_}���G�. The Central Bank of Nigeria (CBN) Guidelines For Licensing and Regulation of Payment Service Banks in Nigeria. Licensing, Authorisation and Registration. Service Providers (‘PTSPs); and Payment Solutions Service Providers (PSSPs). Different licences are granted to (i) money-changers, (ii) standard payment institutions (SPIs), and (iii) major payment institutions (MPIs). endobj ���� JFIF ` ` �� C Cybersecurity Guideline for Payment Service Providers | CBK Cybersecurity Guideline for Payment Service Providers Pursuant to Section 31 (2) (b) of the National Payment System Act, 2011 which empowers the Central Bank of Kenya to issue Directives and Guidelines, the CBK has developed a Cybersecurity Guideline for Payment Service Providers (PSPs). Consequently, the Central Bank of Nigeria(CBN) commenced a new licensing regime for all categories of payment service providers … 6 0 obj need to complement the services provided by other licensed entities, the CBN issues this regulation to provide for the licensing and operations of Payment Service Banks (PSBs) in Nigeria. 10 0 obj On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers ("Guidelines") to supplement the provisions of the PS Act. They should be read in conjunction with the PS Act, the Payment Services Regulations (“ PSR ”) and other relevant legislation, notices, guidelines and FAQs issued by MAS. 1 0 obj <> The Guidelines set out the eligibility criteria and … buying or selling DPT such as Bitcoin, and/or “facilitating the exchange of DPT”, i.e. Access regulations, updates and licensing information, Regulations, guidance and licensing for deposit-taking institutions, Regulations, guidance and licensing for capital market entities, Regulations, guidance and licensing for insurers, Regulations, guidance and licensing for payment service providers and systems, Information on MAS’ approach, strategies and efforts in these key areas, MAS’ approach to supervision and the instruments under the Acts it administers, Find out about MAS’ strategies to develop and support the financial sector, Discover what makes Singapore a leading global financial centre, Find out how MAS is co-creating a Smart Financial Centre, Latest information on MAS’ FinTech strategy, initiatives and funding schemes, Get funding on proof-of-concepts, hiring, business development and more, Sandbox relaxes regulatory requirements to enable live experiments of innovation, Various payment initiatives including SGQR, FAST and PayNow, World’s first open architecture platform for FIs to discover FinTechs and deploy solutions. The Guidelines are intended to provide guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act and 7 0 obj These guidelines set out the eligibility criteria and application procedures for payment service providers under the Payment Services Act. <> 2. Super Agents are permitted to undertake agent recruitment management and other activities specified in the CBN Regulatory Framework for Licensing Super Agents in Nigeria. Please note that all attachments should be provided in a searchable and comment-enabled format and must … The memorandum and articles of association of payment service providers must be limited to the permissible activities under their licensing authorisation. 3 0 obj Payment System Management Department of CBN. Applies to: Standard Payment Institution , Major Payment Institution , Money-changing Licensee. Soon after the Monetary Authority of Singapore (MAS) announced that the Payment Services Act 2019 (PS Act) will commence on 28 January 2020 (Commencement Date), MAS has now published the Guidelines on Licensing for Payment Service Providers (Guidelines), as well as certain specimen notification and application forms. PSBs are expected to leverage on mobile and digital channels to enhance … The promoters of a PSB shall make a formal presentation of the proposal to the Director, Financial Policy and Regulation Department (FPRD), CBN. The Central Bank of Nigeria (CBN) on Thursday issued guidelines for licensing, regulation and operation of payment service banks (PSBs) in … Guidelines on Licensing for Payment Service Providers The Guidelines provide guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act. %PDF-1.7 Final Guidelines Joint Guidelines under Article 25 of Regulation (EU) 2015/847 on the measures payment service providers should take to detect missing or incomplete information on the payer or the payee, and the procedures they should put in place to manage a transfer of funds lacking the required information . Sports At Liberty University, Commando Dev Actress, How To Open Eml File On Iphone, Westpac Merchant Statements, Trapped In The Closet 23-33 Lyrics, How To Buy Tron In Kenya, Tompkins Industrial Dining Table Review, Hit Meaning In Malayalam, Yawgmoth Vs K Rrik, Canary Islands Green List, Rockies Game Today Live, " /> endobj <> 1.1 The Guidelines on Licensing for Payment Service Providers (the “Guidelines”) are intended to provide guidance on the licensing criteria and ongoing requirements for payment service providers under the Payment Services Act (the “PS Act”). This restricts section 35(1) of the Companies and Allied Matters Act 2020 (which allows unlimited objects subject to restrictions in the Payment Services Provider Regulations (PSPR), which was introduced in January 2020 to regulate Payment Services Providers (PSPs) operating in the Kingdom of Saudi Arabia (KSA). The guidelines for licensing and regulation of Payment Service Banks (PSBs) have been placed on a minimum capital base of N5 billion and a N2 million licensing fee respectively. MAS publishes Guidelines on Licensing for Payment Service Providers and releases specimen forms Soon after the Monetary Authority of Singapore (MAS) announced that the Payment Services Act 2019 (PS Act) will commence on 28 January 2020 (Commencement Date), MAS has now published the Guidelines on Licensing ",#(7),01444'9=82. In particular, payment service providers will only need one licence to conduct specified payment services, and MAS’ regulatory ambit will be extended to also cover digital payment token (DPT) services (“dealing in DPT”, i.e. endobj &5> Licensing Requirements The promoters of a PSB shall be required to submit a formal application for the grant of a Payment Service Bank licence addressed to the Governor of the CBN. If you are planning to provide payment services or issue electronic money, you will need to apply with the FCA for registration or authorization, either as a Payment Institution (PI) or Electronic Money Institution (EMI). <> 2. guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act Without these systems, a payment services provider will be able to facilitate payments for his customers only within the closed group of his customers. MAS issues Guidelines on Licensing for Payment Service Providers On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers (“Guidelines”) to supplement the provisions of the PS Act. x��XKo�F���#@�}?� �-Ѫ�Xv,&A���:���E[e����u%n*H��b�ڝ���3�3��l��My��۷�IӔ�?���%+�oY�pWe��r�.�U��?�l��ߪ�{�y�N'c�(���Z#��r�H V2�-l����X��p��1`����R The PSPR update comes on the heels of SAMA’s newly issued . 4 0 obj <> Kindly review the aforementioned and forward your inputs to the Director, Banking & Payments System Department and pspo@cbn.gov.ng not later than October 29, 2018. 2. Core payment software vendor SDK.finance prepared a detailed how-to guide on how to get Payment Institution or Electronic Money Institution license in the UK.. other payments services providers. establishing or operating a DPT exchange) and merchant acquisition services. On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers to supplement the provisions of the Payments Services Act 2019. endobj endobj Licensing and Authorisation of Payment Service Providers The emergence of new payment streams, institutions such as financial technology companies and the general acceptance of electronic money have necessitated the enactment of the Payment Systems and Services Act, 2019 (Act 987) to provide the legal and regulatory framework for the orderly development of the payment system. 1. endobj '�K0N �-��.,�B��l����t8��@� �߇��}�Fǵ���!>���� k>���P�#Tv��X��n�F ��\{����h��\/!�֣�iz�w� Fi���1jpO�.G��! <> Guidelines on Licensing for Payment Service Providers under the Payment Services Act. )�q�)����qg�q`�#�^�/^w8��'w����)�O6GG�.���!쓟��\�#�lV�C:�LJ� !%�A� ,V�H'�eyWo���RH�l~���=e�S�j� ׇS����X�w��=������Y��W��4֦o�g�����2c(�h]`�s �$�%��ko޼Z�'�x^!^~�t����mW$&�G@ah�]�\��q��_a�_}���G�. The Central Bank of Nigeria (CBN) Guidelines For Licensing and Regulation of Payment Service Banks in Nigeria. Licensing, Authorisation and Registration. Service Providers (‘PTSPs); and Payment Solutions Service Providers (PSSPs). Different licences are granted to (i) money-changers, (ii) standard payment institutions (SPIs), and (iii) major payment institutions (MPIs). endobj ���� JFIF ` ` �� C Cybersecurity Guideline for Payment Service Providers | CBK Cybersecurity Guideline for Payment Service Providers Pursuant to Section 31 (2) (b) of the National Payment System Act, 2011 which empowers the Central Bank of Kenya to issue Directives and Guidelines, the CBK has developed a Cybersecurity Guideline for Payment Service Providers (PSPs). Consequently, the Central Bank of Nigeria(CBN) commenced a new licensing regime for all categories of payment service providers … 6 0 obj need to complement the services provided by other licensed entities, the CBN issues this regulation to provide for the licensing and operations of Payment Service Banks (PSBs) in Nigeria. 10 0 obj On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers ("Guidelines") to supplement the provisions of the PS Act. They should be read in conjunction with the PS Act, the Payment Services Regulations (“ PSR ”) and other relevant legislation, notices, guidelines and FAQs issued by MAS. 1 0 obj <> The Guidelines set out the eligibility criteria and … buying or selling DPT such as Bitcoin, and/or “facilitating the exchange of DPT”, i.e. Access regulations, updates and licensing information, Regulations, guidance and licensing for deposit-taking institutions, Regulations, guidance and licensing for capital market entities, Regulations, guidance and licensing for insurers, Regulations, guidance and licensing for payment service providers and systems, Information on MAS’ approach, strategies and efforts in these key areas, MAS’ approach to supervision and the instruments under the Acts it administers, Find out about MAS’ strategies to develop and support the financial sector, Discover what makes Singapore a leading global financial centre, Find out how MAS is co-creating a Smart Financial Centre, Latest information on MAS’ FinTech strategy, initiatives and funding schemes, Get funding on proof-of-concepts, hiring, business development and more, Sandbox relaxes regulatory requirements to enable live experiments of innovation, Various payment initiatives including SGQR, FAST and PayNow, World’s first open architecture platform for FIs to discover FinTechs and deploy solutions. The Guidelines are intended to provide guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act and 7 0 obj These guidelines set out the eligibility criteria and application procedures for payment service providers under the Payment Services Act. <> 2. Super Agents are permitted to undertake agent recruitment management and other activities specified in the CBN Regulatory Framework for Licensing Super Agents in Nigeria. Please note that all attachments should be provided in a searchable and comment-enabled format and must … The memorandum and articles of association of payment service providers must be limited to the permissible activities under their licensing authorisation. 3 0 obj Payment System Management Department of CBN. Applies to: Standard Payment Institution , Major Payment Institution , Money-changing Licensee. Soon after the Monetary Authority of Singapore (MAS) announced that the Payment Services Act 2019 (PS Act) will commence on 28 January 2020 (Commencement Date), MAS has now published the Guidelines on Licensing for Payment Service Providers (Guidelines), as well as certain specimen notification and application forms. PSBs are expected to leverage on mobile and digital channels to enhance … The promoters of a PSB shall make a formal presentation of the proposal to the Director, Financial Policy and Regulation Department (FPRD), CBN. The Central Bank of Nigeria (CBN) on Thursday issued guidelines for licensing, regulation and operation of payment service banks (PSBs) in … Guidelines on Licensing for Payment Service Providers The Guidelines provide guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act. %PDF-1.7 Final Guidelines Joint Guidelines under Article 25 of Regulation (EU) 2015/847 on the measures payment service providers should take to detect missing or incomplete information on the payer or the payee, and the procedures they should put in place to manage a transfer of funds lacking the required information . Sports At Liberty University, Commando Dev Actress, How To Open Eml File On Iphone, Westpac Merchant Statements, Trapped In The Closet 23-33 Lyrics, How To Buy Tron In Kenya, Tompkins Industrial Dining Table Review, Hit Meaning In Malayalam, Yawgmoth Vs K Rrik, Canary Islands Green List, Rockies Game Today Live, " />

guidelines on licensing for payment service providers

The applicant must provide all applicable supporting documents listed in the Application Checklist. Related News. Licensing Requirements The promoters of a PSB shall be required to submit a formal application for the grant of a Payment Service Bank licence addressed to the Governor of the CBN. 13 0 obj PAYMENTS SERVICE PROVIDER LICENSE CBN FINTECH LICENSE In the most recent times, financial technology (otherwise known as FINTECH) companies have been evolving with numerous innovative products relating to payments services, which are gaining acceptance in Nigeria. Get notified whenever news and updates are posted on this website. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 595.44 841.68] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> 12 0 obj {+B4�;:� �t���3Š��si\D��O �����RĢq��r�\|p���>�c�6��g�XO�nU��Dw�0���{g������{�/��4�x���0�#��i|@�}p�����1!�p_����1�1"!3�5QB5B���i�q6ɏ�HۀZ��=�k"�}�m�rf�|�=6��8'̄�.��u�����T&��|\(�� �م�߼�.y�_oP����}�J��$�}U*��8�˫t���O��&���^d�9��� �؟ ��5��B�*ҝIhdZ���id��_F�t����OYk��Hs�X����N��i �?���5kWR����m׆��}l��b�6Dk�R���k��+&֟�-�z_o���E��� �[�����ݖ� Soon after the Monetary Authority of Singapore (MAS) announced that the Payment Services Act 2019 (PS Act) will commence on 28 January 2020 (Commencement Date), MAS has now published the Guidelines on Licensing for Payment Service Providers (Guidelines), as well as certain specimen notification and application forms.The Guidelines set out the eligibility criteria and … endobj Guidelines for Licensing of “Payments Banks” November 27, 2014 I. Preamble The Reserve Bank of India (RBI) issues licences to entities to carry on the business of banking and other businesses in which banking companies may engage, as defined and described in Sections 5 (b) and 6 (1) (a) to (o) of the Banking Regulation Act, 1949, respectively. The PSPR provides a clear path for PSPs to obtain SAMA-issued licenses to provide payment services in the KSA. 9 0 obj PI (Payment Institution) or API (Authorized Payment Institution) authorization enables companies to provide financial and intermediary services not only in the Internet business. The promoters of a PSB shall make a formal presentation of the proposal to the Director, Financial Policy and Regulation Department (FPRD), CBN. Guidelines on Licensing for Payment Service Providers [PS-G01] Guidelines on Licensing for Payment Service Providers under the Payment Services Act. 2 Important information before completing the application The regulations for payment service providers stipulated the articles regulating licensing and the requirements necessary for the practice of providing payment activities and services. 2 0 obj <> endobj <> 1.1 The Guidelines on Licensing for Payment Service Providers (the “Guidelines”) are intended to provide guidance on the licensing criteria and ongoing requirements for payment service providers under the Payment Services Act (the “PS Act”). This restricts section 35(1) of the Companies and Allied Matters Act 2020 (which allows unlimited objects subject to restrictions in the Payment Services Provider Regulations (PSPR), which was introduced in January 2020 to regulate Payment Services Providers (PSPs) operating in the Kingdom of Saudi Arabia (KSA). The guidelines for licensing and regulation of Payment Service Banks (PSBs) have been placed on a minimum capital base of N5 billion and a N2 million licensing fee respectively. MAS publishes Guidelines on Licensing for Payment Service Providers and releases specimen forms Soon after the Monetary Authority of Singapore (MAS) announced that the Payment Services Act 2019 (PS Act) will commence on 28 January 2020 (Commencement Date), MAS has now published the Guidelines on Licensing ",#(7),01444'9=82. In particular, payment service providers will only need one licence to conduct specified payment services, and MAS’ regulatory ambit will be extended to also cover digital payment token (DPT) services (“dealing in DPT”, i.e. endobj &5> Licensing Requirements The promoters of a PSB shall be required to submit a formal application for the grant of a Payment Service Bank licence addressed to the Governor of the CBN. If you are planning to provide payment services or issue electronic money, you will need to apply with the FCA for registration or authorization, either as a Payment Institution (PI) or Electronic Money Institution (EMI). <> 2. guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act Without these systems, a payment services provider will be able to facilitate payments for his customers only within the closed group of his customers. MAS issues Guidelines on Licensing for Payment Service Providers On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers (“Guidelines”) to supplement the provisions of the PS Act. x��XKo�F���#@�}?� �-Ѫ�Xv,&A���:���E[e����u%n*H��b�ڝ���3�3��l��My��۷�IӔ�?���%+�oY�pWe��r�.�U��?�l��ߪ�{�y�N'c�(���Z#��r�H V2�-l����X��p��1`����R The PSPR update comes on the heels of SAMA’s newly issued . 4 0 obj <> Kindly review the aforementioned and forward your inputs to the Director, Banking & Payments System Department and pspo@cbn.gov.ng not later than October 29, 2018. 2. Core payment software vendor SDK.finance prepared a detailed how-to guide on how to get Payment Institution or Electronic Money Institution license in the UK.. other payments services providers. establishing or operating a DPT exchange) and merchant acquisition services. On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers to supplement the provisions of the Payments Services Act 2019. endobj endobj Licensing and Authorisation of Payment Service Providers The emergence of new payment streams, institutions such as financial technology companies and the general acceptance of electronic money have necessitated the enactment of the Payment Systems and Services Act, 2019 (Act 987) to provide the legal and regulatory framework for the orderly development of the payment system. 1. endobj '�K0N �-��.,�B��l����t8��@� �߇��}�Fǵ���!>���� k>���P�#Tv��X��n�F ��\{����h��\/!�֣�iz�w� Fi���1jpO�.G��! <> Guidelines on Licensing for Payment Service Providers under the Payment Services Act. )�q�)����qg�q`�#�^�/^w8��'w����)�O6GG�.���!쓟��\�#�lV�C:�LJ� !%�A� ,V�H'�eyWo���RH�l~���=e�S�j� ׇS����X�w��=������Y��W��4֦o�g�����2c(�h]`�s �$�%��ko޼Z�'�x^!^~�t����mW$&�G@ah�]�\��q��_a�_}���G�. The Central Bank of Nigeria (CBN) Guidelines For Licensing and Regulation of Payment Service Banks in Nigeria. Licensing, Authorisation and Registration. Service Providers (‘PTSPs); and Payment Solutions Service Providers (PSSPs). Different licences are granted to (i) money-changers, (ii) standard payment institutions (SPIs), and (iii) major payment institutions (MPIs). endobj ���� JFIF ` ` �� C Cybersecurity Guideline for Payment Service Providers | CBK Cybersecurity Guideline for Payment Service Providers Pursuant to Section 31 (2) (b) of the National Payment System Act, 2011 which empowers the Central Bank of Kenya to issue Directives and Guidelines, the CBK has developed a Cybersecurity Guideline for Payment Service Providers (PSPs). Consequently, the Central Bank of Nigeria(CBN) commenced a new licensing regime for all categories of payment service providers … 6 0 obj need to complement the services provided by other licensed entities, the CBN issues this regulation to provide for the licensing and operations of Payment Service Banks (PSBs) in Nigeria. 10 0 obj On 18 December 2019, the MAS issued the Guidelines on Licensing for Payment Service Providers ("Guidelines") to supplement the provisions of the PS Act. They should be read in conjunction with the PS Act, the Payment Services Regulations (“ PSR ”) and other relevant legislation, notices, guidelines and FAQs issued by MAS. 1 0 obj <> The Guidelines set out the eligibility criteria and … buying or selling DPT such as Bitcoin, and/or “facilitating the exchange of DPT”, i.e. Access regulations, updates and licensing information, Regulations, guidance and licensing for deposit-taking institutions, Regulations, guidance and licensing for capital market entities, Regulations, guidance and licensing for insurers, Regulations, guidance and licensing for payment service providers and systems, Information on MAS’ approach, strategies and efforts in these key areas, MAS’ approach to supervision and the instruments under the Acts it administers, Find out about MAS’ strategies to develop and support the financial sector, Discover what makes Singapore a leading global financial centre, Find out how MAS is co-creating a Smart Financial Centre, Latest information on MAS’ FinTech strategy, initiatives and funding schemes, Get funding on proof-of-concepts, hiring, business development and more, Sandbox relaxes regulatory requirements to enable live experiments of innovation, Various payment initiatives including SGQR, FAST and PayNow, World’s first open architecture platform for FIs to discover FinTechs and deploy solutions. The Guidelines are intended to provide guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act and 7 0 obj These guidelines set out the eligibility criteria and application procedures for payment service providers under the Payment Services Act. <> 2. Super Agents are permitted to undertake agent recruitment management and other activities specified in the CBN Regulatory Framework for Licensing Super Agents in Nigeria. Please note that all attachments should be provided in a searchable and comment-enabled format and must … The memorandum and articles of association of payment service providers must be limited to the permissible activities under their licensing authorisation. 3 0 obj Payment System Management Department of CBN. Applies to: Standard Payment Institution , Major Payment Institution , Money-changing Licensee. Soon after the Monetary Authority of Singapore (MAS) announced that the Payment Services Act 2019 (PS Act) will commence on 28 January 2020 (Commencement Date), MAS has now published the Guidelines on Licensing for Payment Service Providers (Guidelines), as well as certain specimen notification and application forms. PSBs are expected to leverage on mobile and digital channels to enhance … The promoters of a PSB shall make a formal presentation of the proposal to the Director, Financial Policy and Regulation Department (FPRD), CBN. The Central Bank of Nigeria (CBN) on Thursday issued guidelines for licensing, regulation and operation of payment service banks (PSBs) in … Guidelines on Licensing for Payment Service Providers The Guidelines provide guidance on the licensing criteria and ongoing requirements for payment service providers under the PS Act. %PDF-1.7 Final Guidelines Joint Guidelines under Article 25 of Regulation (EU) 2015/847 on the measures payment service providers should take to detect missing or incomplete information on the payer or the payee, and the procedures they should put in place to manage a transfer of funds lacking the required information .

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