Surrender of payment service authorisation requires liability settlement, customer notice, regulatory review, and certificate cancellation.

Surrender of authorisation by an operational Payment Service Provider requires a Board-approved written request, a Chartered Accountant's certificate of customer balances, escrow details and liabilities, a liability repayment plan, and an undertaking not to incur fresh liabilities. The Authority may require public notices and monthly progress reports. Following extinguishment of customer and merchant liabilities, a statutory auditor's no-liability certificate and the original Certificate of Authorisation must be submitted for cancellation. Providers that have not commenced operations must additionally establish non-commencement and submit their latest audited balance sheet.

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