Payment service provider authorisation depends on experience, infrastructure, financial soundness, fitness, compliance record, and user protection. Payment Service Provider authorisation depends on relevant experience, adequate operational infrastructure, compliance with net-worth requirements and ... Summary
International Financial Services Centres Authority (Payment Services) Regulations, 2024
Payment service provider authorisation depends on experience, infrastructure, financial soundness, fitness, compliance record, and user protection.
Payment Service Provider authorisation depends on relevant experience, adequate operational infrastructure, compliance with net-worth requirements and financial soundness. The applicant and relevant persons must meet fit and proper requirements, with prior refusals of authorisation and proceedings for breach of law also considered. Adequate protection of Payment Services Users, including through governing terms and conditions, is required.
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