Regulatory Alerts2025-08-27
National Payment Systems Act 2018
Enacted by the Parliament of Mauritius, this legislation designates the Bank of Mauritius as the primary regulatory authority responsible for regulating, overseeing, and supervising national payment systems to ensure their safe, secure, efficient, and accessible operation. The Act establishes a comprehensive authorization and licensing framework for payment system operators and service providers while mandating transparency of fees, clear disclosure of terms, and robust consumer complaint mechanisms. It further empowers the central bank to issue directives, conduct regular examinations, enforce anti-money laundering compliance, and guarantees legal certainty regarding settlement finality, collateral arrangements, and the precedence of system rules over general insolvency law.