Regulatory Alerts2024-06-21
PSD-6 Determination for the Authorisation of Payment System Operators and System Participants
The Bank of Namibia issued Determination PSD-6 under the Payment System Management Act, 2023, to establish the regulatory framework for authorizing payment system operators and system participants. The document details the application processes, governance, technical, and risk management requirements that entities must satisfy to operate or access Namibia's national payment systems. It further outlines ongoing compliance obligations, including annual testing and reporting, as well as the Bank's powers to suspend, revoke, or vary authorizations to ensure system stability and participant protection.
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