Regulatory Alerts2012-04-02
Notice No. 10/2012 of April 2 on the Regulation of Bank Payment Cards
The National Bank of Angola issued Notice No. 10/2012 to regulate the issuance, acceptance, and use of bank payment cards, establishing exclusive roles for banking financial institutions as issuers and acquirers. The regulation mandates written contracts with clear terms, defines forty-one key operational definitions, and imposes strict security, fraud prevention, and transparency requirements on the Multicaixa network. It further outlines specific contractual obligations, dispute resolution mechanisms, and consumer protections to ensure the sustained growth of electronic payment instruments in Angola.
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