Regulatory Alerts2013-12-03
PSD-7 Efficiency within the National Payment System
The Bank of Namibia issued Determination PSD-7 under the Payment System Management Act, 2003, to establish guiding principles for assessing the efficiency of the National Payment System. This regulation requires all system participants, payment instrument issuers, and service providers to ensure payments are processed fast, safely, and at a reasonable cost while managing risks and ensuring operational resilience. Compliance is mandatory through reporting requirements, with the determination becoming effective on 31 December 2014 and remedial measures available for non-compliance.
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