Regulatory Alerts2026-01-05
Bank of Namibia Determination on Licensing and Authorisation of Payment Service Providers
The Bank of Namibia issued PSD-1 under the Payment System Management Act, 2023, to establish the regulatory framework for licensing and authorizing payment service providers in Namibia. The Determination outlines distinct implementation processes for banking institutions and non-bank financial institutions, requiring formal applications, business plans, and fitness and probity assessments. It further mandates comprehensive governance, risk management, user protection, and capital requirements to ensure the safety and integrity of the national payment system.
Share