2020-06-29

Payment Service Providers Authorisation Checklist

The checklist outlines the requirements for Payment Service Providers (PSPs) seeking authorization in Kenya, including preliminary engagements, company and product name approval, company documents, evidence of capital, business plan, program of operations, governance, and internal control mechanisms. Applicants must submit a sworn affidavit, application fee, business model, financial projections, and regulatory compliance information. Evidence of capital includes bank statements, government bonds, and shareholder distribution details. The business plan should cover services offered, financial projections, and compliance with anti-money laundering regulations.

Kenya

Central Bank of Kenya

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