RegAlert2022-07-12
Added · Updated
National Payment Systems (Amendment) Regulations, 2022
The Ugandan Minister of Finance, Planning and Economic Development, acting with the Central Bank, issued these regulations to amend the National Payment Systems Regulations of 2021. The amendment substitutes Schedules three and four to define standardized application, licence, and annual fees for payment systems operators and electronic money issuers according to their transaction values or trust account sizes. It further establishes tiered minimum capital requirements ranging from one hundred million to ten billion Ugandan shillings, ensuring proportional financial resilience across large, medium, and small payment service providers.
BOU published 1 document in the last 30 days — get each new one by email the day it lands.
STATUTORY INSTRUMENTS
SUPPLEMENT No. 39 9th September, 2022
STATUTORY INSTRUMENTS SUPPLEMENT to The Uganda Gazette No. 57, Volume CXV, dated 9th September, 2022 Printed by UPPC, Entebbe, by Order of the Government.
STATUTORY INSTRUMENTS
2022 No. 102.
The National Payment Systems (Amendment) Regulations, 2022 (Under section 72 of the National Payment Systems Act, 2020, Act 15 of 2020)
IN EXERCISE of the powers conferred on the Minister by section 72 of the National Payment Systems Act, 2020 and in consultation with the Central Bank, these Regulations are made this 12th day of July, 2022.
1. Title
These Regulations may be cited as the National Payment Systems (Amendment) Regulations, 2022.
2. Amendment of S.I. No. 18 of 2021
The National Payment Systems Regulations, 2021, are amended by substituting for Schedule 3 and Schedule 4 the following—
“SCHEDULE-3
Reg 3 (r), 4 and 5
FEES
| Licence category | Licence class | Application fees (Ug. Shs) | Licence fees (Ug. Shs) | Annual fees (Ug. Shs) |
|---|---|---|---|---|
| Payment systems operator | (a) Funds transfer systems- | |||
| (i) large funds transfer systems whose transaction value exceeds one hundred billion shillings per month; | 3,000,000/= | 25,000,000/= | 25,000,000/= | |
| (ii) medium funds transfer systems whose value exceeds one billion shillings per month but does not exceed one hundred billion shillings per month; | 3,000,000/= | 20,000,000/= | 20,000,000/= | |
| (iii) small funds transfer systems whose transaction value does not exceed one billion shillings per month. | 3,000,000/= | 15,000,000/= | 15,000,000/= | |
| (b) clearing systems or switches | 3,000,000/= | 25,000,000/= | 25,000,000/= | |
| (c) settlement systems | 3,000,000/= | 25,000,000/= | 25,000,000/= | |
| (d) third party systems | 3,000,000/= | 10,000,000/= | 10,000,000/= | |
| Payment service provider | (a) Large electronic money issuer whose total trust account value exceeds one hundred billion shillings. | 3,000,000/= | 25,000,000/= | 25,000,000/= |
| (b) medium electronic money issuer- | ||||
| (i) whose total trust account value exceeds fifty billion shillings but does not exceed one hundred billion shillings; | 3,000,000/= | 20,000,000/= | 20,000,000/= | |
| (ii) whose total trust account value exceeds five billion shillings but does not exceed fifty billion shillings; | 3,000,000/= | 18,000,000/= | 18,000,000/= | |
| (iii) whose total trust account value exceeds five hundred million shillings but does not exceed five billion shillings; | 3,000,000/= | 16,000,000/= | 16,000,000/= | |
| (c) small electronic money issuer- | ||||
| (i) whose total trust account value exceeds two hundred and fifty million shillings but does not exceed five hundred million shillings; | 3,000,000/= | 15,000,000/= | 15,000,000/= | |
| (ii) whose total trust account does not exceed two hundred and fifty million shillings. | 3,000,000/= | 10,000,000/= | 10,000,000/= | |
| Issuer of a payment instrument | (d) any other payment service provider licence. | Nil | Nil | Nil |
SCHEDULE - 4
Reg 3 (2) and 8 (1)
MINIMUM CAPITAL REQUIREMENTS
| Licence category | Licence class | Minimum Capital requirement (Ug. Shillings) |
|---|---|---|
| Payment systems operator | (a) funds transfer systems- | |
| (i) large funds transfer systems whose transaction value exceeds one hundred billion shillings per month. | 1,000,000,000/= | |
| (ii) medium funds transfer systems whose transaction value exceeds one billion shillings per month but does not exceed one hundred billion shillings per month. | 500,000,000/= | |
| (iii) small funds transfer systems whose transaction value does not exceed one billion shillings per month. | 100,000,000/= | |
| (b) clearing systems or switches | 500,000,000/= | |
| (c) settlement systems | 250,000,000/= | |
| (d) third party systems | 100,000,000/= | |
| Payment service provider | (a) large electronic money issuer whose total trust account value exceeds one hundred billion shillings. | 10,000,000,000/= |
| (b) medium electronic money issuer- | ||
| (i) whose total trust account value exceeds fifty billion shillings but does not exceed one hundred billion shillings | 5,000,000,000/= | |
| (ii) whose total trust account value exceeds five billion shillings but does not exceed fifty billion shillings. | 2,000,000,000/= | |
| (iii) whose total trust account value exceeds five hundred million but does not exceed five billion shillings. | 1,000,000,000/= | |
| (c) small electronic money issuer- | ||
| (i) whose total trust account value exceeds two hundred and fifty million but does not exceed five hundred million shillings. | 250,000,000/= | |
| (ii) whose total trust account does not exceed two hundred and fifty million shillings. | 100,000,000/= | |
| (d) Any other payment service provider. | 100,000,000/= |
HON. MATIA KASAIJA (MP)
Minister of Finance Planning and Economic Development
Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.
Lineage: In force
Similar documents from other regulators
CBBNational Payment System Regulations, 2024Belize · 2024-02-12
RBFNational Payment System Regulations 2022Fiji · 2022-04-29
NBENational Payment System (Amendment) Proclamation No. 1282/2023Ethiopia · 2023-04-27
BOMNational Payment Systems (Authorisation and Licensing) Amendment Regulations 2024Mauritius · 2024-10-23
BOZNational Payment Systems Directives on Electronic Money Issuance, 2023Zambia · 2023-07-14
BNRRegulation No 75/2023 on the Designation of Payment SystemsRwanda · 2023-09-18
CBKNational Payment System Regulations 2014Kenya · 2018-12-31
Source: Bank of Uganda — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works