Regulatory Alerts2021-12-07
Circular 121 regarding Electronic Payment Service Providers
The Bank of the Republic of Haiti issued Circular 121 to regulate Electronic Payment Service Providers (FSPs) by establishing strict licensing, capital, and technical requirements for their operations. The directive mandates that FSPs maintain 100% of client funds in liquid assets, enforce individual transaction limits of HTG 100,000, and ensure rigorous client identification and data protection standards. It further outlines the authorization process, permissible activities, and obligations regarding distribution agents and operational continuity to safeguard the electronic payment ecosystem.
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