Regulatory AlertsCameroon: fintech & payments regulation
RegulatedCEMAC-regulated fintech: BEAC/COBAC licensing for PSPs and e-money; no standalone VASP regime
- Lead regulator
- BEAC (Central Bank of Central African States)
- Also involved
- COBAC (banking supervision) · National Financial Intelligence Unit (AML/CFT)
- Core law
- CEMAC Regulation No. 03/2016 on Payment Systems
- Entry capital
- —
- Approval timeline
- —
- Customer assets
- Segregated or held by authorized credit institutions
- Data protection
- Law 2010/012 · National Data Protection Commission
- Sandbox
- No
Cameroon is part of the CEMAC monetary union, where fintech and payment activities are regulated regionally by the Bank of Central African States (BEAC) and the Central African Banking Commission (COBAC). The primary framework is CEMAC Regulation No. 03/2016, which governs payment systems and electronic money issuance. There is no distinct 'fintech' or 'VASP' license; activities are subsumed under Payment Service Provider (PSP) or Electronic Money Issuer authorizations. The regulatory environment is centralized, with strict interoperability and technical standards enforced by BEAC.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Payment processing / gateway | LicencePayment Service Provider (PSP) Authorization[1] Requires BEAC authorization under CEMAC Reg. 03/2016 | — | — | BEAC |
| E-money & wallet issuance | LicenceElectronic Money Issuer Authorization[1][2] Requires BEAC authorization; interoperability mandated | — | — | BEAC |
| Domestic money transfer | LicencePayment Service Provider (PSP) Authorization[1] Domestic transfers fall under PSP scope | — | — | BEAC |
| Cross-border remittance | LicencePayment Service Provider (PSP) Authorization[1] Cross-border payments regulated under CEMAC payment rules | — | — | BEAC |
| Agent network | LicencePayment Service Provider (PSP) Authorization[1] Agents operate under the PSP's authorization | — | — | BEAC |
| Open banking / account information | Uncertainverify with regulator No specific open banking framework identified | — | — | — |
| Foreign-exchange services | LicenceCredit Institution or PSP Authorization[1][3] FX is restricted within CEMAC; requires banking/PSP license | — | — | BEAC / COBAC |
New — what changed recently
- 2025-11-19BEAC Instruction N° 001/GR/2025 — Mandated adoption of ISO 20022 standard for all CEMAC payment systems[4]
- 2024-12-20CEMAC Regulation No. 01/24 — Established single authorization for credit institutions to expand across CEMAC[5]
- 2023-12-05BEAC Circular Letter No. 004/DGE/DSMP/2023 — Defined mandatory restitution procedures for erroneous PSP transfers[6]
Market-entry checklist
- 1Secure BEAC PSP/E-money AuthorizationApply to BEAC for authorization under CEMAC Regulation No. 03/2016 as a Payment Service Provider or Electronic Money Issuer.
- 2Ensure ISO 20022 ComplianceAdapt technical systems to the ISO 20022 standard as mandated by BEAC Instruction N° 001/GR/2025.
- 3Establish InteroperabilityImplement technical and operational frameworks to ensure full interoperability with other CEMAC payment systems.
- 4Register with COBACIf operating as a credit institution or subsidiary, comply with COBAC supervision and reporting requirements.
- 5Implement AML/CFT FrameworkEstablish robust Anti-Money Laundering and Counter-Terrorist Financing procedures compliant with CEMAC regional standards.
Sources
- Regulation No. 03 – CEMAC-UMAC-CM of December 21, 2016 on Payment Systems, Means and Incidents · 2016-12-21
- List of Beneficiaries of the Electronic Money Emission Authorization · 2016-10-01
- COBAC Regulation R-2009/02 on Credit Institution Categories, Legal Forms, and Authorized Activities · 2009-04-14
- BEAC Instruction N° 001/GR/2025 on Adopting ISO 20022 for CEMAC Payment Systems · 2025-11-19
- Single Authorization for Credit Institutions in the CEMAC Region (Regulation No. 01/24) · 2024-12-20
- Procedure for Restitution of Erroneous Fund Transfers by Payment Service Providers in CEMAC · 2023-12-05