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Financial Services

Licensing Payment Businesses, Domestic and Cross-Border

We manage licensing for both cross-border payment intermediary services through the FSC and domestic payment service provision through the Bank of Mauritius.

Overview

Two Regulators, Two Payment Pathways

Payment Solutions covers the licensing of payment businesses in Mauritius, whether the activity is cross-border payment facilitation or domestic payment processing, and these sit under two different regulators with different requirements.

We advise on which licence fits the intended business: a Payment Intermediary Services (PIS) licence from the FSC for cross-border, offshore payment activity such as merchant acquiring and international card processing, or a Payment Service Provider (PSP) licence from the Bank of Mauritius for domestic payment services such as e-wallets and Mauritian Rupee-settled transactions. We manage the application process for both.

2
Regulators, FSC & Bank of Mauritius
Cross-border payment licensing sits with the FSC; domestic payment licensing sits with the Bank of Mauritius.
Cross-Border
PIS Licensing
For offshore payment intermediary services, merchant acquiring, cross-border card processing, and international e-commerce payments.
Domestic
PSP Licensing
For Mauritius-based payment services, including e-wallets and Mauritian Rupee-settled transactions.

What We Provide

Key Features of Our Payment Licensing Service

Licence Pathway Assessment
Advising on whether a PIS or PSP licence (or both) fits the intended payment business.
FSC PIS Application
Preparing and submitting the Payment Intermediary Services licence application to the FSC.
Bank of Mauritius PSP Application
Preparing and submitting the Payment Service Provider licence application to the Bank of Mauritius.
Capital & Compliance Structuring
Advising on the capital and compliance requirements for each licence, which differ significantly in scale and timeline.
AML/CFT Framework
Supporting the anti-money laundering and counter-terrorist financing framework required for payment licensing.
Ongoing Regulatory Support
Advising on reporting and compliance obligations to the relevant regulator once licensed.

Licence Categories

Licences We Secure

Payment Intermediary Services (PIS)
FSC-regulated licence for cross-border, offshore payment facilitation.
Learn More about Payment Intermediary Services (PIS) →
Payment Service Provider (PSP)
Bank of Mauritius-regulated licence for domestic payment services.
Learn More about Payment Service Provider (PSP) →

Process

How It Works

01
Activity Assessment
Understanding the payment business's intended market (cross-border or domestic) to identify the right licence.
02
Regulator & Structuring Proposal
Confirming whether the application goes to the FSC (PIS) or the Bank of Mauritius (PSP), and the entity structure required.
03
Documentation Preparation
Preparing the business plan, AML/CFT framework, and supporting documents the application requires.
04
Licence Application
Submitting the application to the relevant regulator and managing queries through to approval.
05
Capital & Compliance Set-Up
Establishing the capital and compliance infrastructure required to hold the licence.
06
Licensing & Launch
Finalising the licence and transitioning into ongoing operational and reporting support.

Requirements

Requirements & Eligibility

When This Service Applies

  • A business wants to facilitate cross-border, offshore payments, merchant acquiring, international card processing, e-commerce payment facilitation
  • A business wants to offer domestic Mauritius payment services, such as e-wallets or Mauritian Rupee-settled payments
  • A business is unsure which licence fits its intended activity and needs advice on the right pathway

Licensing Considerations

  • PIS and PSP licences involve materially different capital requirements and timelines, and the right choice depends on whether the business is targeting cross-border or domestic activity
  • A business intending to operate in both markets may need both licences, applied for through their respective regulators
  • AML/CFT framework requirements apply to both licence types and should be built into the application from the outset

Common Questions

Frequently Asked Questions

PIS is a Financial Services Commission licence for cross-border, offshore payment activity, Mauritius-domiciled but serving international transactions. PSP is a Bank of Mauritius licence for domestic Mauritius payment services, settled in Mauritian Rupees. They're issued by different regulators under different legislation, not two names for the same thing.
That's typically a PIS licence, since it involves cross-border payment facilitation rather than domestic Mauritius transactions. We assess this against the specific business model during the activity assessment stage.
Not reliably, e-wallets are considered case-by-case under PIS and are a core permitted product under PSP. If e-wallets are central to the business, a PSP licence is the more direct route.
PSP licensing typically takes longer, reflecting the more extensive capital and compliance requirements for domestic payment infrastructure, compared to the offshore-focused PIS pathway.
Potentially, yes, if the business intends to offer both cross-border and domestic payment services, it may need a PIS licence for the offshore activity and a PSP licence for the domestic activity, applied for separately through the FSC and Bank of Mauritius respectively.
Both carry ongoing AML/CFT, reporting, and compliance obligations to their respective regulator. We support clients with these requirements after licensing, not only through the application.

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Building a Payments Business?

Speak with our team about whether a PIS or PSP licence, or both, fits your payment business.

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