What does it take to get a payment processing licence in Mauritius?
To hold a payment processing licence in Mauritius, you need the Payment Service Provider licence from Bank of Mauritius. Published minimum capital: Rs 5,000,000 for a payment service provider providing payment-processing services (Second Schedule items (a)–(e): cash placement, cash withdrawal, execution of payment transactions, credit-line execution, and issue of payment instruments/acquiring). The Second Schedule sets other minima by service class: money remittance Rs 3,000,000; payment initiation services Rs 3,000,000; account information services Rs 1,000,000; small e-money issuer Rs 3,000,000; large e-money issuer Rs 5,000,000; operator of a payment/clearing/settlement system Rs 50,000,000. Capital must be maintained at all times in Mauritius (reg 8(1)). 5 entities currently hold a payment processing licence in Mauritius. Full requirements — minimum capital, local presence, timeline, local ownership, fees and ongoing obligations — are set out below in each instrument's own words, with source and date; amounts are in the statute's own currency.
“Payment processing” here is the normalized activity: Provide payment processing / payment solution services without holding customer funds. Providers in this category cannot keep customers' money.
Activity id (as used by the Afriset MCP): fintech:PAYMENT_PROCESSING
Payment Service Provider
Bank of Mauritius| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | Rs 5,000,000 for a payment service provider providing payment-processing services (Second Schedule items (a)–(e): cash placement, cash withdrawal, execution of payment transactions, credit-line execution, and issue of payment instruments/acquiring). The Second Schedule sets other minima by service class: money remittance Rs 3,000,000; payment initiation services Rs 3,000,000; account information services Rs 1,000,000; small e-money issuer Rs 3,000,000; large e-money issuer Rs 5,000,000; operator of a payment/clearing/settlement system Rs 50,000,000. Capital must be maintained at all times in Mauritius (reg 8(1)). Verbatim“For a payment service provider to provide the following payment service — (a) services enabling cash to be placed on a payment account, including all operations required for operating a payment account 5 million; (b) services enabling cash withdrawal from a payment account 5 million; (c) execution of payment transactions 5 million; (d) execution of payment transactions where the funds are covered by a credit line for a payment service user 5 million; (e) issue of payment instruments and/or acquiring of payment transactions 5 million; (f) money remittance 3 million; (g) payment initiation services 3 million; (h) account information services 1 million; (i) any other services functional to the transfer of money, including the issuance of electronic money (i) small e-money issuer 3 million (ii) large e-money issuer 5 million. For an operator of a payment system, clearing system or settlement system 50 million … a licensee shall, after deducting its accumulated losses, maintain at all times in Mauritius — (a) the appropriate minimum capital specified in the Second Schedule” | National Payment Systems (Authorisation and Licensing) Regulations 2021 (GN 118/2021; Gazette No. 72 of 31 May 2021; as amended by GN 239/2024) — reg 2 (definitions), reg 4 (application/timeline), reg 5 (fees), reg 6 (presence/AML), reg 8 (capital), First + Second Schedules | 2021-05-31 |
| Local presence / incorporation | A licensee must have a principal place of business in Mauritius, with staffing and operating costs commensurate with the size and complexity of its business; capital is maintained in Mauritius; "physical presence" means management and staff located in the country of incorporation and licensing (not a local agent or below-management staff). Verbatim“A licensee shall have a principal place of business in Mauritius and its staffing requirement and estimated operating costs shall be commensurate with the size and complexity of its business. … \"physical presence\" — (a) means the management and staff located in the country in which the licensee is incorporated and licensed; but (b) does not include the presence, in Mauritius, of a local agent or staff below management level” | National Payment Systems (Authorisation and Licensing) Regulations 2021 (GN 118/2021; Gazette No. 72 of 31 May 2021; as amended by GN 239/2024) — reg 2 (definitions), reg 4 (application/timeline), reg 5 (fees), reg 6 (presence/AML), reg 8 (capital), First + Second Schedules | 2021-05-31 |
| Timeline | The central bank must, within 30 days of receiving an application, notify the applicant whether it is complete; and within 60 working days of a complete application (or of the submission of required supplementary information), determine the application and give written notice. Verbatim“The central bank shall, within 30 days from the receipt of an application under paragraph (1) — (a) notify the applicant, in writing, of whether the application is complete or not … The central bank shall, within 60 working days from receipt of a complete application or the submission of any supplementary information and documents required by the central bank, determine an application and give written notice thereof to the applicant.” | National Payment Systems (Authorisation and Licensing) Regulations 2021 (GN 118/2021; Gazette No. 72 of 31 May 2021; as amended by GN 239/2024) — reg 2 (definitions), reg 4 (application/timeline), reg 5 (fees), reg 6 (presence/AML), reg 8 (capital), First + Second Schedules | 2021-05-31 |
| Local ownership | No such requirement: The NPS licensing regime imposes no local-shareholding or nationality cap on a payment service provider. "Significant interest" (20% of capital/voting rights or board appointment) is a change-of-control and fit-and-proper trigger (reg 8(3), reg 3(6)(d)), not a Mauritian-ownership floor. | National Payment Systems (Authorisation and Licensing) Regulations 2021 (GN 118/2021; Gazette No. 72 of 31 May 2021; as amended by GN 239/2024) — reg 2 (definitions), reg 4 (application/timeline), reg 5 (fees), reg 6 (presence/AML), reg 8 (capital), First + Second Schedules | 2021-05-31 |
| Fees | Non-refundable application fee: Rs 25,000 per payment service. Annual issue/renewal fee (due 1 July, automatic renewal on payment): Rs 100,000 for the basic payment services (First Schedule (a)–(c)) and Rs 500,000 for credit-line execution and issue of payment instruments/acquiring (First Schedule (d)–(e)). Fees are cumulative where more than one service is provided (reg 5(2)); a 25 per cent surcharge applies to payment made after 10 July (reg 5(3)). Verbatim“(a) services enabling cash to be placed on a payment account 25,000 / 100,000; (b) services enabling cash withdrawal from a payment account 25,000 / 100,000; (c) execution of payment transactions 25,000 / 100,000; (d) execution of payment transactions where the funds are covered by a credit line 25,000 / 500,000; (e) issue of payment instruments and/or acquiring of payment transactions 25,000 / 500,000 … A licensee shall pay the appropriate fee specified in the First Schedule on 1 July of every year and the authorisation or licence shall, on payment of the appropriate fee, be deemed to have been automatically renewed” | National Payment Systems (Authorisation and Licensing) Regulations 2021 (GN 118/2021; Gazette No. 72 of 31 May 2021; as amended by GN 239/2024) — reg 2 (definitions), reg 4 (application/timeline), reg 5 (fees), reg 6 (presence/AML), reg 8 (capital), First + Second Schedules | 2021-05-31 |
| Ongoing obligations | A licensee must maintain an AML/CFT and proliferation-financing transaction-monitoring system and adequate qualified full-time officers; pay the annual fee on 1 July (automatic renewal on payment); and may not change its shareholding structure so as to let any person acquire a significant interest without the central bank's written approval. Verbatim“A licensee shall have an adequate number of suitably qualified full-time officers, including a chief executive officer and other senior officers, and shall have in place — (a) an anti-money laundering and combatting the financing of terrorism and proliferation transaction monitoring system … A licensee shall not, without the written approval of the central bank, cause or permit any change in its shareholding structure which may, directly or indirectly, cause any shareholder or other person to acquire a significant interest in the licensee.” | National Payment Systems (Authorisation and Licensing) Regulations 2021 (GN 118/2021; Gazette No. 72 of 31 May 2021; as amended by GN 239/2024) — reg 2 (definitions), reg 4 (application/timeline), reg 5 (fees), reg 6 (presence/AML), reg 8 (capital), First + Second Schedules | 2021-05-31 |
Requirements as published in the cited instruments — not legal or compliance advice. Capital and fees are shown in the currency the statute itself uses. Where a value is located but not yet verified, we show that it exists but don't publish the figure. Verify directly with the regulator.
Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.
Who already holds this licence?
5 entities are on the Bank of Mauritius register under the Payment Service Provider category — view the register .
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