What does it take to get a payment processing licence in Rwanda?
To hold a payment processing licence in Rwanda, you need the Aggregator licence from National Bank of Rwanda. Published minimum capital: FRW 100,000,000 (Reg 74/2023 Category II). 32 entities currently hold a payment processing licence in Rwanda. 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
Aggregator
National Bank of Rwanda| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | FRW 100,000,000 (Reg 74/2023 Category II) Verbatim“An applicant wishing to be licensed under payment services category II, must have a minimum initial capital of not less FRW 100,000,000.” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Local presence / incorporation | Same as Cat I — Rwandan incorporation + place of business + resident CEO/MD Verbatim“the applicant is a company incorporated under the Law governing companies in Rwanda; … has a permanent place of business, or a registered office in Rwanda; … the chief executive officer or managing director of the applicant is a citizen or resident of Rwanda” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Timeline | Decision within 90 days (processing time) Verbatim“The Central Bank, within 90 days after receipt of a complete application, investigates and prepares a response to the applicant.” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Local ownership | No such requirement: No local-shareholding % in official text | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Fees | Application FRW 3,000,000 (Cat II). Annual: same oversight fee (≥0.5% prior-year gross income) Verbatim“…proof of payment of FRW 3,000,000” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
| Ongoing obligations | Perpetual licence; collection accounts held in licensed institutions (and, for a small e-money Cat II issuer, a trusteeship arrangement); maintain capital; AML/CFT; reporting; annual oversight fee Verbatim“The institution licensed under payment services category II, ensures that there are collection accounts held in licensed institutions.” | Regulation N° 74/2023 of 18/09/2023 governing payment service providers (Official Gazette n° 38 Bis of 25/09/2023) | 2023-09-25 |
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.
Who already holds this licence?
32 entities are on the National Bank of Rwanda register under the Aggregator category — view the register .
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