What does it take to get a payment switching licence in Rwanda?
To hold a payment switching licence in Rwanda, you need the Payment System Operators licence from National Bank of Rwanda. Published minimum capital: FRW 500,000,000 (a designated payment system under Reg 75/2023 Art 18 — higher than any Reg 74 PSP category). 1 entity currently holds a payment switching 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 switching” here is the normalized activity: Own or operate payment switching, routing, clearing or interoperability infrastructure between payment service providers, issuers, acquirers and schemes.
Activity id (as used by the Afriset MCP): fintech:SWITCHING
Payment System Operators
National Bank of Rwanda| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | FRW 500,000,000 (a designated payment system under Reg 75/2023 Art 18 — higher than any Reg 74 PSP category) Verbatim“The designated payment system holds a minimum paid up cash capital of not less than FRW 500,000,000.” | Regulation N° 75/2023 of 18/09/2023 on payment systems (same Gazette n° 38 Bis) — for the switch/PSO capital | 2023-09-25 |
| Local presence / incorporation | A value has been located but not yet verified, so we don't publish it here. | — | — |
| Timeline | A value has been located but not yet verified, so we don't publish it here. | — | — |
| Local ownership | No such requirement: No local-shareholding % found | 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 | A value has been located but not yet verified, so we don't publish it here. | — | — |
| Ongoing obligations | Maintain FRW 500m capital "unimpaired by losses … at all times"; default/insolvency + outsourcing risk arrangements Verbatim“The designated payment system shall demonstrate the ability to maintain its capital funds, unimpaired by losses at the prescribed minimum amount at all times.” | Regulation N° 75/2023 of 18/09/2023 on payment systems (same Gazette n° 38 Bis) — for the switch/PSO capital | 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?
1 entity is on the National Bank of Rwanda register under the Payment System Operators category — view the register .
Related
Everything Afriset holds on Rwanda →
Related questions