What does it take to get a payment switching licence in Uganda?
To hold a payment switching licence in Uganda, you need the Payment System Operator licence from Bank of Uganda. Published minimum capital: Clearing systems or switches: UGX 500,000,000. (Other PSO classes: settlement systems 250m; third-party systems 100m; funds-transfer large 1bn / medium 500m / small 100m.). 9 entities currently hold a payment switching licence in Uganda. 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 Operator
Bank of Uganda| Requirement | As published | Source | Source date |
|---|---|---|---|
| Minimum capital | Clearing systems or switches: UGX 500,000,000. (Other PSO classes: settlement systems 250m; third-party systems 100m; funds-transfer large 1bn / medium 500m / small 100m.) Verbatim“(a) funds transfer systems (i) large funds transfer systems whose transaction value exceeds one hundred billion shillings per month. … 1,000,000,000/= (ii) medium funds transfer systems whose transaction value exceeds one billion shillings per month and does not exceed one hundred billion shillings per month. … 500,000,000/= (iii) small funds transfer systems whose transaction value does not exceed one billion shillings per month. … 100,000,000/= … (b) clearing systems or switches — 500,000,000/= … (c) settlement systems — 250,000,000/= … (d) third party systems — 100,000,000/=” | National Payment Systems Regulations, 2021 (S.I. 2021 No. 18) | 2021-02-26 |
| Local presence / incorporation | Objects must satisfy s.8(1); certified incorporation docs; foreign company notarised copy; premises inspected; NITA-U systems licence if operating on electronic platforms Verbatim“proof that the objects … are in accordance with section 8(1) … a certified copy of a systems licence from the National Information Technology Authority Uganda” | National Payment Systems Regulations, 2021 (S.I. 2021 No. 18) | 2021-02-26 |
| Timeline | Processing: within 60 days. Validity: valid until revoked. (Commence within 6 months or licence may be revoked — s.13(1)(c).) Verbatim“failed to commence … within six months” | National Payment Systems Act, 2020 (Cap. 59), consolidated | 2020-09-04 |
| Local ownership | No such requirement: No local-shareholding percentage prescribed | National Payment Systems Regulations, 2021 (S.I. 2021 No. 18) | 2021-02-26 |
| Fees | Clearing systems or switches: application UGX 3,000,000 · licence UGX 25,000,000 · annual UGX 25,000,000 Verbatim“clearing systems or switches — 3,000,000/= … 25,000,000/= … 25,000,000/=” | National Payment Systems Regulations, 2021 (S.I. 2021 No. 18) | 2021-02-26 |
| Ongoing obligations | Develop CB-approved payment-system rules (s.11); maintain settlement accounts (s.26); reserve collateral/liquid assets for settlement (s.39); annual fee by 31 Jan (s.15); 10-yr records (s.63); monthly/quarterly reporting (regs 22–23); risk-management + international standards, Schedule 6 (reg 32); CB approval for outsourcing/merger/cross-border/branch; maintain min capital, 90-day cure (reg 8(3)) Verbatim“An operator of a payment system shall, with the approval of the central bank, develop payment system rules … shall be maintained unimpaired by losses” | National Payment Systems Act, 2020 (Cap. 59), consolidated | 2020-09-04 |
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?
9 entities are on the Bank of Uganda register under the Payment System Operator category — view the register .
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