Electronic Money (E-Money) participant — Namibia

The Namibia category mapped to e-money issuance.

The E-Money column of the Bank of Namibia National Payment System Participants matrix — an entity authorised to participate in the issuing of electronic money under the Payment System Management Act, 2023 (BoN licenses PSPs under s.10 since the PSM Act moved licensing from the PAN co-model to BoN alone) and Determination PSD-3 (Issuing of Electronic Money in Namibia). Register-over-statute: the register materializes e-money as a per-service participation column, so the category mirrors the column. The marks are icons (fa-square-check = Direct participant / fa-ellipsis-vertical = Indirect participant, per the page legend); the register is name-keyed (no licence numbers). Both banks and authorised non-banks appear (the KE/ZA banks-in-register precedent — the page: « Participation in the National Payment System is available to any banking or authorised non-banking entity, provided the regulatory requirements/criteria are met »); each fact's note carries the entity's other participation axes (NISS/EFT/Card-switch/SADC-RTGS) verbatim, the CD « Rayon d'action » pattern. E-money issuers are the PSM Act « payment instrument issuer » category (PSD-1 8.6.1) issuing e-money. ⚠ ONLY DIRECT MARKS MINT (ADR-088): an « Indirect participant » mark is HELD with an anomaly and produces no fact. In NPS matrices an indirect participant typically rides a direct participant's sponsorship, so minting one as `authorized` in this category would publish our own inference as the register's assertion about a named entity. The register does not settle it: BoN has COMMENTED OUT the icon legend (verified on the live page 2026-08-04), and the legend as written named the two marks without defining either. The semantics live in the Payment System Management Act 2023 / the participation determination, neither of which we hold. Zero rows on the committed register carry an indirect mark, so no published fact rests on this today.

Maintained: this official source is re-checked on a weekly schedule — last checked 2026-08-04 · unchanged since the previous check.

Licensed providers

9 entities

#	Provider	Status (as reported)	Source	Source date
1	Bank Windhoek (BWHK)	authorized	Bank of Namibia	not dated
2	First National Bank (FNB)	authorized	Bank of Namibia	not dated
3	MTC Maris (Pty) Ltd	authorized	Bank of Namibia	not dated
4	Nam-mic Payment Solutions (NPS)	authorized	Bank of Namibia	not dated
5	Nedbank Namibia (NBN)	authorized	Bank of Namibia	not dated
6	Standard Bank Namibia (SBN)	authorized	Bank of Namibia	not dated
7	United PayPoint (Pty) Ltd	authorized	Bank of Namibia	not dated
8	Virtual Technology Services (VTS)	authorized	Bank of Namibia	not dated
9	VIVO Energy Namibia (VIVO)	authorized	Bank of Namibia	not dated

Reading the tables

not dated: — the official source publishes no date of its own. We show our own last-checked date instead of inventing one for the regulator.

Licence requirements

What it takes to hold this licence, as stated in the cited official instruments. Capital and fees are shown in the currency the statute itself uses.

Requirement	As published	Source	Source date
Minimum capital	Not officially published: The initial capital amount is set by the Bank in the "Payment System Notice", which is not published on the public web — the requirement is delegated to a separate instrument the regulator does not host (PSD-1 10.6.1; PSD-3 8.4/11.1.1 delegate identically). No official figure is published.	Determination PSD-1 — Licensing and Authorisation of Payment Service Providers in Namibia (Payment System Management Act, 2023; GG No. 8822, GN No. 1, effective on publication; repeals the 2024 PSD-1) — para 7 (application/authorisation), 8.6 (categories), 10.6 (capital), 12.2 (safeguarding)	2026-01-06
Local presence / incorporation	A value has been located but not yet verified, so we don't publish it here.	—	—
Timeline	No such requirement: PSD-1 sets no statutory end-to-end regulator decision window for a licensing application; on provisional authorisation the Bank may impose conditions to be met within three (3) months (a conditions window, not a regulator decision SLA).	Determination PSD-1 — Licensing and Authorisation of Payment Service Providers in Namibia (Payment System Management Act, 2023; GG No. 8822, GN No. 1, effective on publication; repeals the 2024 PSD-1) — para 7 (application/authorisation), 8.6 (categories), 10.6 (capital), 12.2 (safeguarding)	2026-01-06
Local ownership	No such requirement: The Payment System Management Act, 2023 and PSD-1 impose no local-shareholding or nationality cap on a non-bank payment service provider.	Determination PSD-1 — Licensing and Authorisation of Payment Service Providers in Namibia (Payment System Management Act, 2023; GG No. 8822, GN No. 1, effective on publication; repeals the 2024 PSD-1) — para 7 (application/authorisation), 8.6 (categories), 10.6 (capital), 12.2 (safeguarding)	2026-01-06
Fees	Not officially published: The non-refundable application fee is charged "as prescribed in the Regulations" and the licence fee is "as determined by the Bank in the Payment System Notice" — no official figure is published.	Determination PSD-1 — Licensing and Authorisation of Payment Service Providers in Namibia (Payment System Management Act, 2023; GG No. 8822, GN No. 1, effective on publication; repeals the 2024 PSD-1) — para 7 (application/authorisation), 8.6 (categories), 10.6 (capital), 12.2 (safeguarding)	2026-01-06
Ongoing obligations	Pooled e-money / user funds must at all times equal at least 100% of outstanding liabilities, reconciled daily with any deficiency addressed within one business day — the pooled-funds safeguarding obligation. Verbatim “At all times, the aggregate value of the pooled funds must equal at least 100% of the value of all outstanding liabilities. These funds must be reconciled on a daily basis, with any deficiencies addressed within one (1) business day.”	Determination PSD-3 — Issuing of Electronic Money in Namibia (GG No. 8457, GN No. 561; effective ~2025-03-27) — para 8.4/11.1 (capital), 13.1.5 (safeguarding)	2024-09-27

Requirements as published in the cited instruments — not legal or compliance advice. 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.

The equivalent in other markets

Categories mapped to the same normalized activity — fintech:EMONEY_ISSUE:

Cross-border rules for Namibia →