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PAYMENT INTERMEDIARY SERVICES PROVIDER

Payment intermediary Services Provider (PIS) (or Payment Service Provider (PSP) as known in other jurisdictions) licence holders are entities that operate as payment gateways that allow e-Commerce business to accept different types of online.

The PIS Licence can also offer Merchant billing, clearing and settlement, risk management, fraud protection, transaction payment reporting and transaction payment reconciliation.

Code
Class of Licence
Minimum Capital Requirements
FS-2.9
Payment Intermediary Services
MUR 2,000,000 (Approx. USD 45,000)

The PIS Licence is a special licence category and has to mandatorily be a GBL and hence the need for 2 resident directors. Additionally, PIS must ensure compliance with the relevant legislations including the National Payment System Act.

LMS will provide you with premier professional services including but not limited to:

  • Advice and Formation of PIS
  • Licence Application and Renewal of PIS Licence
  • Provision of registered office address
  • Provision of two resident directors and qualified secretary resident in Mauritius
  • Obtention od pre-approval to open principal bank account in Mauritius
  • Provision of MLRO, DMLRO and Compliance Officer
  • Preparation of management accounts, financial statements and filing of audited reports
  • Preparation of filing pf tax returns with the authorities
  • Training of officers and employees
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