How to Obtain a Payment Intermediary Services (PIS) Licence in Mauritius

A Payment Intermediary Services (PIS) licence, issued by the Bank of Mauritius under the National Payment Systems Act 2018, enables holders to process electronic payments between payers and payees. WHAT ACTIVITIES DOES A PIS LICENCE COVER? • Acting as a payment intermediary between merchants and payment networks • Processing electronic payment transactions on behalf of merchants or end-users • Operating as a payment gateway routing transactions • Payment aggregation and settlement services KEY LICENSING REQUIREMENTS Capital: Minimum MUR 5 million (approximately USD 110,000). Local Presence: Registered office in Mauritius. GBC or domestic company incorporation required. Fit and Proper: All directors, senior management, and shareholders holding 10%+ must pass the Bank of Mauritius assessment. Business Plan: Detailed 3-year plan covering transaction volumes, client acquisition, risk management, technology, and financial projections. AML/CFT Programme: Written AML policy, KYC/KYB procedures, transaction monitoring, SAR/STR reporting, and a designated MLRO — all required before submission. Technology Review: IT architecture, data security, business continuity plan, and cybersecurity framework assessed by the Bank of Mauritius. APPLICATION PROCESS Step 1 — Company incorporation in Mauritius (GBC recommended) Step 2 — Prepare full application: business plan, AML/CFT programme, Fit and Proper documentation, capital evidence, technology documentation Step 3 — Submit to the Bank of Mauritius Payment Systems Division Step 4 — Review period: 3–6 months; information requests are standard Step 5 — In-principle approval with conditions Step 6 — Final licence issued Total timeline: typically 4–8 months from a well-prepared application. WHY MAURITIUS? Mauritius offers 15% flat income tax, 40+ double taxation agreements, FATF-compliant status, English common law, and SWIFT connectivity. HOW MARENSA ASSISTS Feasibility assessment, company incorporation, business plan preparation, AML/CFT programme design, application management, banking connections, and post-licensing compliance support. Speak with Marensa before committing to a structure.