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Financial Services | Mobile Money Separated From Telecom Operations | Enactment Of National Payment System ACT 2020

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Posted May 26, 2021 by Ugandan Diaspora News Team in Business ~ 1,612 views

     

Press Release – Following the enactment of the National Payment Systems (NPS) Act, 2020 on 4 September, 2020 and the gazetting of the NPS Implementing Regulations on 5 March, 2021, Bank of Uganda has commenced licensing of; Payment System Operators, Payment Service Provider and Issuers of Payment Instruments.

Pursuant to Section 9 of the National Payment Systems Act, 2020 and Regulation 3 of the National Payment Systems Regulations, 2021, Bank of Uganda has issued licences to the following entities:

1. Airtel Mobile Commerce Uganda Limited
2. MTN Mobile Money Uganda Limited

In addition, Wave Transfer Limited received Bank of Uganda’s approval to operate under the Regulatory Sandbox Framework, pursuant to Section 16 of the National Payment Systems Act, 2020 and Regulation 5 of the National Payment Systems (Sandbox) Regulations, 2021.

Bank of Uganda will continue to support the development of a vibrant and resilient payments eco-system that promotes economic growth.

For further enquiries, please call 0414-258441/6 or email us on info@bou.or.ug


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Ugandan Diaspora News Team

Ugandan Diaspora News Online is an independent, non political news portal primarily aimed at serving Ugandans who work and reside outside Uganda. Our aim is to be a one stop shop for everything Ugandan and the celebration of our Ugandan heritage.

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