Designation of Payment Systems
In line with the requirements of the National Payment Systems Act (2007), any person intending to conduct payment business shall require designation by the Zambia. This requirement is aimed at ensuring that only institutions that are dully licenced by the Bank of Zambia offer payment systems service in Zambia. This is aimed at ensuring a safe and secure national payment system.
The designation process usually takes the form as highlighted below. Applicants are encouraged to meet all requirements in order to minimize delay of the application process.
Requirements for Designation
Applicants for Payment Systems and Payment Systems Business are required to meet the requirements as stipulated in the documentation that can be downloaded below:
a) Requirements for Payment Systems Business01ARequirementsforSettingupaPaymentSystemBusiness.pdf
b) Application Form for a Payment System Business02AApplicationFormforaPaymentSystemBusiness.pdf
c) Application Form for a Payment System Participant02BApplicationFormforaParticipantinaPaymentSystem.pdf
d) Application Form for a Payment System02CApplicationFormforaPaymentSystem.pdf
e) Director's Questionnaire03DirectorsQuestionaire.pdf
f) Vital Statistics04VitalStatistics.pdf