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PAYMENT SERVICES ACT 2019 (ACT 2 OF 2019)REPAYMENT SERVICES REGULATIONS1APPLICATION FOR A PAYMENT SERVICE PROVIDER License UNDER SECTION 6(1) OF THE PAYMENT SERVICES ACT 2019 READ WITH REGULATION
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The form-application-for-a-payment-service-provider-licence is a document that entities must submit to obtain a license to operate as a payment service provider, which allows them to offer payment services to consumers and businesses.
Entities intending to provide payment services, including businesses that facilitate electronic payments, transfers, and related financial transactions, are required to file this form.
To fill out the form, applicants must provide detailed information about their business structure, financial stability, operational plans, and compliance measures, along with any other relevant documentation.
The purpose of the form is to ensure that payment service providers meet regulatory standards, can provide secure services, and protect consumer interests, thereby fostering trust in electronic payment systems.
The form requires reporting on business ownership, financial statements, compliance policies, operational models, risk management strategies, and any potential security threats.
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