A Payment Intermediary Services (PIS) Licence is issued by the Financial Services Commission (FSC) of Mauritius. It authorises a company to provide payment intermediation—such as acquiring and executing payment transactions and money remittance—for clients outside Mauritius (cross-border only). In practice, PIS licensees often operate payment gateways and merchant-acquiring solutions for international e-commerce.
Important distinction: domestic payment service providers in Mauritius are licensed by the Bank of Mauritius under the National Payment Systems Act 2018 (NPSA). The PIS licence is an FSC licence and is scoped to offshore activity.
Renesis Financial Services Ltd delivers end-to-end support: feasibility and licence scoping, entity setup and GBL structuring, FSCOne application with AML/CFT and governance policies, technology and security readiness including PCI DSS, banking setup and acquirer partnerships, and ongoing compliance - returns, monitoring, risk assessments, updates, and board reporting - so you launch and scale confidently.
(routing to multiple acquirers, onboarding international merchants).
Note: If you intend to operate within Mauritius (eg, local e-money issuance, domestic PSP or payment system operation), you fall under the Bank of Mauritius licensing under the NPSA—different capital thresholds and rules apply.
No. Domestic payment services and e-money issuance are regulated by the Bank of Mauritius under the NPSA 2018. PIS covers cross-border activity overseen by the FSC.
Current FSC guidance sets the minimum stated unimpaired capital at MUR 2,000,000 (or equivalent). Always check for the latest circulars/updates.
In practice, yes—PIS applicants are generally structured as GBCs and must demonstrate economic substance in Mauritius (eg, two Mauritius-resident directors, principal bank account in Mauritius, books/audit in Mauritius).
Timelines depend on completeness and due diligence. Mauritius has introduced a statutory framework to speed up determinations for complete applications, but actual timing varies case-by-case.
PIS can support gateway/acquiring and remittance models for offshore clients. Card issuance, wallets or domestic accounts generally fall under the BoM/PSP regime—requirements and capital are different.
On the FSC’s Register of Licensees.
Renesis Financial Services Ltd supports you end-to-end so you can launch and scale with confidence:
Feasibility & licence scoping – Map your business model to the correct regime (FSC PIS vs BoM PSP) and jurisdictions involved.
Entity setup & GBL structuring – Incorporation, Global Business Licence, and economic-substance blueprint (directors, banking, audit, office).
Licence application on FSCOne – Business plan, policies and procedures (AML/CFT, governance, risk, outsourcing, tech, incident response), and liaison with the FSC until approval.
Technology & security readiness – PCI DSS readiness roadmap (where card data is processed), vendor due diligence, and data-protection controls aligned to licence conditions.
Banking & operations – Principal bank account in Mauritius, acquirer partnerships, and settlement workflows consistent with cross-border scope.
Ongoing compliance – Periodic returns, transaction monitoring, risk assessments, policies refresh, and board reporting.
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