E-Wallet License
In Mauritius

Payment Intermediary Services License

In Mauritius, a PSP can connect to several acquiring banks; an acquiring bank being a financial institution that accepts credit card transaction, manages card settlements, mitigates risk and provides payment solution providers.

4-6 Months

Licensing Time


Taxation ( On Audit )

License Type

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Key Information You Need To Know



Following documents are required to apply for license application.

For Each Director , Shareholder & Ultimate Beneficial Owner

  • Notarised/Certified Passport Copy
  • Notarised/Certified Proof of Address
  • Notarised/Certified Bank Statement
  • Bank Reference Letter
  • Curriculum Vitae

Please provide below, if the company has corporate shareholder :

  • Certificate of incorporation
  • Memorandum and articles of associations.
  • Articles of Incorporation
  • Register of Directors & Shares
  • Certificate of good standing (if the company is more than 12 months old)

Other Documents Required :

  • Detailed business plan, including a description of the activities, targeted customers, products and services to be offered, target countries/geographical area of operations, risks associated with the model being proposed and measures to mitigate those risks
  • Process flow of funds and role of the company in the process with respect to the flow of funds
  • A copy of the contract to be signed between the company and the customers
  • Details on the mechanisms put in place to ensure the security of transactions
  • Proof of Source of Wealth

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Company Structure :

  • 2 Directors With Experience in Payments Services
  • 2 Local Mauritius Resident Directors – provided by us in the package.

Taxation :

  • Standard corporate tax rate of 15% is reduced to a net effective tax rate of 3%
  • No exchange control restrictions
  • Free repatriation of profits, dividends and capital
  • No exchange control restrictions

Accounting & Auditing:

  • Audit should be done from Mauritius
  • The Company will be required to fil audited financial statements and tax return within 3 months from its balance sheet date.
  • Accounting records should be kept at the local offices of the administrator.

Registered Agent & Office – Required

Company Secretary- Required


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The payment intermediary services (“PIS”) licence is of interest for those who wish to operate as a payment service provider (PSP) or otherwise looking to provide payment services to those persons making payments (customers) or parties requiring payment services (merchants), or both.

A PIS provider normally acts as an intermediary between customers and merchants by accepting electronic payments through a variety of payment methods including credit cards, bank-based payments such as direct debits, bank transfers and real-time transfers based on online banking.

PSPs are becoming more of a norm, addressing the ever-increasing need of online shoppers and merchants doing business via the internet.

The PIS activity is regulated under the FSA and can only be applied by a global business corporation for conducting the activity exclusively outside of Mauritius.

Capital Requirement

The minimum capital requirement for a PIS is currently set at MUR 2,000,000 ( 50,000 USD ) or equivalent currency, given the nature, complexity and risks associated with PIS activities.

The shareholder/s of the entity will need to capitalize the Company with this amount following licensing of the entity and prior to the start of operations. As such, the shareholder/s will be required to provide documentary evidence(s) of the origin and legitimacy of the source of funds that will be used to capitalize the entity.

Where any additional amount will be invested in the company in addition to the minimum stated unimpaired capital, whether by the shareholder or other persons, details of same along with the source of funds shall be provided to the FSC during the application.

Permitted Activities under payment intermediary services license :

  • offer wallets/accounts to individuals and corporate clients
  • offer Merchant services like trustee payment processing, credit card processing etc to companies, online shop owners or any kind of Merchant that is operating according to its local and the Mauritius laws
  • enable customers funding of their wallets, process incoming and outgoing payments directly via correspondence banks or through other Payment Services Providers e.g. in Europe to use the SEPA infrastructure of third parties
  • charge fees for accounts, openings, incoming and outgoing transfers, credit card processing, other payment methods
  • issue account certificates to your account holders
  • offer online banking and transfer options for individuals and corporate clients
  • Issue debit cards by co-branding or white label

If you have any questions, please feel free to contact us or write to



In order to acquire a license, following steps will be carried out :

  • Reviewing & Due Diligence of KYC of Directors & UBO
  • Name Check & Reservation at ROC
  • Preparing Application Forms, Drafting and Compiling Documentation & Reviewing of Application
  • Filing Application with the Mauritius Financial Services Commission (FSC)
  • Follow up and liaising with FSC

If you have any questions, please feel free to contact us or write to



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