National Payment Systems Act: Central Bank Gives Operators Of Payment Platforms Licenses

BY BANKERS REPORTER The Bank of Uganda (BoU) has issued three licenses to operators of payment systems under the National Payments Systems Act 2020. These include; Airtel Mobile Commerce Uganda Limited and MTN mobile Money Uganda Limited. The National Payments Systems Act 2020, effectively became law after it was assented to by the President of Uganda in July 2020. Pursuant to section 16 of the National Payment Systems Act 2020 and Regulations 5 of the National Payment Systems (sandbox) Regulations, the Bank of Uganda issued the a license to M/s…

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