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Fintech & payments regulation in Mauritius (2026)

Fintech and digital payments in Mauritius: licensing regime.

Mauritius operates a dedicated, in-force licensing regime for digital payments and e-money. The Bank of Mauritius licenses payment service providers (including payment initiation, account information, money remittance) and electronic money issuers under the National Payment Systems Act 2018, with the implementing Regulations operational since 1 June 2021. Instant payments run over the BoM's MauCAS national switch, while open banking and BNPL remain at an early/exploratory stage with no dedicated rules yet.

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Legal framework

National Payment Systems Act 2018 and the National Payment Systems (Authorisation and Licensing) Regulations 2021, administered by the Bank of Mauritius (BoM)

Key points: digital payments & fintech in Mauritius

  1. Primary law in force

    The National Payment Systems Act 2018 governs authorisation, oversight and supervision of payment, clearing and settlement systems and payment service providers, with the National Payment Systems (Authorisation and Licensing) Regulations 2021 operational from 1 June 2021.

    bom.mu

  2. Regulator

    The Bank of Mauritius is the licensing and supervisory authority for payment systems, payment service providers and e-money issuers; the Financial Services Commission supervises non-bank financial services and fintech innovation more broadly.

    bom.mu fscmauritius.org

  3. Licence categories and capital

    Distinct licences exist for payment service providers, electronic money issuers (EMIs), payment initiation services (PIS) and account information services (AIS), with minimum capital tiers (e.g. ~MUR 5m for most services, MUR 3m for remittance/PIS and small e-money issuers, MUR 1m for AIS).

    bom.mu bom.mu

  4. Customer fund protection

    E-money issuers must segregate customer funds in trust accounts with Mauritian banks, perform regular reconciliation and provide annual auditor certification; BoM fit-and-proper, AML/CFT, reporting and cyber/technology-risk obligations apply.

    bom.mu

  5. Instant-payment rail

    The Mauritius Central Automated Switch (MauCAS), operated by BoM and launched in 2019, provides a 24/7 Instant Payment System and an EMVCo-based interoperable national QR code linking banks and licensed payment providers.

    bom.mu bom.mu

  6. Open banking and BNPL still nascent

    There is no dedicated open-banking framework or specific BNPL regime yet; open banking is being explored via the BoM Innovation Hub (Innov8, launched 2024) and a 2024 Regulatory Sandbox Authorisation guideline, while BNPL remains in early adoption.

    fscmauritius.org practiceguides.chambers.com

Sources

  1. bom.mu/sites/default/files/national-payment-systems-authorisation-and-licens
  2. bom.mu/paymentsystems1/licensing/Application_Payment_ServiceProvider.pdf
  3. bom.mu/payment-systems/national-payment-switch
  4. bom.mu/maucasqrcode/bank-mauritius-launches-maucas-qr-code
  5. fscmauritius.org/en/fintech-and-innovation
  6. practiceguides.chambers.com/practice-guides/banking-regulation-2026/mauritius
  7. bis.org/cpmi/paysys/mauritius.pdf

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Orientation, not legal advice: verify against the primary sources linked above. Last verified 25 May 2026. Methodology & how to cite · State of Technology Regulation 2026