Fintech & payments regulation in Namibia (2026)
Fintech and digital payments in Namibia: licensing regime.
Namibia operates a dedicated, in-force licensing regime for digital payments and e-money under the Payment System Management Act 14 of 2023, with the Bank of Namibia as the licensing and oversight authority for payment service providers, payment instruments and payment system operators. The PSD-3 determination (effective 27 March 2025) establishes tiered e-money issuer categories (bank, non-bank and micro e-money issuers) with a provisional-then-full licensing process. A national Instant Payment Programme is under build and scheduled to go live around mid-2026; there is no dedicated open-banking or buy-now-pay-later framework yet.
Legal framework
Payment System Management Act 14 of 2023, administered by the Bank of Namibia (BoN); supplemented by BoN determinations including PSD-3 on the issuing of electronic money.
Key points: digital payments & fintech in Namibia
Primary law in force
The Payment System Management Act 14 of 2023 provides for the licensing of payment service providers and payment instruments and authorisation of payment system operators, replacing/updating the 2003 regime, with the Bank of Namibia as regulator, supervisor and overseer.
BoN as licensing authority for PSPs
The Bank of Namibia formally took on the role of licensing payment service providers, covering e-money issuers, payment instrument issuers, payment intermediation service providers, payment facilitators and processors; categories were clarified in a November 2024 Guidance Note.
E-money determination (PSD-3)
PSD-3, effective 27 March 2025, requires all e-money issuers to be licensed/authorised and creates tiered categories, banks, non-bank issuers and micro e-money issuers (with low transaction caps for small-scale/rural operators), to advance financial inclusion.
Two-step authorisation process
Licensing involves a provisional authorisation (valid six months) during which pre-authorisation conditions must be met, after which a full operating licence may be granted; BoN issued provisional authorisations to new payment and virtual-asset entities in early 2025.
Instant-payment rail (under build)
BoN launched the Instant Payment Programme (IPP) in 2024, built with NPCI International and managed by PwC, designed to work on any device including feature phones, with industry integration underway and go-live targeted around mid-2026.
Open banking & BNPL gaps
Namibia has no dedicated open-banking mandate or specific buy-now-pay-later regulation; such activities fall under general PSMA/BoN payments oversight and NAMFISA's supervision of non-bank financial institutions rather than a bespoke framework.
Sources
- namiblii.org/akn/na/act/2023/14/eng@2023-07-28
- lac.org.na/laws/annoSTAT/Payment%20System%20Management%20Act%2014%20of%202023.pd
- bon.com.na/Bank/Payments-and-Settlements/Legal-Framework/Payment-System-Manageme
- bon.com.na/Regulations/Payment-System-Management-Act-2003/Determinations.aspx
- bon.com.na/Informations/Media/Media-Releases/2023-Media-Releases/Articles/BoN-Ta
- bon.com.na/Informations/Media/Media-Releases/2024-Media-Releases/Articles/13-01-
- bon.com.na/Informations/Media/Media-Releases/2024-Media-Releases/Articles/BoN-La
- techcabal.com/2026/03/31/bank-of-namibia-sets-june-2026-rollout-for-instant-payment
- bis.org/cpmi/paysys/namibia.pdf
- namfisa.com.na/
- gsma.com/solutions-and-impact/connectivity-for-good/mobile-for-development/pro
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Next topicOrientation, not legal advice: verify against the primary sources linked above. Last verified 25 May 2026. Methodology & how to cite · State of Technology Regulation 2026