PAYMENT INTERMEDIARY SERVICES (PIS)

Facilitating Digital Payments. Connecting International Commerce.

A Regulated Framework for Payment Technology and Financial Innovation

Mauritius offers an established regulatory framework for businesses seeking to provide payment intermediary services, supporting the development of financial technology, electronic commerce and international payment solutions.

A Payment Intermediary Services (PIS) licence is issued by the Financial Services Commission (FSC) under the Financial Services Act 2007 and the applicable licensing rules.

The licence provides a regulatory framework for approved payment intermediary activities, including payment gateway services and the facilitation of electronic payment transactions, subject to the scope and conditions of the authorisation granted.

For businesses seeking an internationally oriented operating structure, Mauritius offers access to an established financial services ecosystem, corporate administration expertise and a legal framework supporting regulated financial activities.

What Is a Payment Intermediary Services Licence?

A Payment Intermediary Services licence permits its holder to undertake specified payment intermediary activities approved by the FSC.

Depending on its authorised business model, a PIS operator may facilitate electronic payment transactions between merchants, customers, financial institutions and payment service providers.

Potential applications include:

  • Electronic payment gateways for online merchants.
  • Payment processing and transaction facilitation.
  • Merchant payment solutions.
  • Integration with approved payment service providers and financial institutions.
  • Cross-border payment facilitation within the scope of the licence.
  • Payment technology platforms serving international commercial activities.

The precise activities permitted depend on the FSC licence, the approved business plan and any additional regulatory requirements.

Key Features and Advantages

1. Regulated Financial Services Framework

Payment Intermediary Services fall within the regulatory jurisdiction of the FSC, providing an established licensing and supervisory framework.

2. Opportunities for Fintech Businesses

The PIS framework can accommodate eligible technology-driven payment businesses seeking to establish regulated operations in Mauritius.

3. International Business Connectivity

Mauritius offers an international financial services environment supported by professional service providers, financial institutions and corporate administration infrastructure.

4. Flexible Commercial Applications

Depending on the approved business model, payment intermediary activities may support e-commerce platforms, merchant services and international payment arrangements.

5. Potential Tax Efficiency

Income derived by an eligible company holding a PIS licence may qualify for an 80% partial exemption under Mauritius income tax legislation, subject to the applicable conditions, including economic substance requirements.

The availability of any exemption must be assessed according to the company's circumstances and current law.

6. Corporate Governance and Operational Oversight

The regulatory framework requires applicants to demonstrate appropriate governance, management capabilities, financial resources, internal controls and operational arrangements.

Regulatory and Licensing Requirements

A PIS licence application is assessed by the FSC under the applicable financial services legislation and licensing criteria.

The licensing process generally involves consideration of:

  • The proposed business model and permitted activities.
  • The ownership structure and beneficial ownership information.
  • The fitness and propriety of shareholders, directors and key officers.
  • The experience and qualifications of the management team.
  • Financial projections and adequate operational resources.
  • Internal controls and risk management arrangements.
  • Anti-money laundering and counter-terrorist financing measures.
  • Information technology infrastructure and cybersecurity safeguards.
  • Business continuity and disaster recovery arrangements.
  • Compliance and reporting procedures.

Applicants must demonstrate that the proposed operations are appropriate for the licence sought and satisfy the FSC's applicable requirements.

Corporate Structure and International Operations

A PIS business may be established through an appropriate Mauritius corporate structure, depending on its ownership, activities and intended markets.

Where a Global Business Licence is required, the applicant must also satisfy the applicable requirements governing global business activities, management and control, and economic substance.

The holding of a PIS licence does not automatically authorise banking, deposit-taking, unrestricted money remittance, electronic money issuance or other separately regulated activities.

Additional approvals may be required depending on the nature of the proposed services and the jurisdictions in which the business intends to operate.

Taxation of Payment Intermediary Services

Mauritius companies are generally subject to corporate income tax under the Income Tax Act.

Under the applicable partial exemption regime, 80% of qualifying income derived by a company holding a PIS licence may be exempt from income tax, provided the relevant statutory conditions are satisfied.

These conditions include carrying out core income-generating activities in Mauritius, maintaining adequate suitably qualified personnel and incurring expenditure proportionate to the level of activities.

Tax treatment, eligibility for treaty benefits and foreign tax obligations must be assessed on a case-by-case basis.

How LGBS Can Assist

London Global Business Solutions Ltd provides corporate, fiduciary and administrative support to clients seeking to establish and maintain regulated financial services structures in Mauritius.

Our assistance may include:

Initial Structuring and Assessment

Reviewing the proposed business activities, ownership arrangements and intended operating structure.

Company Establishment

Coordinating incorporation, corporate documentation and appropriate Global Business Licence applications, where applicable.

Regulatory Application Coordination

Assisting with the preparation and submission of the PIS licence application, business plan and supporting documentation, in coordination with relevant professional and technical specialists.

Governance and Administration

Providing company secretarial, corporate administration and governance support.

Ongoing Compliance Coordination

Supporting applicable statutory filings, regulatory reporting arrangements and continuing administrative obligations.

Establish Your Payment Services Business in Mauritius

Whether you are developing a payment gateway, establishing a fintech platform or expanding an existing payment services business internationally, selecting an appropriate regulatory and corporate structure is an important first step.

LGBS can assist you in evaluating the available Mauritius structures and coordinating the establishment and administration process.

  • Contact LGBS to discuss your proposed Payment Intermediary Services business.
  • London Global Business Solutions Ltd
  • Email: info@lgbsmc.com
  • Website: www.lgbsmc.com

Important Notice: Payment Intermediary Services are regulated activities. Any proposed business is subject to applicable FSC licensing requirements and other relevant laws. Regulatory approval, banking relationships, payment network access and tax benefits are not guaranteed.

Get In Touch

Submit
Thank you! Your message has been sent.
Unable to send your message. Please fix errors then try again.
Our Address

51 Unity Square, 7th Floor

Rue du Savior

Ebene Cybercity 72201

Mauritius

Telephone

+230 489 0808

Email

info@lgbsmc.com