National Payment Systems (Consumer Protection) Regulations, 2022 Statutory Instrument 103 of 2022. Download PDF (658.4 KB) Report Report a problem. National Payment Systems (Consumer Protection) Regulations, 2022 ... ULII is a project of the Law Reporting Committee of the Judiciary of Uganda. ULII aims to bridge the existing gap in public ...
Uganda, National Payment Systems Act 2020 - Free download as PDF File (.pdf), Text File (.txt) or read online for free. An Act to regulate payment systems; to provide for the safety and efficiency of payment systems; to provide for the functions of the central bank in relation to payment systems; to prescribe the rules governing the oversight and protection of payment systems; to provide for ...
Regulating Payment Systems In Uganda There was no law that regulated payment systems owned and operated by persons who are not fi nancial institutions i.e. payment through/over mobile money and other platforms of e-commerce such as, Payway, Quicket among others. The National Payment Systems Act of 2019 serves to stand in this gap.
The authority is derived from the National Payment Systems Policy Framework approved by Cabinet on the 22nd December 2017 and the National Payment systems Act 2020. In addition as a member of the East African Community (EAC) and the Common Market of Eastern and Southern Africa (COMESA), Uganda is a participant in the East African Payment
National Payment System (NPS) Policy Framework; Private Sector Initiatives ; Schedules to the UNISS Rules and Procedures; Sandbox Framework - June 2021; Oversight Frame Work 2020 Revised June 2021 -Final; Payment Systems in Uganda. The payment systems in Uganda are classified into three broad areas: A) Systems operated by the Bank of Uganda. i ...
The National Payment Systems Act, 2020 (“NPS Act”) was passed by parliament on 29 May 2020 and gazetted on 4 September 2020. The NPS Act was prompted by an increase in the use of digital and ...
National Payment Systems Act, 2020 (Act 15 of 2020) Uganda Uganda National Payment Systems Act, 2020 Act 15 of 2020 Published in Uganda Gazette 51 on 4 September 2020 Assented to on 29 July 2020 Commenced on 4 September 2020 [This is the version of this document from 4 September 2020.]
Introduction Prior to 2020, the law that was in place to regulate payment solutions like mobile money in Uganda was the Mobile Money Guidelines, 2013. According to these guidelines, Bank of Uganda was mandated to issue directives regarding mobile money operations while Uganda Communications Commission was responsible for licensing and supervision of mobile network operators. […]
With the National Payments System Act 2020 in place in Uganda, there is no turning back. The Act classifies payment systems into systems operated by the Central Bank, payment services provided by ...
Uganda National E-Payments Strategy 2021-2026. Payment Systems in Uganda; Real Time Gross Settlement System (RTGS ) ... A national payment system is one of the principal components of a country’s monetary and financial system and is, therefore, crucial to a country’s economic development, since almost all economic transactions involve some ...
The National Payment Systems Act, 2020 establishes a comprehensive legal framework for regulating payment systems in Uganda. It designates the Bank of Uganda as the regulator and provides oversight powers over payment service providers, systems, and instruments. The Act categorizes different types of payment systems and requires licenses for operating them. It aims to promote safety ...
The National Financial Inclusion Strategy (NFIS II) aims to have 75% of Ugandans accessing formal financial services by 2028, but this goal cannot be achieved through payments alone. To drive real impact, DFS must extend into areas such as credit, savings, investment, and insurance—areas critical for economic empowerment and long-term ...
15 Sep 2020 BY Donald Nyakairu AND Tracy Kakongi Key features of Uganda’s National Payment Systems Act. The National Payment Systems Act, 2020 (“NPS Act”) was passed by parliament on 29 May 2020 and gazetted on 4 September 2020. The NPS Act was prompted by an increase in the use of digital and electronic financial services by private entities in Uganda offering various electronic payment ...
National Payment Systems Policy Framework ; Mobile Money Guidelines 2013; UNIS Rules and Procedures ; Clearing House Rules ; Related Pages . CBDC Consultations; Uganda National E-Payments Strategy 2021-2026. ... Passage of this Law is critical to the future of payment systems in Uganda. The NPS Act will grant Bank of Uganda the legal mandate to ...
Kasaija said this target is critical for building a resilient financial sector and also driving Uganda's broader economic growth. According to the latest Finscope Survey 2023, overall financial inclusion has reached 81% with more Ugandans having access to financial accounts, use of digital payment systems and credit to support their livelihoods ...
