Section 14, Financial Services Act · FSC Mauritius
Mauritius Payment Intermediary Services (PIS) Licence
The PIS licence is an FSC licence for payment-intermediation models operating exclusively outside Mauritius. It is relevant to international payment businesses where the Mauritius entity sits within the payment flow and provides payment-intermediary services to overseas clients or merchants.
Licence at a glance
Payment flow
Merchant → customer → processing partner.
What the application needs to show
Regulatory scoping comes before the application.
Payment models often touch several regulatory regimes. Ylexium first maps the parties, jurisdictions and money flows, then determines whether the Mauritius PIS framework is appropriate and what must sit with banks, acquirers, processors or other regulated providers.
- Precisely where the Mauritius entity sits in the payment chain and which party it contracts with.
- Types of merchants / customers, target countries, payment methods and expected transaction volumes.
- Banking, acquiring, processing, settlement and technology partners.
- Client / merchant fund flows, safeguarding and reconciliation arrangements.
- Merchant onboarding, AML/CFT, sanctions, fraud and transaction-monitoring controls.
- IT / cybersecurity controls, outsourcing, complaints, risk management and business continuity.
- Governance, operations staffing and financial sustainability.
How Ylexium advises
- Payment-flow and regulatory-perimeter mapping.
- Business plan and 3-year financial model.
- Merchant / customer onboarding and AML/CFT framework.
- Safeguarding, reconciliation, outsourcing and risk-control design.
- Bank / acquirer / processor service-provider coordination.
- FSC application and query responses.
Review My Payment Model
Share where your entity sits in the payment chain and Ylexium will assess whether the PIS framework fits.