Licenses library · 787
Certificate of Payment Services Business
支付业务证明
ໃບຢັ້ງຢືນດຳເນີນທຸລະກິດການໃຫ້ບໍລິການຊຳລະ
The payment service that requires a certificate is a payment service that provides services within a limited scope and limited impact, which has the following characteristics: 1. Providing e-money services to support their own business, which has an advance amount as determined by the Department of Payment Systems in each period, as payment for goods, services, or other fees to the goods or service providers as follows: 1.1. To pay for any kind of goods or services in the same place or area as the payment service provider or as a business under the same franchise model; 1.2. To pay for goods or services to a store where the payment service provider holds more than fifty percent (50%) of the registered capital of the store. 2. Provision of payment services as defined in Article 5 of this Agreement through the introduction of new innovations. Apply at Payment Systems Department (021 253595;).
Who needs this
The payment service that requires a certificate is a payment service that provides services within a limited scope and limited impact, which has the following characteristics: 1. Providing e-money services to support their own business, which has an advance amount as determined by the Department of Payment Systems in each period, as payment for goods, services, or other fees to the goods or service providers as follows: 1.1. To pay for any kind of goods or services in the same place or area as the payment service provider or as a business under the same franchise model; 1.2. To pay for goods or services to a store where the payment service provider holds more than fifty percent (50%) of the registered capital of the store. 2. Provision of payment services as defined in Article 5 of this Agreement through the introduction of new innovations.
Requirements
- To be a registered enterprise in the Lao PDR
- There are shareholders who hold Lao nationality holding at least ten percent (10%) of the total number of shares
- There is at least one executive who is a Lao citizen and has a domicile in the Lao PDR
- Have a business plan
- Have a connection system of a sub-payment system (if any)
Documents — first application
| Document | Note |
|---|---|
| Application Form | by the PSD (original) |
| Documents about Company Profile (For Legal Entities) | - Address Certificate of the Director (Original) - Resume of the Director (Original) - Certificate of Source of Funding (Original) - Copy of enterprise registration certificate - Copy of tax registration certificate up to present - Copy the company's regulations in the required template - Copy of the Director's educational certificate and training certificate - The court clearance of the company and the Director (original, not exceeding three months) - Copy of shareholders' account registrations, shareholders list, resumes of shareholders, and the Top 10 shareholding ratio - The organizational structure of the company and the number of employees The structure of the group of companies (parent company, subsidiary, or joint venture) with the responsibilities and relationships of each partner related to the licensee - Business report and financial statement of 1 year prior to the application of a license, except for the newly established company. |
| Documents for Details of the Organizational Structure and Management | - Organizational structure - the Management by showing the roles of the units involved in the provision of payment services, management, and monitoring of products in detail, showing the units and personnel that perform the duties, including identifying the responsibilities that control the information technology system. |
| Documents for Details on payment services (by type of payment services) | - Name and type of payment service - Terms of use - Model of service - Scope of services - Group of service users - Amount - Location - Fees |
| Documents for Regulations, Processes, and Procedures for Providing Payment Services (in written form) | - Operational system diagram (service scope) - Manuals for information technology operators used to provide services - Guidelines for information technology operators used to maintain system security - Guideline for Users, leaflet, or Advertising Brochure for Customers - Regulation for the management of each product (in written form) |
| Documents for a person who is involved in or related to the payment service provision | - Number and list of payment service participants (Agent, Partner, or Provider - Merchant) - Copy of the contract or agreement between the payment service provider and the payment service partner, stating the rights and responsibilities between the service provider and the payment service partner (Agent, Partner, or Provider - Merchant) - Copy of service agreement from the external service provider (Outsourcing) such as a contract with the system to the partner (External Vendor), joint venture agreement with another company. - Service Registration Application (For Individuals) - Service Registration Application (for a legal entity or recipient (Merchant) |
| Documents on information technology systems | - Operational system diagram (information technology system) - Regulations and standards on the security of information technology systems in the provision of services (at least there must be standards for the security of information technology systems of the Bank of the Lao PDR). - Certificate or Report of Penetration Test and Security Test - Certification of the connection of the sub-payment system - Guidelines for integration with other relevant operating systems |
| Business plans for 03 years | - Detailed business plan for 3 years - Investment in the system - Sources of funding periodically - Revenue - Expenditure - Transaction volume - Additional service from the original features - Economic analysis (Feasibility Study) that highlights the analysis of competitors, marketing, internal and external environment, and the assumptions used in the preparation of such plans and evaluation costs. |
| Action plan to support the business operation | - Details of the action plan to support the business operation by showing the details of the preparation in each period (Timeline), if any. |
| Documents on risk management (only for products that provide payment services) | - Liquidity Risk - Strategic Risk - Operational Risk - Information Technology Risk - Legal Risk - Reputation Risk |
| Business Impact Analysis (BIA) and Business Continuity Management (BCM) | - Business Continuity Management (BCM) Policy - Business Continuity Plan (BCP) - Define guidelines for monitoring, evaluation, and testing of business continuity support plans. - Internal control system, which controls the inspection of abnormal items by specifying the responsibilities of the relevant departments in managing, controlling, and inspecting operations. |
| Documents on using services from external service providers to operate on behalf of the technology system to provide paid services (if any) | - Duration, the scope of service, and responsibilities of the parties involved in the payment of services. - Principles for selecting, monitoring, and assessing the risk of using the service - Service agreement from an external service provider - Plan to support the continuity of business operations on the use of services from external service providers |
| Anti-Money Laundering Policy and Measures to Prevent Money Laundering and Terrorism | - Anti-money laundering policies and measures and funding for terrorism as determined by the Anti-Money Laundering Information Office periodically. |
| Documents for consumer protection and dispute resolution | - Payment user regulations - Regulations for storing personal information of service users and payment information - Regulation of dispute resolution |
| Letter of appointment of the person in charge of coordinator | at least 02 persons |
Legal framework
- Law on Commercial Bank (Amended)
- Decision on Payment Services
- Instruction on the Improvement, Change in Sub-system, Payment Service Providers, the Development and Approval of Payment Service Products
- Notice on the Deterred Balance in Providing E-Money Services
How to submit
- Address of authority
- Payment Systems Department, Bank of the Lao PDR
- Processing time
- 30 The Department of Payment Systems shall consider the application for a payment service provider within 30 days from the receipt of an accurate and complete application.
Validity and renewal
- Has an expiry date
- YES
- Validity
- 36 months
- Renewal process
- The certificate can be renewed and the payment service provider who intends to continue the payment service must submit an application to the Department of Payment Systems at least 45 days for consideration before the expiry date.
Additional comment
The payment service that requires a certificate is a payment service that provides services within a limited scope and limited impact.