This exposure draft outlines the new requirements for the management of technology risks by payment services regulatees (PSRs). It aims to consolidate the technology requirements into a single policy document, mainly for the approved issuers of electronic money (EMI), registered merchant acquirers (MA), and licensed money services businesses (MSB).

The exposure draft has the following key objectives:

1. Augment PSRs’ resilience by elevating cyber security baseline across the industry and enhancing the state of preparedness to withstand service disruptions;
2. Improve protection against cybercrime while preserving the integrity and availability of payment services; and
3. Facilitate the secure adoption of technology advancement and innovation.

Bank Negara Malaysia (BNM) invites written feedback on the proposals in this exposure draft, including suggestions on areas to be clarified or elaborated further and alternative proposals that BNM should consider. The written feedback should be included in the attached Excel feedback template and supported with clear rationale, accompanying evidence or illustrations as appropriate to facilitate the BNM’s assessment.

The Excel feedback template should be submitted to BNM by email to [email protected], [email protected] and [email protected] by 30 April 2025.

Issuance Date
17 December 2024

Effective Date
N/A

Issuing Department
Payment Services Oversight Department

Documents

• Exposure Draft on Technology Requirement for Payment Services Regulatees
• Feedback Template