This policy document sets out Bank Negara Malaysia's (BNM) requirements and guidance for payment system operators (PSO). It applies to operators approved under section 11 of the Financial Services Act 2013 (FSA) or section 11 of the Islamic Financial Services Act 2013 (IFSA). It also applies to operators of payment systems designated under section 30 of the FSA or section 39 of the IFSA. 

The policy document outlines the regulatory requirements that relevant approved payment system operators must fulfil in order to:

• ensure the safety, efficiency and reliability of payment systems;
• preserve public confidence in the payment systems and the use of payment instruments; and
• ensure payment systems are aligned with relevant international standards, such as the Principles for Financial Market Infrastructures jointly issued by the Committee on Payments and Market Infrastructures and the International Organization of Securities Commissions.

BNM has also issued a feedback statement to address the feedback received from the industry during the consultation period for the PSO policy document.

See more:

• Policy Document
• Feedback Statement