The Payment Intermediary System (PIS) is a specialized regulatory licence issued by the Financial Services Commission (FSC) in Mauritius. It authorizes a company to operate as a digital payment platform, online transaction facilitator, or gateway provider—serving as a trusted intermediary between payers and recipients across various e-commerce and digital platforms.
The licence is ideal for fintech firms, e-commerce platforms, marketplaces, and digital service providers seeking a secure and compliant jurisdiction to manage cross-border payments and online financial flows.
Scope of Activities
A licensed Payment Intermediary System may:
- Process electronic payments on behalf of merchants and clients
- Operate as a payment aggregator or payment gateway
- Collect, hold, and settle funds on behalf of third parties
- Support multi-currency online transactions and digital wallets
- Integrate with card schemes, mobile money, and API-based systems
Key Licensing Requirements
To obtain a PIS licence in Mauritius, the applicant must:
- Be incorporated as a Global Business Company (GBC)
- Maintain a minimum stated capital (typically MUR 1 million, though may vary based on business model and risk)
- Have a secure and scalable IT infrastructure, including AML/KYC integration
- Submit a comprehensive business plan covering the platform’s architecture, user onboarding, fund flow mechanisms, and risk mitigation
- Appoint qualified local directors and a compliance officer
- Ensure cybersecurity and data protection protocols are in place
- Provide ongoing reporting to the FSC on operations, compliance, and audit readiness
Regulatory Benefits
- Operate from a well-regulated, fintech-friendly jurisdiction
- Low effective tax rate (as low as 3%) under the GBC regime
- Access to an ecosystem of international payment networks, banks, and processors
- No foreign exchange controls on repatriation of capital or profit
- Mauritius is a member of AFI, FATF, and ESAAMLG, supporting strong financial integrity standards
Use Cases
- Payment gateway solutions for online retail and marketplaces
- Cross-border e-commerce settlement engines
- Digital wallet platforms or multi-currency wallet systems
- Subscription billing platforms and merchant aggregators
- Online education, SaaS, or digital services monetization platforms
Why Mauritius?
- Strong reputation for compliance, neutrality, and financial stability
- No exchange control, enabling seamless foreign transactions
- Robust data protection and cybersecurity readiness
- Strategic time zone and global business connectivity