International Financial Services Centres Authority vide circular dated February 6, 2024 has issued the Format and manner of seeking authorization as Payment Service Provider(PSP). An applicant shall submit the application form and additional information/submissions to the Authority in physical form.
An applicant shall fill up the application form and submit the information sought in English. Incomplete applications shall not be considered. In case the applicant has already answered a question elsewhere in the schedules, specific reference to that cell/section may be provided to avoid duplication.
In case the applicant is of the opinion that an information sought in the schedules does not apply to him, the applicant shall answer to that effect stating the reasons justifying the non-applicability. Applicants are advised to refer to the IFSCA website for latest amendments in the IFSCA (Payment Services) Regulations/ Frameworks/ Circulars etc. that may be pertinent to the application.
All the documents submitted along with the application must be in English. In case of documents that are not in English, a certified English translation of the same shall be enclosed. The English translation must be certified “true copy” by an external legal counsel. All documents submitted with the application shall be self-certified. However, in case of foreign nationals or companies the relevant documents (e.g., Certificate of Incorporation, Certificate / Declaration of the person being authorised to act on behalf of the entity etc.) are to be apostilled/notarised.
Any queries relating to an application, submitted or proposed to be submitted, may be directed to the Authority by email to payment- services@ifsca.gov.in.
