The National Payment Systems Act, 2015 | The National Payment Systems Act, 2015 — Tanzania law | Esheria

The National Payment Systems Act, 2015

This section gives the Act’s short title and says it starts on a date appointed by the Minister and published in the Government Gazette.

Jurisdiction
Tanzania
Instrument
Act or statute
Citation
The National Payment Systems Act, 2015
Version
Undated source snapshot
Language
mul
Official source
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administrative penalties agent regulation application process application review applications authorization bank approval bank authorization bank notification capital requirements cheque presentment cheques collateral complaints and dispute resolution compliance confidential information consumer protection court administration court evidence customer account crediting customer funds segregation customer information confidentiality data destruction approval debt priority +65 more

Statute overview

About this statute

This section gives the Act’s short title and says it starts on a date appointed by the Minister and published in the Government Gazette. This provision says the law applies in Tanzania Mainland and Tanzania Zanzibar. This section defines key terms used in the Act, including bank, Bank of Tanzania, electronic money, electronic payment services, payment system, and related actors. The Bank has powers to license, regulate, supervise, inspect, investigate, coordinate, and operate payment system functions, including real-time settlement and related services. A person may not operate a payment system without a licence issued by the Bank under this Act.

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