Key highlights:

The ob­ject of this Bill is to reg­u­late pay­ment sys­tems, to pro­vide or the safety and ef­fi­ciency of pay­ment sys­tems; to pro­vide for the functions”‘- of the cen­tral bank in re­la­tion to pay­ment sys­tems; to pre­scribe the rules gov­ern­ing the over­sight and pro­tec­tion of pay­ment sys­tems; to pro­vide for fi­nan­cial col­lat­eral arrange­ments; to reg­u­late pay­ment ser­vice providers; to reg­u­late is­suance of elec­tronic money; to pro­vide for the over­sight of pay­ment in­stru­ments and for other re­lated mat­ters.

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