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Entry and Participation Criteria

Entry and participation criteria for service providers

The Entry and Participation Criteria are the official assessment principles used to assess the operations of existing and new service providers. PAN has noted a number of service providers in the NPS who are operating without authorisation. Some have approached the PAN to acquaint themselves with the authorisation process and the relevant documentation has been issued to them. A public notice will be issued to notify all unauthorised service providers to register with PAN by the end of 2013. This is also in line with PAN’s strategic objective to identify and register all service providers by December 2013.

Service Provider Annual Authorisation Renewal

In June 2012, the PAN Management Council resolved to review the status of service providers annually. Subsequently, the PAN Executive Office informed registered service providers of the Council’s decision to renew their registrations annually. It was also resolved that no blanket authorisation will be issued, but that authorisation is being considered based on the outcome of a product specific assessment and that each product type must be authorised. For new applicants, the initial application fee is N$7,500. Should the application be successful, a further fee of N$7,500 is due prior to the registration certificate being issued. All annual renewals will be subject to a fee of N$7,500. Service provider assessment reports are forwarded to the BoN for final endorsement. The following service providers are currently registered with PAN to render payment services in the NPS:

  • NamClear (Pty) Ltd
  • PayM8 (Pty) Ltd
  • RealPay (Pty) Ltd
  • Smartswitch (Pty) Ltd
  • Innervation Value Added Services (Pty) Ltd
  • Hyphen Technology Namibia (Pty) Ltd
  • Virtual Card Services Namibia (Pty) Ltd
  • ATM Solution Namibia (Pty) Ltd
  • Fidel Iipumbu Mobile Technology CC t/a Mobitek
  • National Payment Solution (Pty) Ltd
 

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