Transcription of Merchant Acquiring Services
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Merchant Acquiring Services Issued on: 15 September 2021 BNM/RH/PD 028-119 Merchant Acquiring Services Applicable to: Registered Merchant acquirers 2 Merchant Acquiring Services Issued on: 15 September 2021 TABLE OF CONTENTS PART A OVERVIEW .. 1 1. Introduction .. 1 2. Applicability .. 2 3. Legal Provisions .. 2 4. Effective Date .. 2 5. Interpretation .. 3 6. Related Legal Instruments and Policy Documents .. 7 7. Policy Documents Superseded .. 8 PART B GOVERNANCE .. 9 8. Effective Governance and Oversight .. 9 PART C OPERATIONAL REQUIREMENTS .. 13 9. Minimum Capital Funds Requirements for Non-Bank Acquirers .. 13 10. Settlement Risk Management .. 13 11. Merchant Management .. 15 12. Fraud Risk Management.
1.2 In tandem with the rapid changes in the electronic payment (e-payment) landscape, merchant acquiringservices have experienced significant growthand ... “cyber risk” refers to threats or vulnerabilities emanating from theconnectivity of
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