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(1) A body corporate other than a body corporate regulated under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) shall not operate a payment system or provide a payment service without a payment system licence issued by the Bank of Ghana in accordance with this Act.

(2) A person who is licensed as a payment service provider by the Bank of Ghana in accordance with this Act may provide the following services:

(a) clearing of payment instructions among financial and non- financial institutions;

(b) settling of obligations arising from the clearing of payment instructions;

(c) transfer of funds from one account to another using any electronic means;

(d) transfer of electronic money from one electronic device to another;

(e) provision of technological services to facilitate switching, routing, clearing and data management;

(f) facilitation of interoperability of payment systems and services among payment systems providers;

(g) provision of electronic payment services to the unbanked and under-banked population;

(h) establishing a payment clearing house;

(i) provision of financial communication network;

(j) issuing of electronic payment instruments; ;

(k) issuing of prepaid cards, credit cards and debit cards;

(I) payment system aggregation function;

(m) provision of any electronic platform for payment or receipt of funds;

(n) printing of non-cash paper payment instrument; or

(0) any other service prescribed by the Bank of Ghana.