(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.