MARCH Form: PSD001

(1)

MAR

RCH

2013

ELECTR

APPLICA

RONIC

R

ATION

F

ETAIL

PA

OR

AUT

AYMENT

HORIZAT

T

SERVIC

TION

CE

PROVIIDER

(2)

1

1.1

1.2

1.3

2.

2.1

2.2

3.

3.1 APPLI

Overview

In

accord

(Bank)

is

mandate

payment

were

de

framewo

system.

T

driving

th

All

electr

prior

to

commen

steps

to

s

of

any

ex

This

docu

electroni

The

Appl

The

Bank

April

201 Applicati

St

Stage

1 –

Stage

1 –

and

tech

the

appli

as

provid

a

b

c.

ICATION

FO

w

dance

with

S

charged

wit

e

the

Bank

is

t

services

se

veloped

and

ork

within

w

The

initiative

he

developm

ronic

retail

p

the

comm

ced

operatio

secure

autho

xtended

peri

ument

detai

ic

retail

paym

lication

Proc

k

will

accept

13. ons

will

be

s

tage

1 –

Bus

tage

2 –

Ope

–

Business

A

–

Business

A

nical

expert

icant.

The

cr

ded

for

unde

.

Natur

.

Capita

.

Adequ

R

AUTHORIZ

Section

3 of

th

responsib

s

in

the

proc

ector.

The

G

d

published

which

the

Ba

e

of

the

Ban

ment

of

and

payment

ser

mencement

ons

prior

to

orization

fro

iod

that

the

ils

the

applic

ment

service

cess

t

completed

subjected

to

siness

Assess

erational

Ass

Assessment

ise

and

the

riteria

for

Sta

er

the

Guide

re

and

scale

al

adequacy;

uate

Govern

ZATION

‐

EL

f

the

Payme

bility

for

Ove

cess

of

facilit

Guidelines

f

by

the

Ban

ank

will

adm

k

is

informe

demand

for

rvice

provide

of

operati

the

implem

om

the

Bank

may

d

cation

and

a

es.

application

o

a

two

stage

sment

sessment

involves

a

re

governance

age

1 ‐

Busin

lines:

of

the

busin

;

nance

Arrang

ECTRONIC

R

nt

Clearing

ersight

of

the

tating

the

g

or

Electroni

nk

after

ext

minister

its

O

d

by

the

rap

innovative

p

ers

will

be

r

ons.

Electr

mentation

of

within

6 mo

etermine.

authorizatio

forms

alon

e

assessmen

eview

of

the

and

admini

ness

Assessm

ess;

gements;

RETAIL

PAYM

and

Settlem

e

National

Pa

rowth

and

d

ic

Retail

Pay

tensive

stak

Oversight

fun

pid

pace

of

t

payment

pro

required

to

onic

Retail

f

the

Guideli

onths

from

2 n

process

fo

g

with

the

r

nt

process,

i.e

e

business

p

strative

arra

ment

will

inc

MENT

SERVI

ment

Act,

20 ayment

Syst

developmen

yment

Serv

keholder

con

nction

in

re

technologica

oducts

and

s

secure

auth

Payment

nes

are

req

2 April

2013

or

applicants

required

info

e.:

plans,

financ

angements

t

clude

a

revie

CE

PROVIDE

010,

the

Ban

tem.

In

keep

nt

of

the

elec

ices

(Guidel

nsultations,

lation

to

ret

al

advancem

services.

horization

fro

Service

Pro

uired

to

tak

or

before

th

s

who

inten

ormation

co

cial

strength

that

will

be

e

ew

of

the

fol

ER

k

of

Jamaica

ping

with

thi

ctronic

retai

lines),

which

provide

the

tail

paymen

ent,

which

i

om

the

Ban

oviders

who

e

immediate

he

expiration

d

to

provide

ommencing

2 ,

manageria

employed

by

lowing

area

a

s

il

h

e

t

s

k

o

e

n

e

2 al

y

s

(3)

3.2

3.3

4.

4.1

4.2 d

e

f.

g

h

As

part

presenta

Applican

arise

du

The

Bank

Stage

2 Assessme

confirme

Stage

2 –

Stage

2 –

operatio

the

appli

The

crite

are

as

fo

a

b

Additiona

process.

.

Outso

.

Use

o

Consu

.

Liquid

.

Eviden

of

Stage

1 ation

cover

nts

must

be

ring

the

pr

k

will

commu

–

Operation

ent,

the

suit

ed.

–

Operationa

–

Operation

ns

inclusive

cant’s

prima

eria

for

Sta

ollows:

.

Opera

i.

ii.

iii.

iv.

.

Inform

i.

ii.

iii.

al

informati

ourcing

Arran

f

Agents;

umer

protect

dity

Requirem

nce

of

funds

–

Business

ing

critical

e

prepared

esentation

unicate

the

r

nal

Assessm

ability

of

the

al

Assessme

nal

Assessm

of

the

infor

ary

location

age

2 –

Ope

ational

requi

Evidence

o

documenta

Rules,

proc

Evidence

of

Evidence

of

mation

Tech

Evidence

of

Measures

o

Systems

se

ion

and

doc

ngements;

tion;

ments;

s

manageme

Assessmen

componen

to

respond

.

results

of

th

ment

will

co

e

applicant

t

ent

will

be

rmation

tech

and

operati

erational

A

irements

inc

f

service

be

ation

where

cedures,

poli

f

outsourcin

f

defined

ter

nology

Infra

f

systems

int

of

operation

curity

and

a

cumentation

ent;

and

AML

t,

applicant

nts

of

the

b

d

to

all

que

e

Stage

1 –

B

mmence

on

to

operate

th

administere

hnology

infra

onal

environ

Assessment

clusive

of:

ing

provided

relevant;

cies

and

oth

g

and/or

ag

rms

and

con

structure

re

teroperabilit

al

reliability

ccessibility.

n

may

be

re

L/CFT

proce

ts

will

be

re

business

an

eries

and

re

Business

Ass

nly

if,

on

th

he

proposed

ed

to

determ

astructure.

T

nment

in

gen

based

on

d

with

clear

her

contractu

ency

arrang

nditions

for

c

eview

inclusi

ty,

identifica

y,

business

co

equested

by

sses

and

pro

equired

to

d

the

oper

equests

for

sessment

to

he

basis

of

d

electronic

mine

the

ad

This

will

be

neral.

the

provis

r

identificatio

ual

or

opera

ements

and

customers,

a

ve

of:

ation

of

stan

ontingency

a

y

the

Bank

ocedures.

make

a

com

ational

arra

clarificatio

the

applica

the

Stage

1 retail

payme

dequacy

of

t

an

onsite

as

ions

in

the

on

of

custod

ational

proce

agreement

and

merchan

ndards

comp

arrangemen

during

the

mprehensive

angements

on

that

may

nt

in

writing

1 –

Busines

ent

service

i

the

busines

ssessment

o

e

Guideline

dian

accoun

edures;

s;

and

nts.

pliance;

nts;

and

assessmen

e

.

y

g.

s

f

s

t

(4)

5.

5.1

5.2

5.3

5.4

5.5

5.6

5.7 Direction

All

Appli

operating

All

quest

applicabl

If

the

ap

provided

Where

a

taken

as

Where

t

informat

containe

regard

to

Applican

The

time

a

b

c.

d

e

ns

for

Comp

ications

mu

g

entity.

tions

on

the

le

(N/A)

or

n

pplicant

is

u

d

in

the

cove

pplicants

are

confirmatio

he

space

p

ion

should

b

d

on

the

a

o

the

respon

ts

can

provid

eframe

for

au

.

The

co

.

The

co

.

The

ti

.

Any

fu

.

The

t

applic

leting

Appli

st

be

subm

e

applicatio

none

as

appr

unable

to

su

ring

letter

(w

e

required

to

n.

rovided

on

be

submitte

pplication

f

nses

provided

de

additiona

uthorization

omplexity

of

omplexity

of

me

taken

by

urther

chang

ime

taken

b

cation.

cation

Form

mitted

with

n

form

mus

ropriate.

Do

ubmit

any

o

with

referen

o

‘confirm’,

the

applica

ed

on

a

sepa

form.

Furthe

d)

for

the

pu

al

informatio

will

be

impa

f

the

applica

f

the

group

s

y

the

applica

ges

made

by

any

relev

m

a

covering

st

be

compl

not

leave

bl

of

the

requi

nce

to

the

sp

a

tick

()

pl

ation

form

arate

sheet

er

informati

urpose

of

co

on

that

may

acted

by:

ation;

structure

(if

ant

to

respon

y

the

applica

vant

third

p

letter

sign

leted.

If

a

q

lank

spaces.

red

docume

pecific

quest

laced

in

the

is

inadequa

with

the

ap

ion

or

clarif

nsidering

an

assist

with

t

applicable);

nd

to

querie

nt

during

th

party

to

res

ed

by

the

question

do

entation,

an

ion

number)

application

ate

for

the

ppropriate

r

fication

may

nd

assessing

the

assessm

;

es/clarificatio

he

authorizat

spond

to

qu

principal

of

es

not

appl

n

explanatio

).

confirmatio

response,

t

eference

to

y

be

reque

an

applicati

ent

process.

ons;

tion

process

ueries

in

rel

fficer

of

the

ly,

write

no

on

should

be

n

box

will

be

the

required

the

reques

sted

(having

ion.

.

s;

and

ation

to

the

e

t

e

d

t

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(5)

AP Pursuant applicants otherwise 1 THE APP 1.1 Full le 1.2 Trade 1.3 Busin 1.4 Telep 1.5 Fax N 1.6 E-ma 1.7 Instit 1.8 Date 1.9 Comp 1.10 Type 1.11 Provid 1.12 Provid estab 1.13 Provid 2. CAPITA 2.1 Confirm Service 2.2 Confirm 2.3 Provide 3. GOVER Pursuant shall esta integrity include: 3.1 OWNE 3.1.1 Pro Atta PPLICATION F to Section s are require e requested b PLICANT egal name of a e name (if diffe ess Address: phone Number: Number: il Address: tution website of Incorporatio pany’s TRN: of Business: de a valid Tax Attached de a certified c blished and Cer Attached de a certified c Attached

AL

m that pursuan es, there is suf Yes m that evidence Attached e a capital man Attached NANCE to Section 7 ablish adequa of the operat ERSHIP AND M vide ownership ach a corporat Attached FOR AUTHORI 5 – Authoriz ed to submit by the Bank, t applicant (Com erent from 1.1) (if applicable): on: Compliance Ce copy of the Art rtificate of Inco

copy of the last nt to Section 6 fficient capital e of the requir nagement plan – Governanc ate governanc tions of its el MANAGEMENT p and organiza e organization

BANK O

IZATION - EL zation; of th

all the inform to inform the pany Name): ): : ertificate: Will follow icles of Associa orporation or B Will follow t audited finan Will follow - Capital Requ to support a m No ed net worth i Will follow . Will follow ce; of the Guid

ce arrangeme lectronic reta NT STRUCTURE tional informat chart). Will follow

OF JAMA

LECTRONIC R he Guidelines mation and d authorizatio ation or constit Business Regist cial statement irements; of th minimum net w s attached. delines for El ents, which a ail payment s E

tion (e.g. relat

AICA

ETAIL PAYME s for Electro documents, as n process. tuent documen tration in Jama (where applic he Guidelines f worth of USD10 lectronic Reta are effective a service. The g tionship to pare ENT SERVICE onic Retail P s outlined in nt under which aica: able): for Electronic R 00,000. tail Payment S and transpar governance a ent, holdings e PROVIDER Payment Serv the Guidelin the business i Retail Payment Services, an i rent, to ensur arrangements etc.) vices, nes or is t issuer re the s shall

(6)

1 _Sign indirec 3.1.2 Prov dire form Full Nam 3.1.3 Prov own 1 2 3 4 5 3.2 RISK 3.2.1 In r 1 2 3 3.2.2 Deta othe 3.3 Intern 3.3.1 Has a 3.3.2 If ye 3.4 BUSIN 3.4.1 Provi 3.5 SYSTE 3.5.1 In r 1 2 nificant interest m ctly, exercising a vide a certified ctors, shareho mat below: me Address_fax, Attached vide fit and pr ers, chief exec

Fit and Prop

Personal Que of Jamaica’s Certified Pho Curriculum V The original The relevant MANAGEMEN relation to risk Risk Manag Appropriate risk and ensu Adequate r hardware, so consistent an An indepen electronic re ails of the polic er risks. Attached nal Audit an independen Yes s, provide deta Attached NESS CONTIN ide the details Attached EM SECURITY relation to syst System Sec Adequate an relevant risk Data is trans means owning, d a significant influ

list of the full lders,1_benefic (Telephone, , e-mail) oper requirem cutive officer a per Requirem estionnaires (t website http:/ otograph Vitae receipt eviden fee for obtain NT

management,

gement

risk managem ure safety and

esources and oftware and o nd reliable serv dent risk ma tail payment se cies and proced W

t internal audit ails of the arra NUITY PLAN of the busines Y AND INTEGR tem security an

curity and Int

nd appropriate s.

smitted securel

directly or indirec uence over the m

name, addres ial owners, chi

Date dd-m Will follow ents as detaile nd other senio ments his may be do //www.boj.org. cing payment f ing FID Cleara

confirm that t ent infrastruct integrity of tra d capacity in other operating vice. anagement fu ervices. dures to identi Will follow t function been No ngements for e Will follow ss continuity ar Will follow RITY nd integrity, co tegrity controls are y.

ctly 10 percent o management of t s, date-of-birth ef executive of of Birth mm-yyyy ed below in re or officers of th wnloaded from .jm for a Police Ce ance the following a ture to mitigat ansfers. n terms of g capabilities unction to ov fy, manage an n established ( executing the i rrangements.

onfirm the follo

in place to m

or more of the ca he institution, a

h, TRN and the fficer and othe

TRN spect of each he proposed El m the Bank ertificate re in place: te financial expertise, to deliver versee the d monitor ope

(or is being est internal audit f

owing:

itigate the

apital or of the v s the central ban

e duties (where er senior office directors, sha ectronic Retail Attached Yes rational, financ tablished)? function. Yes voting rights of t nk may determin e relevant) of t ers as per the

Duties (if any) reholders, ben Payment Serv Will fol No cial and No the institution or ne. the neficial vice: low r directly or

(7)

3 3.5.2 Ide 3.5.3 Do 3.5.4 Provi 4. OPERAT 4.1 Pursu is Co pa 1 2 3 4 4.2 Pro 4.3 List a Appropriate documented ntify the office

you intend to Yes ide a system se Attached TIONAL REQU uant to Sectio suers shall est onfirm whethe ayment service Operationa Rules and pr liabilities of services, a stakeholders Measures to the scheme, control proc whether inte Adequate arr Separate rec payment inst ovide a copy of Attached any other servic

systems secur and tested. ers responsible

secure the serv ecurity plan. UIREMENT n 8 - Operatio ablish appropr r there are ad e, which shall i l Requiremen rocedures sett f the issuer, gents, merch . ensure safety , including co cedures, to b rnal or outsou rangements to cords and acco

truments. f your operatio

ces, which will

rity procedures

for the ongoin

vice of a third No Will follow onal Requireme iate operationa dequate operat nclude: nts

ing out the rig third parties hants, users , security and ntingency arra be applied to rced. ensure interop ounts for activi

nal plan. Will follow be offered: s have been d ng review of a party to condu ents; of the Gu al arrangement tional arrangem ghts, responsib s providing o and other operational re angements an o all relevant perability. ities related to developed, all IT arrangem uct security au uidelines for E ts. ments in place bilities and outsourced relevant eliability of d disaster t systems, o the retail

ment and freque

dits?

Electronic Reta

for the propo

Yes ency of review il Payment Ser osed electronic No ws: rvices, c retail

(8)

4.4 Provid 4.5 If mu 4.6 Who 5. OUTSO 5.1 Pursu whet Risk 5.2 If ye outs 5.3 In rel 1 2 3 4 5 5.4 Pursu whether ag 5.5 If Yes 5.6 Provid de the followin a. A detai Att b. A detai The dia I. II. III. IV. c. A detai and eff Att ultiple products Att will be your cle

URCING AND

uant to Sectio her any impor Management/C es, indicate w sourcing arrang Att lation to the ou The outsour management The relation payment serv None of the authorization The outsourc in such a wa controls and the applican Guidelines. A service Le outsourced agreement(s uant to Section gents, branche s, provide infor Att de the followin a. A list w used in Att ng in relation to led description tached led flow diagra agram should i Flow of fund Clear identif Timing and d Payment me Yes il description o ficient delivery tached s will be provid tached earing and sett

USE OF AGEN on 10 – Outso rtant function Compliance will Yes which functions gements includ tached utsourcing of i

rcing will not t of its respons nship and obli vice users shal conditions (if n is granted sh cing of operat ay as to impair the ability of t’s compliance vel Agreement functions re ) is (are) attac 11 - Use of Ag s or other third Yes rmation on the tached ng for each age with the name n the provision tached o the issuance n of the electro Will fo am representin nclude: ds and informat ication of agen dependencies b dia (e.g. mobi of the establis of payment se Will fo ed, a separate Will fo tlement agent? NTS ourcing; of the of the electro l be outsourced s will be outso ding copies of t Will fo mportant opera result in th sibility. gations of th ll not be altere any) subject all be removed ional functions r the quality o f the competen e with all oblig t will be put in eferenced at ched. gents; of the G d parties will b e number and l Will Foll ent: es, addresses, of electronic r Will fo of electronic r onic retail paym

llow ng the electron tion transmitte nts and/or bran between payme le phone or ca No hed clearing a ervices. llow e diagram must llow ? Provide name e Guidelines f nic retail paym d to another en

No

ourced, the na the service leve

llow ational functio e delegation e applicant to ed. to which the d or modified. s will not be u f the applicant nt authorities t gations laid do n place in relat 5.2 and t Guidelines for E be appointed. No ocation of such ow TRN and cont retail payment llow retail payment ment service pr ic retail payme ed between pay nches or other ent flows; rd) and the sy and settlement t be provided f e and business for Electronic ment services ntity. ame of the op el agreements ns confirm tha by senior owards its applicant’s undertaken t’s internal to monitor own in the tion to the the draft Electronic Reta h entities : tact informatio services. services: rocess. ent transaction yer and payee; entity involved stem to be em

t arrangements

for each payme

details.

Retail Paymen e.g. I.T., fina

perator and pr where applica

at:

Yes

ail Payment Ser

on of the prin n process. ; d in the proces ployed; s to ensure th ent process. nt Services, co ance, Internal rovide details ble. No rvices, confirm cipal agent(s) ss; e safe onfirm Audit, of the to be

(9)

1 2 3 4 5 6. CONSU 6.1 Pursu Payment S 1 2 3 4 5 6 7 8 6.2 Provi electr 6.3 Prov 7 LIQUID 7.1 Pursu confi 7.2 Provid 7.3 Provide b. A desc with th (CFT). Att c. Criteria Att d. A copy and du e. Provide

Fit and Prop

Personal Que of Jamaica’s Certified Pho Curriculum V The original The relevant MER PROTEC uant to Section ervices, confirm Consumer P Protection of Consumer ed Privacy of cu Reliable and Transparency Prompt respo Refund dema Dispute reso de details of t ronic retail pay

Att ide details of t Att ITY uant to Section rm that the mi a. liquid previ b. liquid de financial pro Att e a liquidity ma ription of the e obligations i tached a for appointing tached of the agency ties and perfor e the fit and pr

per Requirem estionnaires (th website http:/ otograph Vitae receipt eviden fee for obtain

TION, EDUCA n 12 - Consum m whether ade Protection, Ed f customer fund ducation ustomer inform quality service y of product an onse to inquirie ands lution he methods th yment services tached the dispute res tached

13 - Liquidity nimum liquidit d funds of not ious six month

d funds of not Yes ojections and b tached anagement pla internal contro n relation to a Will fo g agents. Will fo y agreement, d rmance standa roper requirem ments

his may be dow //www.boj.org.

cing payment f ing FID Cleara

ATION AND PR mer Protection, equate measure ducation and ds ation es nd services es and complai

hat will be imp . Will fo solution arrang Will fo Requirement; y requirements

less than thre s) of amounts

less than six m udget for at le Will fo n. ol mechanisms nti-money laun llow llow detailing the ar rds of the agen ents as detaile wnloaded from .jm. for a Police Ce ance RIVACY Education and es are in place Privacy ints lemented to sa llow ements and re llow of the Guidelin s are in place a ee times the av required to se and months gross o No east three (3) y llow that will be u ndering (AML) rrangements to nt. ed below in res the Bank ertificate d Privacy; of t e to address the

afe guard the f

dress mechani

nes for Electro as detailed bel verage maximu ttle customer t operating expen years. used by agents and combattin o include the r spect of each a Attached the Guidelines e following: Yes funds which ar sms.

onic Retail Paym ow: um daily value transactions; nses. s in order to c ng terrorist fina ights responsib agent: Will fol for Electronic No re held in relat ment Services, (computed ov comply ancing bilities low Retail tion to er the

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8 ANTI-M 8.1 Pursu Elect 1 2 3 8.2 Provid the E 9 COMPLI 9.1 In rel 1 2 The a Applic ONEY LAUND uant to Section ronic Retail Pa Anti-Money Adequate pro comply with guidelines ad Adequate pr third party relevant AML Appropriate maintain the reporting req de the Anti-mo Electronic Retai Att IANCE lation to compl Compliance The retail pa The relevant have been es applicant shoul

cation form and

DERING AND T 20 - Anti-Mon yment Services y Laundering ocedures are i AML/CFT pro dopted by the ocedures are acting on you L/CFT requirem processes and e relevant info quirements. oney laundering il Payment Serv tached

liance with sta

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Pleas Bank Paym 76 Kn Kings Jamai For q The D Paym Bank 76 Kn Kings Jamai Telep E-mai I declare t and belief, Senior Offi Signature: Senior Offi Signature: Designated Signature: Affix comp se return form of Jamaica ent System De nutsford Boulev ton 5 ica questions, ple Director ent System De of Jamaica nutsford Boulev ton 5 ica hone: (876) 92 il: payment.sys

hat all stateme true and comp cer: cer: d Officer: any seal: m and suppor epartment vard ease contact: epartment vard 22-0750-9 exte [email protected] ents made in th plete statemen rting documen ension 6100-1 jm his application nts. nts to:

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