Retail Payment Services and Card Schemes Regulation RPSCS
United Arab Emirates
2021
Payments
Overview
Key Obligations
- Obtain a license from CBUAE before providing retail payment services
- Maintain capital adequacy and governance requirements depending on license category
- Ensure consumer protection, including transparency of fees and terms
- Segregate customer funds and ensure safeguarding of client money
- Implement AML/CFT controls in line with Federal Decree-Law No. 20 of 2018
- Provide secure and interoperable infrastructure for payment systems
- Submit to CBUAE supervision, inspections, and reporting requirements
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Related Regulations
FAQ
Who regulates the RPSCS?
The Central Bank of the UAE (CBUAE).
Who must comply?
Banks, PSPs, card issuers, acquirers, fintechs, and payment processors operating in the UAE.
Are PSPs required to hold customer funds separately?
Yes. Customer funds must be segregated and safeguarded.
Does RPSCS include AML/CFT requirements?
Yes. Licensed entities must implement AML/CFT controls consistent with UAE AML Law and CBUAE guidance.