The following activities, linked or related to the provision or management of payment methods as defined in Article 12 of Regulation No. 03/16/CEMAC/UMAC/CM, are considered payment services such as:
- Credit institutions as defined by the Convention of January 17, 1992, on the harmonization of banking regulations in the Central African States;
- Microfinance institutions as defined by Regulation No. 01/02/CEMAC/UMAC/COBAC/CM of April 13, 2002, concerning the conditions for carrying out and monitoring microfinance activities in the CEMAC region;
- The Public Treasury and postal check services, subject to the specificities related to their status;
- Other approved institutions.
PAYMENT SERVICE PROVIDERS IN CAMEROON GRANT THE RESPECTIVE SERVICES
1. Services enabling the deposit and withdrawal of cash from a bank or payment account and related management operations;
2. The execution of the following payment operations associated with a bank or payment account:
- Direct debits, including single authorized direct debits;
- Payment operations carried out with a payment card or similar device enabling these operations;
- One-off or recurring transfers.
3. The execution of the following payment operations associated with a line of credit:
- Direct debits, including single authorized direct debits;
- Payment operations carried out with a payment card or similar device enabling these operations;
- One-off or recurring transfers;
4. The provision of payment instruments or the acquisition of payment orders;
5. Money transfer services that do not involve an account of either the payer, the payee, or both;
6. The issuance and management of electronic money.
THOSE WITH AUTHORITY TO ORDER PAYMENT TRANSACTIONS IN CAMEROON
A payment transaction can be ordered by:
- The payer, who gives a payment order to their payment service provider;
- The payer, who gives a payment order through the payee, who, after receiving the payment order from the payer, transmits it to the payer's payment service provider, where applicable, through their own payment service provider;
- The payee, who gives a payment order to the payer's payment service provider, based on the consent given by the payer to the payee and, where applicable, through their own payment service provider.