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.
For the purposes of this Regulation, an operational function is considered to be where an abnormality or failure in the performance of that function is likely to seriously impair the payment service provider's ability to comply on an ongoing basis with applicable regulations, its financial performance, or the reliability or continuity of its payment services.
The outsourcing of an essential operational function consists, for a payment service provider, in entrusting to a third party, a natural person who is not a member of its staff or a legal entity other than the said establishment, on a permanent and regular basis, the provision of services relating to the said function by subcontracting, mandate or delegation.
A payment service provider may outsource the performance of an essential operational function to a technical partner.
However, the performance of a function that contributes substantially to the provision of payment services or related services, as defined in Articles 3 and 12 of the Regulation, may only be outsourced to an institution authorised to provide said services.
Activities relating to permanent control, internal audit, compliance control and risk management may only be outsourced to an entity in the banking group to which the payment service provider belongs.
Where a payment service provider uses the technical assistance of a third party, the services provided in this context shall not result in the outsourcing of the activities concerned within the meaning of Article 59 of the Regulation.
The payment service provider is responsible for ensuring that the outsourced technical device complies with the requirements of this Regulation.
Payment service providers who outsource an essential operational function must;
- Ensures that its internal control system protects outsourced activities,
- Has systems in place to control its outsourced activities.