Fee structure for Payment System Operators/ Applicants desirous to setup an PSO in IFSC

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CIRCULAR IFSCA-FMPP0BR/12/2023-Banking-Part(2) – PSO/001 April 02, 2025 To, All Payment System Operators (PSO) in IFSC/ Applicants desirous to setup a PSO in IFSC Dear Sir/Madam, Subject : Fee structure for Payment System Operators/ Applicants desirous to setup a PSO in IFSC This circular is issued in exercise of powers under Regulation 6(2) and 12(2) of International Financial Services Centres Authority (Payment and Settlement Systems) Regulations, 2024, read with clause 6(iii) of the circular on Fee Structure for the entities undertaking or intending to undertake permissible activities in IFSC dated May 17, 2023, relating to fees applicable on grant of authorisation for all other FIs. 2. The following fee structure is applicable to all PSO/ applicants desirous to setup a PSO in IFSC, as applicable: S.N o. Entities Appli catio n Fees1 Licence/Registratio n/Authorisation Fees Recurring Fees Activity based fee Processing Fees Flat Conditional Type of Fee Amount Type of Fee Amount Basis of Fee Amount Modification of terms & conditions of grant of Licence/Regist ration/Authoris ation/Recogniti on, etc. (of substantive nature) Relaxation/wa iver of provisions of applicable Regulations, Guidelines, Circulars, etc., and/or Removing difficulties 1 In accordance with regulation 4(3) of International Financial Services Centres Authority (Payment and Settlement Systems) Regulations, 2024 L Payment System Operators (PSO) (a) Real time or deferred large value payment system $1000 Authoris ation $15000 Annual $10000 N.A. Nil Nil 20% of Authorisation Fee $2500 (b) Trade Repository $1000 Authoris ation $5000 Annual $5000 N.A. Nil Nil 20% of Authorisation Fee $2500 (c) Issuers of Legal Entity Identifier (LEI) $1000 Authoris ation $10000 Annual $5000 N.A. Nil Nil 20% of Authorisation Fee $2500 (d) Card Payment Networks $1000 Authoris ation $15000 Annual $15000 N.A. Nil Nil 20% of Authorisation Fee $2500 (e) TREDS platforms authorised under the Payment and Settlement Systems Act, 2007 $1000 Authoris ation $5000 Annual $10000 N.A. Nil Nil 20% of Authorisation Fee $2500 (f) Any Other $1000 Authoris ation $15000 Annual $10000 N.A. Nil Nil 20% of Authorisation Fee $2500 3. All other provisions of circular on “Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC”, dated May 17, 2023, (as amended) shall apply. 4. This circular shall come into force with immediate effect. Yours faithfully, Supriyo Bhattacharjee Chief General Manager Head Department of Banking