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ENABLING MOBILE MONEY POLICIES IN THE DEMOCRATIC REPUBLIC OF CONGO
Title I: GENERAL PROVISIONS
CHAPTER I: DEFINITIONS
Article 1
For the purpose of this Directive:
Acceptor: refers to any retailer or service provider who has entered into an agreement with an electronic money issuer in order
1
to receive electronic money payments from this issuer.
Agents: refers to the persons hired by an electronic money issuer or an electronic money distributor establishing a distribution
2
network, who, within the limits of the agreement binding them, performs transactions related to the distribution of electronic money.
3 Central Bank: refers to the Central Bank of Congo.
4 Electronic Money: refers to any monetary value representing a liability for the issuer, which is:
• stored on an electronic device, including any magnetic device;
• issued on receipt of funds of an amount equal to the monetary value issued; and
• accepted as a means of payment by a legal entity or an individual other than the issuer.
5
Electronic Money Distributor: refers to a legal entity which, in executing an agreement entered into with an electronic money
issuer, provides electronic money loading, reloading, and collection services.
Electronic Money Institution: refers to a legal entity included in the financial company category, as defined in Articles 2 and 3
6
of Act 003/2002 dated February 2, 2002 relating to the activity and supervision of Credit Institutions, which, in accordance with
this Directive, which has obtained, in conformity with this Directive, a licence authorising said entity to issue means of payment in
electronic money and is liable for the debt incorporated in the electronic payment instrument. The activities of such an entity are
limited to:
• issuing electronic money;
• making electronic money available to the public; and
• managing electronic money.
7 Electronic Money Issuer: refers to the institutions referred to in Article 3 that are authorised to perform electronic money issuance
activities and are liable for the debt incorporated in the electronic payment instrument.
8
Electronic Money Reimbursement: refers to the conversion of electronic money into value stored in a deposit account or into cash
at par value upon the holder’s request.
9 Holder: means the person who, pursuant to an agreement entered into with an issuer, holds electronic money on his/her behalf.
10 Prudential Rules: refers to all rules relating to the prudential supervision of legal entities that are authorised to issue electronic
money as part of their regular business.
CHAPTER II: PURPOSE AND SCOPE
Article 2:
This Directive sets forth the access and operating requirements for the issuance of electronic money by regulated institutions as listed
in Article 3 below.
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Title I: GENERAL PROVISIONS
CHAPTER I: DEFINITIONS
Article 1
For the purpose of this Directive:
Acceptor: refers to any retailer or service provider who has entered into an agreement with an electronic money issuer in order
1
to receive electronic money payments from this issuer.
Agents: refers to the persons hired by an electronic money issuer or an electronic money distributor establishing a distribution
2
network, who, within the limits of the agreement binding them, performs transactions related to the distribution of electronic money.
3 Central Bank: refers to the Central Bank of Congo.
4 Electronic Money: refers to any monetary value representing a liability for the issuer, which is:
• stored on an electronic device, including any magnetic device;
• issued on receipt of funds of an amount equal to the monetary value issued; and
• accepted as a means of payment by a legal entity or an individual other than the issuer.
5
Electronic Money Distributor: refers to a legal entity which, in executing an agreement entered into with an electronic money
issuer, provides electronic money loading, reloading, and collection services.
Electronic Money Institution: refers to a legal entity included in the financial company category, as defined in Articles 2 and 3
6
of Act 003/2002 dated February 2, 2002 relating to the activity and supervision of Credit Institutions, which, in accordance with
this Directive, which has obtained, in conformity with this Directive, a licence authorising said entity to issue means of payment in
electronic money and is liable for the debt incorporated in the electronic payment instrument. The activities of such an entity are
limited to:
• issuing electronic money;
• making electronic money available to the public; and
• managing electronic money.
7 Electronic Money Issuer: refers to the institutions referred to in Article 3 that are authorised to perform electronic money issuance
activities and are liable for the debt incorporated in the electronic payment instrument.
8
Electronic Money Reimbursement: refers to the conversion of electronic money into value stored in a deposit account or into cash
at par value upon the holder’s request.
9 Holder: means the person who, pursuant to an agreement entered into with an issuer, holds electronic money on his/her behalf.
10 Prudential Rules: refers to all rules relating to the prudential supervision of legal entities that are authorised to issue electronic
money as part of their regular business.
CHAPTER II: PURPOSE AND SCOPE
Article 2:
This Directive sets forth the access and operating requirements for the issuance of electronic money by regulated institutions as listed
in Article 3 below.
15
