Payment Service Provider in Malta

Document Requirements in Malta

The Authority requires that all applications for a license shall be filed in accordance with its official application forms as applicable, and shall be accompanied by:

• Draft incorporation documents;
• A program of operations;
• The proposed level of initial capital and evidence thereof;
• A business plan and a forecast budget calculation (financial projections);
• A description of the internal control mechanisms which the applicant will establish in order to comply with obligations in relation to money laundering and terrorist financing;
• A description of the structure of the organization;
• The identity of all officers and controllers and shareholders of the institution;
• A description of the procedure to monitor, handle and follow up on security incidents and security-related customer complaints;
• A description of the process in place to file, monitor, track and restrict access to sensitive payment data;
• A description of the business continuity arrangements;
• A description of the principles and definitions applicable to the collection of statistical data on performance, transactions, and fraud;
• A security policy document and risk assessment;
• A description of the measures taken for safeguarding payment service