Bank Negara Malaysia (the Bank) today issued the exposure draft on Merchant Acquiring Services. The exposure draft sets out the Bank’s proposed requirements and expectations on merchant acquirers registered pursuant to section 18(1) of the Financial Services Act 2013, pertaining to governance, risk management, outsourcing and IT security.

The Bank invites written feedback on the proposed requirements, including suggestions on areas to be clarified and alternative proposals that the Bank should consider. The written feedback should be supported with clear rationale, accompanying evidence or illustrations, as appropriate to facilitate effective review of this exposure draft.

Responses must be submitted by 1 September 2020.

See also: Merchant Acquiring Services Exposure Draft

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