Payment System Operator or Payment System Administrator License in El Salvador

• Operate clearing and/or settlement functions for payment instruments/schemes

• Operate card/payment switching network and merchant acquiring gateway

• Provide messaging, routing, authorization and netting services to participants

• Set and enforce system rules; certify participants and interfaces

• Operate real‑time or deferred net settlement (as authorized)

• Ancillary services: dispute management, fraud/chargeback tooling, reporting portals

• Local legal entity and registered presence; effective management onshore

• System rules approved by BCR; transparent participation criteria and fees

• Governance & risk management (operational, liquidity, credit, legal risks) and clear default procedures

• Settlement arrangements at BCR or with designated settlement banks; collateral where required

• Operational resilience and cybersecurity; capacity, availability and incident reporting SLAs

• BCP/DR with geographic redundancy; periodic testing and audits

• Outsourcing/vendor oversight (critical ICT, data centers); data protection & privacy controls

• Reporting to BCR/competent authorities; recordkeeping & participant reporting interfaces

Core local team (indicative):

• CEO / System Manager; Governance/Rules Secretariat

• Head of Compliance & MLRO; Risk Manager

• Operations & Settlement lead; Participant Onboarding lead

• IT/Security (CISO), Network/Infrastructure, Database/DevOps

• Fraud & Dispute management team; Customer Protection officer

• Finance/Accounting; Internal Audit (independent)

• Switching/authorization engine; clearing/netting and settlement modules

• ISO 20022/8583 connectivity; secure APIs, SDKs and certification toolkits

• Reconciliation & reporting portals for participants; dashboards & MI

• Fraud monitoring & dispute/chargeback workflow; case management

• KYC/AML screening integration for participants (where applicable); sanctions tools

• Cybersecurity controls (IAM, HSM, logging/SIEM, vulnerability mgmt, pen‑tests)

• BCP/DR automation; active‑active or warm‑standby data centers

• Domestic payment system operations; cross‑border corridors subject to FX/AML rules and partner jurisdictions.

• Corporate income tax: generally 30%.

• VAT (IVA): 13% on applicable services; certain financial infrastructure services may be exempt.

• Withholding, payroll and other taxes per Salvadoran law.

• Settlement account(s) at BCR or designated settlement banks.

• Operational accounts with local banks; escrow/guarantee arrangements if required.

• Participant collateral/guarantee accounts where applicable.