The objects of this Bill are to 
(a) provide for licensing, designation and authorisation of payment service providers; 
(b) provide for the incorporation of standards, principles and concepts of corporate governance in institutional systems and structures of payment service providers; 
(c) provide for sound business practices, consumer protection mechanisms and market conduct in the provision of payment services;
 (d) provide for the regulation and operation of the payment system, clearing systems and settlement systems for purposes of promoting efficiency, stability and safety of the National Payment System;
 (e) provide for corporate restructuring transactions involving payment service providers for purposes of ensuring the operational continuity of the payment system;
 (f) provide for rules, procedures and supervisory action for payment service providers on winding up, insolvency or receivership; 
(g) repeal and replace the National Payment Systems Act, Cap. 359; and 
(h) provide for matters connected with, or incidental to, the foregoing.