An Act to provide for licensing, designation and authorisation of payment service providers; provide for the incorporation of standards, principles and concepts of corporate governance in institutional systems and structures of payment service providers; provide for sound business practices, consumer protection mechanisms and market conduct in the provision of payment services; 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; provide for corporate restructuring transactions involving payment service providers for purposes of ensuring the operational continuity of the payment system; provide for rules, procedures and supervisory action for payment service providers on winding-up, insolvency or receivership; repeal and replace the National Payment Systems Act, Cap. 359; and provide for matters connected with, or incidental to, the foregoing.