Regulations Concerning the Licensing and Operations of Electronic Payment Services in Liberia payment systems in general, may be amplified by the use of electronic media. III. Promote safe and efficient delivery of quality payments services by ensuring transparency, fairness and effective recourse. IV. That any technology employed to deliver any e-payment solution is of industry standard, resilient, scalable, and hardened against cybercrime and void of unauthorized access. 5.0 DEFINITION In these Regulations, unless the context otherwise requires: Authentication means the techniques, procedures and processes used to verify the identity and authorization of prospective and established customers; “Bank” means a company which carries on, or proposes to carry on, banking business in Liberia but does not include the Central Bank; Central Bank means the Central Bank of Liberia; Data integrity means the assurance that information that is in-transit or in storage is not altered without authorization; Electronic payment service means the issuance and management of any electronic instrument or device, or the implementation of a scheme used for the purposes of facilitating payment transfers, through internet and/or wireless communication networks, and by use of service delivery products such as electronic cards, electronic payment transfers systems, mobile apps, internet banking, automated teller machines, point of sales terminals, payment switches and any other type of electronic payment transfer system; Electronic payment channel means the medium by which any electronic instrument, device or scheme can be used for the purposes of facilitating payment transfers, through internet and/or wireless communication networks; Licensed Institution as prescribed in these regulations means banks and non-bank financial institutions and other entities duly licensed by the CBL. Third-party Service Providers and Operators - are institutions licensed by the Central Bank that are engaged in operating and/or providing services related to e-payment products, schemes or systems, as well as the management of channels like electronic payment gateway, ATM Switch, POS Gateway, E-Commerce Gateway etc., usually acting as an intermediary for multilateral routing, switching and processing of payment transactions; 5