Article 12. Types of payment services The Law on Payments and Payment Systems

Home / RLA / Article 12. Types of payment services The Law on Payments and Payment Systems

1. Types of payment services:

1) services for accepting and making payments and/or money transfers using a bank account;

2) cash acceptance services for crediting to bank accounts, including those of third parties;

3) cash acceptance services for making a payment without opening a bank account of the sender of the money;

4) money transfer services without opening a bank account;

5) services for issuing and redeeming electronic money;

6) Payment card issuance services;

7) services for the sale (distribution) of electronic money and payment cards;

8) services for receiving and processing payments made using electronic money;

9) services for processing payments initiated by the client in electronic form and transmitting the necessary information to the bank, an organization engaged in certain types of banking operations, for making payments and (or) transferring or accepting money for these payments.

2. Do not apply to payment services:

1) services for the transfer of cash by the person making the payment (the payer) to the person(s) to whom the payer has obligations performed without the participation of the payment service provider;

2) services for the collection of banknotes, coins and valuables;

3) services for collecting and transferring money for charitable or non-commercial purposes;

4) services for carrying out exchange operations with foreign currency in cash without opening a bank account;

5) services providing technological support for the provision of payment services, including those related to data processing and storage, authentication of payment service recipients, as well as the transfer and technological support of electronic terminals and equipment used in the provision of payment services;

6) services related to the issuance and use of electronic payment means intended for the purchase of goods or services provided by the issuer of electronic payment means or on its premises, or for the purchase of a certain type of goods or services on the basis of an agreement concluded with the supplier(s) of this type of goods or services;

7) services providing information and technological interaction between the beneficiary – an individual entrepreneur, a legal entity and a payment service provider when the latter makes money transfers in favor of the beneficiary for payments accepted from payers without the participation of third parties.

The Law of the Republic of Kazakhstan dated July 26, 2016 No. 11-VI SAM.

This Law regulates public relations arising in the field of organization and functioning of payment systems, regulation of payment systems and supervision (oversight) of them, regulation of the payment services market and control over it, as well as the implementation of payments and (or) money transfers in the Republic of Kazakhstan.

President

Republic of Kazakhstan

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