Article 39-1. Transactions with payment cards of the Law on Payments and Payment Systems

Home / Laws / Article 39-1. Transactions with payment cards of the Law on Payments and Payment Systems

Transactions with payment cards include:

1) issuance of a payment card, payments and (or) money transfers using the payment card or its details, including operations related to receiving cash, currency exchange and (or) other operations determined by the issuer of the payment card;

2) payments and (or) money transfers using a bank account, which is accessed via a payment card, including using an alternative identifier;

3) technological support of operations with payment cards, including data collection, processing, storage, authentication of payment participants and sending information to settlement participants on transactions specified in subitems 1) and 2) of this paragraph;

4) clearing and settlement between participants in the operations specified in subitems 1) and 2) of this paragraph;

5) payment of commissions for the services specified in subitems 1), 2), 3) and 4) of this paragraph, as well as commissions between the participant and the operator of the payment system, between the participants of the payment system that processes transactions on payment cards.

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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