Article 4-2. The main tasks, principles of operation and components of the national digital financial infrastructure of the Law on Payments and Payment Systems

Home / Laws / Article 4-2. The main tasks, principles of operation and components of the national digital financial infrastructure of the Law on Payments and Payment Systems

1. The main tasks of the national digital financial infrastructure:

1) ensuring the interaction of banks and organizations engaged in certain types of banking operations when conducting interbank payments and money transfers, mobile payments through the national payment system, and operations using the digital tenge;

2) conducting biometric authentication of clients of financial and payment organizations;

3) assistance in countering fraud by exchanging data between participants on payment transactions with signs of fraud and other payment transactions;

4) processing in the territory of the Republic of Kazakhstan of interbank payments and (or) money transfers using payment cards issued by second-tier banks and organizations engaged in certain types of banking operations;

5) providing a secure environment for the exchange of information between payment service providers through open software interfaces;

6) collection, storage and processing of consents of clients participating in the financial market and the payment services market to provide data to third-party payment service providers.

2. The national digital financial infrastructure operates on the principles of:

1) equal and open access of participants to the components of the national digital financial infrastructure;

2) ensuring security in the interaction of participants in the national digital financial infrastructure;

3) ensuring the protection of the rights of consumers of payment services;

4) promoting innovation and stimulating competition in the financial and payment services markets.

3. The components of the national digital financial infrastructure are:

1) national payment system;

2) Open banking system;

3) anti-fraud Center of the National Bank of the Republic of Kazakhstan;

4) Identification Data Exchange Center;

5) Digital tenge platform;

6) other components determined by the National Bank of the Republic of Kazakhstan.

4. The procedure for the functioning and provision of services of the Identification Data Exchange Center is established by the regulatory legal act of the National Bank of the Republic of Kazakhstan regulating the provision of electronic banking services.

5. Second-tier banks providing electronic banking services through mobile applications and (or) remote access systems are required to use components of the national digital financial infrastructure to provide customers with services for interbank mobile payments and money transfers, operations using digital tenge, remote biometric authentication of customers, processing customer consents to the provision of payment services by third-party providers. payment services.

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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