Regulatory Alerts2025-01-01
Circular No. 5/2025: Instant Payment System Services and Customer Experience Improvement
The Palestine Monetary Authority issued Circular No. 5/2025 to mandate banks to enhance the effectiveness of instant payment services, specifically addressing deficiencies in bulk transfers, QR code payments, and business-to-business transactions. The directive requires banks to implement marketing incentives, improve customer experience through modern technologies like NFC, and officially brand QR-based instant payments as "Quick" using a standardized logo. Banks must also submit periodic reports on their marketing plans and transaction volumes to the Authority by the fifth working day of each month.
[Logo of Palestine Monetary Authority] Palestine Monetary Authority
Circular No. (5 / 2025) To all banks operating in Palestine Date: Sunday, July 27, 2025
Subject: Instant Payment System Services and Customer Experience Improvement
Based on Palestine Monetary Authority Instruction No. (8) of 2023 regarding the issuance of QR codes, and Palestine Monetary Authority Instruction No. (8) of 2024 regarding the Instant Payment System, and Instruction No. (4) of 2025 regarding Instant Payment System Services, and through the Authority's monitoring of the nature of services implemented via the system, it has become evident that some system services are not being provided effectively, particularly bulk transfers, payments using QR codes, and person-to-business transfers via the payment model (B2B). Accordingly, the following must be adhered to:
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Work on creating and establishing use cases that align with the services provided via the system and target various economic and commercial sectors to encourage them to accept payments using QR codes.
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Begin implementing marketing and promotion for each service launched under incentive policies that include both the payer and the beneficiary, encouraging the efficient and effective use of the aforementioned services. By the end of the current year, ensure access for all customers classified as merchants (retail sales) and encourage them to use QR codes if they do not have Point of Sale (POS) services.
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Improve customer experience by facilitating access to, reading, and using QR codes to execute payments at the merchant, by using modern technologies such as NFC, and adding the QR code feature before logging into the banking application, with instant payment authorization using the customer's approved authentication method (fingerprint, OTP, or login password).
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The P2B payment model shall be used when paying using QR CODE, and accepted practices and procedures for card usage shall be applied.
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The name "Quick" shall be launched for instant payments using QR codes, which carries the logo attached to this circular, and the following must be adhered to: a. Use this name and logo in marketing and promotion activities to be implemented. b. Provide stores and establishments with this logo and place stickers and signs indicating the service.
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Provide the Palestine Monetary Authority via email (oversight@pma.ps) periodically during the first five working days of each month with the procedures of the marketing and promotional plan followed, the volume of transactions executed for the mentioned services, and the number of the bank's customers benefiting from using these services as payers and beneficiaries.
Payments Systems Department Palestine Monetary Authority
[Image of a QR code with the word QUICK written below it]
www.pma.ps Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Postal code: P6160675 | Tel: +970 2 2415310 | Fax: +970 2 2415310 | info@pma.ps