Regulatory Alerts2021-01-01
Instructions No. 4 on Prepaid Payment Card Issuance Services by Payment Service Companies
The Palestine Monetary Authority issued Instructions No. 4 of 2021 to regulate the secure and transparent issuance of prepaid payment cards by licensed payment service companies. The directive defines open, semi-closed, and closed card categories, mandates EMV compliance for open and semi-closed cards, and imposes strict operational limits, including a $200 maximum stored value for closed cards and specific refund and expiration protocols. It repeals the previous 2020 instructions and takes immediate effect upon issuance on June 30, 2021.
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