Regulatory Alerts2023-01-01
Instructions No. (8) of 2023 Regarding the Issuance of QR Codes
The Palestine Monetary Authority issued Instructions No. 8 of 2023 to regulate the issuance and use of QR codes by payment service providers under unified technical standards. The Instructions mandate that issuing members provide automatic, instant QR code issuance without charging fees, while ensuring data protection and risk management. Furthermore, the regulations cover static and dynamic QR codes for electronic payments, cash transactions, and paper check issuance, applying to all members within sixty days of publication.
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