Regulatory Alerts2023-01-01
PMA Instructions No. 2 of 2023 on the Issuance of QR Codes
The Palestine Monetary Authority issued Instructions No. 2 of 2023 to standardize the issuance and use of QR codes across all payment service providers. The regulations mandate that issuing members provide automated, fee-free QR code issuance while adhering to unified technical specifications and data protection mechanisms. Furthermore, the Instructions define permissible use cases—including electronic payments, cash deposits and withdrawals, and paper checks—and grant the Authority prior approval power for additional use scenarios.
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