Resolution of the Board of the National Bank of the Republic of Kazakhstan No. 112 of 21 September 2020 on Amendments and Additions to Certain Resolutions of the Board of the National Bank of the Republic of Kazakhstan on Improving the Regulation of Payment Services Market Entities

«NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN»	[pic]	REPUBLICAN STATE INSTITUTION «NATIONAL BANK OF THE REPUBLIC OF KAZAKHSTAN»
RESOLUTION OF THE BOARD		RESOLUTION OF THE BOARD
21 September 2020		No. 112
Nur-Sultan city		Nur-Sultan city

On Amendments and Additions to Certain Resolutions of the Board of the National Bank of the Republic of Kazakhstan on Improving the Regulation of Payment Services Market Entities	Registered by the Ministry of Justice of the Republic of Kazakhstan on 25 September 2020 No. 21271

In accordance with Article 15 of the Law of the Republic of Kazakhstan of 30 March 1995 «On the National Bank of the Republic of Kazakhstan», for the purpose of implementing the Law of the Republic of Kazakhstan of 3 July 2020 «On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Foreign Currency Mortgage Loans, Improving the Regulation of Payment Services Market Entities, Universal Declaration and Restoration of Economic Growth», the Board of the National Bank of the Republic of Kazakhstan RESOLVES:

1. To approve the List of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan to which amendments and additions are made on improving the regulation of payment services market entities, according to the annex to this resolution.
2. The Payment Systems Department shall, in the manner established by the legislation of the Republic of Kazakhstan, ensure:
   1) together with the Legal Department, state registration of this resolution with the Ministry of Justice of the Republic of Kazakhstan;
   2) placement of this resolution on the official internet resource of the National Bank of the Republic of Kazakhstan after its official publication;
   3) within ten working days after state registration of this resolution, submission to the Legal Department of information on the implementation of the measures provided for by subparagraph 2) of this paragraph and paragraph 3 of this resolution.
3. The Information and Communications Department - press service of the National Bank of the Republic of Kazakhstan shall ensure, within ten calendar days after state registration of this resolution, sending its copy for official publication to periodical printed publications.
4. Control over the execution of this resolution shall be assigned to the Deputy Chairman of the National Bank of the Republic of Kazakhstan Birtanov Ye.A.
5. This resolution shall enter into force upon the expiry of ten calendar days after the day of its first official publication.

Chairman of the National Bank of the Republic of Kazakhstan
	Ye. Dosayev

Annex
to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 21 September 2020 No. 112

List of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan to which amendments and additions are made on improving the regulation of payment services market entities

1. To make the following amendments and additions to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 August 2016 No. 202 «On approval of the Rules for the issuance, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan» (registered in the Register of state registration of normative legal acts under No. 14298, published on 28 October 2016 in the information and legal system «Adilet»):
in the Rules for the issuance, use and redemption of electronic money, as well as requirements for electronic money issuers and electronic money systems in the territory of the Republic of Kazakhstan, approved by the said resolution:
subparagraph 7) of paragraph 2 shall be excluded; to be supplemented with paragraph 22-1 of the following content:
«22-1. The issuer and (or) the operator, before an individual makes a payment and (or) transfer using electronic money, shall notify the said individual of the opening of an electronic wallet for him in the electronic money system, indicating the identification code of the electronic wallet.»; paragraphs 23 and 24 shall be set out in the following wording:
«23. Payments and other operations using electronic money shall be carried out by transferring electronic money by its holder from his electronic wallet to the electronic wallet of an identified electronic money holder, subject to compliance with the security procedures against unauthorized access established by the internal rules of the electronic money system or by agreements concluded between the participants of the electronic money system.
24. After making a payment using electronic money, the holder thereof shall be issued a sales receipt confirming the fact of the operation using electronic money, in the form of an electronic message or on paper (hereinafter - the sales receipt).
The sales receipt contains the following details:
1) the amount of the payment;
2) the time and date of the payment;
3) the sequential number of the sales receipt;
4) the name (code) and individual identification number, business identification number of the individual entrepreneur or legal entity;
5) the transaction code or another code identifying the payment in the electronic money system;
6) the identification code of the electronic wallet of the electronic money holder;
7) the contact telephone numbers of the operator, including mobile communication numbers.
Reflection of additional details in the sales receipt is allowed.»; to be supplemented with paragraph 24-1 of the following content:
«24-1. After making a transfer of electronic money, the holder thereof shall be issued a document confirming the fact of the operation using electronic money, in the form of an electronic message or on paper.»; paragraph 25 shall be set out in the following wording:
«25. Transfer of electronic money between participants of the electronic money system is allowed, where the recipients of electronic money are identified electronic money holders of both one and several issuers within one electronic money system.»; paragraph 28 shall be set out in the following wording:
«28. The issuer shall ensure compliance with the restrictions established by paragraph 5 of Article 42 and paragraph 4 of Article 44 of the Law on payments and payment systems on the amount of acquisition of electronic money for unidentified electronic money holders, the amount of storage of electronic money in the electronic wallet and the total amount of electronic money used through the electronic wallet.»; paragraph 30 shall be set out in the following wording:
«30. In the event of refusal by the electronic money holder of the object of a civil law transaction acquired using electronic money and acceptance of such refusal by an individual entrepreneur or legal entity, the electronic money shall be returned to the electronic money holder-payer to his electronic wallet or he shall be reimbursed the amount of money equivalent to the amount of electronic money. The methods, procedure and terms of making such a payment shall be established by the internal rules of the electronic money system.»; paragraph 37 shall be set out in the following wording:
«37. When an individual entrepreneur and (or) legal entity accepts electronic money from an electronic money holder as payment for civil law transactions, the issuer shall redeem it in the manner and within the terms established by paragraph 8 of Article 44 of the Law on payments and payment systems.»; to be supplemented with Chapter 4-1 of the following content:
«Chapter 4-1. Termination of operations using electronic money issued by an issuing bank deprived of a licence and (or) an annex to a licence, or whose licence has been suspended 41-1. From the date of suspension or deprivation of the licence and (or) annex to the licence of the issuing bank, the operator shall terminate operations using electronic money issued by the said issuer, and shall also inform electronic money holders thereof through the internet resource of the electronic money system (if any) and the personal account of the electronic money holder, mass media, by sending short text and (or) multimedia messages to the email address and (or) to the mobile communication device indicated by the electronic money holder. 41-2. The operator is allowed to buy back, at its own expense, electronic money issued by an issuing bank deprived of a licence and (or) an annex to a licence, or whose licence has been suspended, from electronic money holders - individuals. The operator shall be reimbursed the total amount of bought-back electronic money held in its electronic wallet, in accordance with the order of satisfaction of creditors' claims of a liquidated bank established by the Law of the Republic of Kazakhstan of 31 August 1995 «On banks and banking activity in the Republic of Kazakhstan.»; to be supplemented with Chapter 6 of the following content:
«Chapter 6. Remote and simplified identification of an electronic money holder - an individual
50. Remote identification of an electronic money holder - an individual shall be carried out by the issuer and (or) the operator on the basis of information from available sources obtained from the operational centre of the interbank money transfer system, in the manner and on the grounds provided for by the Rules for the provision by banks and organizations carrying out certain types of banking operations of electronic banking services, approved by the resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 August 2016 No. 212 (registered in the Register of state registration of normative legal acts under No. 14337).
51. Identification of an electronic money holder - an individual by a simplified method shall be carried out by the issuer and (or) the operator by conducting a video conference session or by capturing the image of the client using a specialized application implementing the technology for detecting the movement of the interviewee during identification.
Simplified identification shall be carried out by the issuer and (or) the operator through its official internet resource and (or) mobile application.
The issuer and (or) the operator is allowed to use devices of other individual entrepreneurs and legal entities for conducting simplified identification of an electronic money holder - an individual on the basis of a concluded agreement, subject to compliance with the requirements of paragraphs 52, 53 and 54 of these Rules.
52. During simplified identification, the issuer and (or) the operator shall ensure:
1) full capture of the person of the electronic money holder - an individual and his identity document;
2) obtaining from open sources confirmation of the individual identification number of the electronic money holder - an individual.
The issuer and (or) the operator is allowed to establish additional requirements or control questions during simplified identification, if such requirements and questions are provided for by the internal rules of the electronic money system.
53. The issuer and (or) the operator, for conducting simplified identification, shall ensure the use of licensed software aimed at maintaining the state of confidentiality, integrity and availability of information.
54. The issuer and (or) the operator shall make a decision on identifying an electronic money holder - an individual by a simplified method on the basis of the procedures provided for by the internal rules of the electronic money system and agreements concluded between the operator and (or) the issuer and the electronic money holder.».
2. To make the following amendments to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 August 2016 No. 221 «On approval of the Rules for maintaining the register of payment systems» (registered in the Register of state registration of normative legal acts under No. 14297, published on 24 October 2016 in the information and legal system «Adilet»):
in the Rules for maintaining the register of payment systems approved by the said resolution:
subparagraph 1) of paragraph 12 shall be set out in the following wording:
«1) independently based on the results of the analysis of the functioning of payment systems conducted at the end of the calendar year;»; appendices 1 and 5 shall be set out in the wording according to appendices 1 and 2 to this List of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan to which amendments and additions are made on improving the regulation of payment services market entities.
3. To make the following amendment to the resolution of the Board of the National Bank of the Republic of Kazakhstan of 31 August 2016 No. 222 «On approval of indicators of criteria of significant payment systems» (registered in the Register of state registration of normative legal acts under No. 14303, published on 28 October 2016 in the information and legal system «Adilet»):
paragraph 1 shall be set out in the following wording:
«1. To approve the following indicators of criteria of significant payment systems:
1) when making through the payment system payments and (or) money transfers in the national currency in the territory of the Republic of Kazakhstan during the year in the amount of not less than twenty-five percent of the total volume of such payments and (or) money transfers minus the volume of payments and (or) money transfers made in the national currency in the territory of the Republic of Kazakhstan during the year through systemically important payment systems;
2) when making through the payment system payments and (or) money transfers in foreign currency in the territory of the Republic of Kazakhstan during the year in the amount of not less than twenty-five percent of the total volume of such payments and (or) money transfers;
3) when making through the payment system international payments and (or) money transfers during the year in the amount of not less than twenty-five percent of the aggregate volume of payments and (or) money transfers sent from the Republic of Kazakhstan abroad and received in the Republic of Kazakhstan from abroad;
4) when making through the payment system payments and (or) money transfers during the year for money transfer systems in the amount of not less than twenty-five percent of the aggregate volume of payments and (or) money transfers sent through money transfer systems across the Republic of Kazakhstan and abroad and received in the Republic of Kazakhstan through money transfer systems from abroad;
5) when making through the payment system interbank payments for settlements with payment cards during the year in the amount of not less than twenty-five percent of the total volume of such payments;
6) when the following two conditions are simultaneously met:
upon reaching at the beginning of the calendar year the number of payment cards issued within the given payment system of twenty-five percent of the total number of payment cards in circulation; when making through the payment system during the calendar year operations in the amount of not less than twenty-five percent of the total volume of payments using payment cards.».

Appendix 1
to the List of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan to which amendments and additions are made on improving the regulation of payment services market entities

Appendix 1
to the Rules for maintaining the register of payment systems

Form

National Bank of the Republic of Kazakhstan

Information on the creation in the territory of the Republic of Kazakhstan of its own payment system or the commencement of functioning in the territory of the Republic of Kazakhstan of a foreign payment system ______ (name, business identification number (if any) of the payment system operator)

hereby reports the creation in the territory of the Republic of Kazakhstan of its own payment system/commencement of functioning in the territory of the Republic of Kazakhstan of a foreign payment system (strike out what is not needed) ______ (name of the payment system) from ______ (date of commencement of functioning of the payment system in the territory of the Republic of Kazakhstan - the date of entry into force of the agreement concluded by the payment system operator with the first participant of the payment system).

1. Name, postal address and location of the payment system operator:

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(postal code, city (region), district, street, house (office) number) ______ ______ ______ (telephone, fax, email address (if any))
2. Information on the domain name of the internet resource of the payment system operator where the documents provided for by paragraph 4 of Article 5 of the Law of the Republic of Kazakhstan of 26 July 2016 «On payments and payment systems» are posted

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(internet resource)
3. List of documents submitted in accordance with paragraph 5 of Article 5 of the Law of the Republic of Kazakhstan of 26 July 2016 «On payments and payment systems»:
1) ______;
2) ______
4. Information on participants of the payment system - residents of the Republic of Kazakhstan (with attachment of copies of agreements on participation in the payment system)

---

---

I confirm that the attached information has been verified by me and is reliable and complete.
I consent to the use of information constituting a legally protected secret contained in information systems.

First head of the payment system operator or person authorized to sign ______ ______ surname, name, patronymic (if any) signature

Appendix 2
to the List of certain resolutions of the Board of the National Bank of the Republic of Kazakhstan to which amendments and additions are made on improving the regulation of payment services market entities

Appendix 5
to the Rules for maintaining the register of payment systems

Form

National Bank of the Republic of Kazakhstan

Information on participation in a payment system, including in a foreign payment system ______ (name, business identification number of the bank or organization carrying out certain types of banking operations)

1) Name of the payment system:

---

---

2) ______ (date of conclusion of the agreement on participation in the payment system, including in a foreign payment system)
3) Payment system operator:

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---

(name, business identification number (if any) of the payment system operator) Postal address and location of the payment system operator:

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---

---

(postal code, city (region), district, street, house (office) number) ______ ______ ______ (telephone, fax, email address (if any))
4) Information on the domain name of the internet resource of the payment system operator where the documents provided for by paragraph 4 of Article 5 of the Law of the Republic of Kazakhstan of 26 July 2016 «On payments and payment systems» are posted

---

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(internet resource)
5) Copy (copies) of the agreement (agreements) on the basis of which participation in the payment system, including in a foreign payment system, is carried out:
1) ______;
2) ______
I confirm that the attached information has been verified by me and is reliable and complete.
I consent to the use of information constituting a legally protected secret contained in information systems.

First head of the bank or organization carrying out certain types of banking operations or person authorized to sign ______ ______ surname, name, patronymic (if any) signature