Article 1. The basic concepts used in this Law are the Law on Payments and Payment Systems

Home / RLA / Article 1. The basic concepts used in this Law are the Law on Payments and Payment Systems

 The following basic concepts are used in this Law:

1) current account – a bank account opened by a bank or an organization performing certain types of banking operations on the basis of a bank account agreement;

2) information banking services – services provided by a payment service provider servicing the client's bank account to provide the client or a third party with information on the balances and (or) movement of money in his bank account, on payments and (or) money transfers made on this account, and other information on at the request of the client or under an agreement concluded between the client and the payment service provider;

3) money transfer system – a payment system through which money transfers are carried out using the software of the operator of this system, with which a bank or an organization performing certain types of banking operations has concluded an agreement for making payments and (or) money transfers.;

4) money transfer – the consistent execution by the payment service provider of the client's instructions on the transfer of money related to the payment or other purposes;

5) money sender – the person at whose expense the payment and (or) money transfer is carried out;

6) the money sender's bank is a bank or organization that performs certain types of banking operations that serve the money sender;

7) permanent order of the money sender – an order from the money sender to the money sender's bank to make regular payments and (or) money transfers in favor of one or more beneficiaries on his behalf in accordance with the terms and details specified in this order;

7-1) a member bank of the Astana International Financial Center is a member of the Astana International Financial Center, licensed by the Astana International Financial Center Committee on Financial Services Regulation to provide deposit acceptance services and (or) open and maintain bank accounts on the territory of the Astana International Financial Center;

7-2) payment transaction with signs of fraud – a payment and (or) money transfer (including an attempt to make such a payment and (or) money transfer, payment and (or) money transfer in progress) carried out as a result of actions by third parties aimed at stealing the client's money by deception or abuse of trust;

IZPI's note! Subparagraph 7-3) is provided for in the wording of the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

7-3) the data exchange center for payment transactions with signs of fraud (antifraud center of the National Bank of the Republic of Kazakhstan) is a legal entity of the National Bank of the Republic of Kazakhstan that coordinates and takes measures aimed at detecting and preventing payment transactions with signs of fraud and other payment transactions in accordance with the procedure provided for in Article 25-1 of this Law (hereinafter referred to as – anti-fraud center);

8) outsourcing – transfer by a payment service provider to third parties on the basis of a contract for the provision of paid services of information technology functions necessary to ensure the provision of payment services by a payment service provider (outsourcing agreement);

9) interbank money transfer system is a payment system designed to make payments and (or) money transfers between its participants using money held in correspondent accounts opened with the National Bank of the Republic of Kazakhstan by individually executing each instruction of its participant with the completion of money transfers during the business day;

10) the interbank clearing system is a payment system designed to make payments and (or) money transfers between its participants – banks, organizations engaged in certain types of banking operations, through multilateral clearing of instructions from participants;

11) a bank account is a method of reflecting and accounting for the movement of a client's money in a bank or an organization performing certain types of banking operations, as well as contractual relations between the client and the bank or an organization performing certain types of banking operations for banking services to the client;

12) direct debit of a bank account is the withdrawal by a bank or an organization performing certain types of banking operations of money from the sender of money and their transfer in favor of the beneficiary on the basis of the prior permission of the sender of money on such withdrawal;

13) initiator – the person who submitted the instruction for execution;

14) beneficiary – the person in whose favor the payment and (or) money transfer is carried out;

15) beneficiary's bank – a bank or organization that performs certain types of banking operations that serve the beneficiary;

16) value date – the date indicated by the initiator of the payment and/or money transfer in the payment document, when the money must be credited to the beneficiary's bank account.;

17) registration – the inclusion of a payment organization in the register of payment organizations;

18) savings account – a bank account opened by a bank or an organization performing certain types of banking operations on the basis of a bank deposit agreement;

19) consolidated payment order is a payment order used to make a payment and (or) transfer money from one sender of money to several beneficiaries serviced by one bank, or from several senders of money serviced by one bank to one beneficiary.;

20) sender – the sender of the money or the beneficiary who gives instructions;

21) assessment of the functioning of a systemically significant or significant payment system – a set of measures carried out by the operator of the payment system, the operational center of the payment system, the National Bank of the Republic of Kazakhstan or international financial organizations in order to determine the compliance of this payment system with international standards;

22) monitoring of systemically important payment systems is the process of tracking and monitoring systemically important payment systems carried out by the National Bank of the Republic of Kazakhstan in order to manage, minimize and predict risks arising from payments and (or) money transfers, as part of the supervision (oversight) of payment systems;

23) systemically important payment system is a payment system whose uninterrupted operation contributes to the stable functioning of the financial market of the Republic of Kazakhstan and whose shutdowns (failures) may lead to risks in the financial market of the Republic of Kazakhstan.;

24) collection order – a payment document used to withdraw money from the sender's bank account without his consent;

25) client – an individual or legal entity, a branch or representative office of a legal entity receiving a payment service;

26) clearing is the process of collecting, reconciling and offsetting mutual monetary claims and obligations, as well as determining the net positions of participants in this process;

27) correspondent account – a bank account of a bank or an organization performing certain types of banking operations, opened on the basis of a correspondent account agreement to perform operations of the bank or an organization performing certain types of banking operations and its (her) clients;

28) payment service provider – a payment services market entity providing a payment service;

29) third–party payment service provider - a payment service provider that does not service the client's bank account and provides electronic banking services to the client through its own remote access systems;

30) a significant payment service provider is a payment service provider that meets the criteria established by this Law.;

31) payment services market – a set of relations related to the provision and use of payment services, as well as the issuance and use of payment instruments;

32) state control and supervision of the payment services market (control and supervision of the payment services market) – the activities of the National Bank of the Republic of Kazakhstan and the authorized body for regulation, control and supervision of the financial market and financial organizations aimed at exercising, within their competence, control over the activities of payment service providers in compliance with the requirements of the legislation of the Republic of Kazakhstan on payments and payment systems;

33) payment service – a service provided by a payment service provider to a customer in accordance with Article 12 of this Law;

34) remote access system – a set of telecommunications, digital and information technologies, software and equipment that provide communication between the client and the payment service provider to receive electronic banking services;

35) payment subagent – a legal entity or individual entrepreneur who has concluded an agency agreement with a payment agent for the provision of payment services;

35-1) instant payment system – a payment system designed for round-the-clock payments and (or) money transfers between its participants, using money held in the National Bank of the Republic of Kazakhstan, providing instant money transfer in favor of the beneficiary of the payment and (or) money transfer;

35-2) mobile payments – non-cash payments initiated in electronic form in favor of an individual registered as an individual entrepreneur, a person engaged in private practice, or a legal entity in payment for the purchase of goods, performance of work, or provision of services received through a mobile application or other equipment (device) intended for receiving payments using a barcode;

36) instruction – an instruction from the initiator of the payment and (or) money transfer to the payment service provider on making the payment and (or) money transfer, which is expressed in the form of an order, request, or consent from the client when using an electronic payment method or remote access system;

37) operational day – the period of time during which instructions, orders to suspend the execution of instructions or revoke such instructions are received and processed by the payment system operator or the payment service provider.;

38) another payment system is a payment system that is not a systemically significant or significant payment system.;

39) identification means – an electronic digital signature of the sender of the instruction or a unique identifier consisting of a combination of letters, numbers or symbols, or another identifier (personal password, one-time (one-time) identification code, biometric identification means) established by the payment service provider to identify the customer and agreed with him;

40) net position is the value of the difference between the sum of the instructions of all participants in the payment system directed in favor of one participant in the payment system and the sum of the instructions of this participant in the payment system directed in favor of the other participants in the payment system, in the case when settlements in the payment system are carried out by multilateral clearing of instructions from participants in the payment system. If the net position value is negative, the participant has a debit net position, and if the net position value is positive, a credit net position.;

41) payment – fulfillment of a monetary obligation using cash and (or) payment instruments;

42) payment agent – a legal entity or an individual entrepreneur who has concluded an agency agreement for the provision of payment services with a bank or an organization engaged in certain types of banking operations or a payment organization;

43) participants in payment and (or) money transfer – individuals and legal entities, branches and representative offices of legal entities that have the rights and (or) obligations to pay and (or) transfer money;

44) supervision (oversight) of payment systems is the activity of the National Bank of the Republic of Kazakhstan, carried out in order to ensure the effective, safe and uninterrupted functioning of payment systems;

45) payment system – a set of relations that ensure the implementation of payments and (or) money transfers through the interaction of the payment system operator and (or) participants in the payment system through the application of procedures, infrastructure and rules established by the operator of the payment system;

46) a participant in the payment system is a bank or an organization performing certain types of banking operations that has concluded an agreement with the payment system operator on participation in the payment system, as well as a payment organization in the case provided for by this Law.;

47) self–assessment of the functioning of the payment system - a set of measures carried out by the operator of the payment system, the operational center of the payment system in order to determine the compliance of this payment system with international standards;

48) payment system infrastructure – a set of facilities, resources and technologies that ensure the functioning of the payment system;

49) payment system operator – a legal entity engaged in activities to ensure the functioning of the payment system and fulfilling the obligations established by this Law related to such activities;

50) the operational center of the payment system is a legal entity entrusted by the operator of the payment system with the implementation of operational and technological functions on the basis of an agreement concluded between this legal entity and the operator of the payment system, or by delegating authority to it if the operator of the payment system in relation to this legal entity performs the functions of regulating its activities and making decisions about the change in the legal status of the named organization;

51) payment card is a means of electronic payment that contains information that allows its holder to make payments and (or) money transfers through electronic terminals or other communication channels, or receive cash, or perform currency exchange and other operations determined by the issuer of the payment card and on its terms;

52) issuance of a payment card is a payment service providing for the issuance of a payment card to a payment card holder;

53) the issuer of the payment card is a bank or a National Postal Operator that issues payment cards.;

54) payment document – a document drawn up on paper or formed in electronic form, on the basis of or with the help of which payment and (or) money transfer are carried out;

55) payment instrument – a payment document or a means of electronic payment, on the basis of or using which a payment and (or) money transfer are carried out;

56) completion (finality) of the payment and (or) money transfer – the time at which the obligation of the participant in the payment and (or) money transfer is considered fulfilled;

57) payment order is a payment document used in making payments and (or) money transfers between a client and a bank serving him or an organization performing certain types of banking operations, and (or) servicing the client's bank account.;

58) payment request – a payment document submitted by the beneficiary or the beneficiary's bank to the sender's bank for the payment of the amount of money specified in the payment document from the sender's bank account;

59) payment order – a payment document providing for the indication of the sender of money to his bank or an organization performing certain types of banking operations about the transfer of the amount of money specified in this payment document in favor of the beneficiary;

60) register of payment organizations – a single list of payment organizations that have been registered;

61) payment organization is a legal entity of the Republic of Kazakhstan established in the organizational and legal form of a limited liability partnership, which, in accordance with this Law, is authorized to carry out activities for the provision of payment services.;

62) payment notice – a payment document used in making payments and (or) money transfers without opening a bank account and containing an instruction from the sender of the money to a bank serving him or an organization performing certain types of banking operations to transfer money in favor of the beneficiary in the amount specified in the payment document;

63) a check is a payment document containing a written order from the check giver to a servicing bank or an organization engaged in certain types of banking operations to pay the amount of money specified in this order to the check holder.;

64) check giver – the person who wrote the check;

65) cheque holder – the person in whose favor the cheque was issued, including the cheque giver, if the cheque was written by him for himself;

66) foreign payment system – a payment system operated by a non-resident of the Republic of Kazakhstan;

67) electronic money – unconditional and irrevocable monetary obligations of the issuer of electronic money, stored in electronic form and accepted as a means of payment in the electronic money system by other participants of the system;

68) electronic money system – a set of software and hardware, documentation and organizational and technical measures that ensure payments and other transactions using electronic money through the interaction of the operator of the electronic money system with the issuer of electronic money and (or) the owners of electronic money;

69) an agent of the electronic money system (hereinafter referred to as the agent) is a bank, an organization engaged in certain types of banking operations, a National Postal Operator and a payment agent engaged in the acquisition of electronic money from the issuer and its owners, individuals, for their subsequent sale to individuals on the basis of an agreement concluded with the issuer of electronic money or the system operator electronic money;

70) the operator of the electronic money system is a bank, an organization performing certain types of banking operations, or a payment organization that ensures the functioning of the electronic money system, including the collection, processing and transmission of information generated during transactions using electronic money, as well as defining the rules for the functioning of the electronic money system in accordance with an agreement concluded with the issuer by (issuers of) electronic money;

70-1) an electronic electronic money wallet (hereinafter referred to as an electronic wallet) is a method of accounting and storing electronic money, ensuring their disposal;

71) electronic money repayment is a payment service providing for the exchange by an electronic money issuer of electronic money issued by it, presented by the owner of electronic money or exchanged without their presentation by the owner in cases provided for by the laws of the Republic of Kazakhstan, for an amount of money equal in face value.;

72) the use of electronic money is the transfer of electronic money by its owner to another participant in the electronic money system for the purpose of making payments on civil law transactions and (or) other transactions related to the transfer of ownership of electronic money;

73) the issue of electronic money is a payment service providing for the issuance of electronic money by an electronic money issuer to an individual or agent by exchanging for an amount of money equal in face value.;

74) electronic money issuer is a payment service provider that has the right to issue and redeem electronic money in accordance with this Law.;

75) electronic banking services – services related to the client's access to his bank account through remote access systems for receiving payment services and information banking services;

76) an electronic terminal is an electronic and mechanical device designed for making payments and (or) money transfers, or operations for accepting and (or) issuing cash, or for carrying out exchange operations with foreign currency, or for carrying out other types of operations, as well as the formation of appropriate supporting documents;

77) means of electronic payment – a payment card or other electronic medium containing information that allows the sender of money, who is authorized to make a payment and (or) transfer money, to initiate a payment and (or) transfer money, as well as to carry out other operations stipulated by the agreement between him and the issuer of the electronic payment;

78) holder of an electronic payment facility is an individual who uses or owns an electronic payment facility in accordance with the terms of an agreement concluded with the issuer of the electronic payment facility;

79) the issuer of an electronic payment instrument is a legal entity that issues an electronic payment instrument.;

80) an escrow account is a current or savings account opened by the client in the name of a third party with a restriction on the right of this person to perform spending operations on the bank account before the occurrence or fulfillment of the conditions determined by the client.

The Law of the Republic of Kazakhstan dated July 26, 2016 No. 11-VI SAM.

This Law regulates public relations arising in the field of organization and functioning of payment systems, regulation of payment systems and supervision (oversight) of them, regulation of the payment services market and control over it, as well as the implementation of payments and (or) money transfers in the Republic of Kazakhstan.

President

Republic of Kazakhstan

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