RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of September 16, 2022 No. 350

About approval of Rules of implementation of transactions with electronic money

Based on subitems 3. 3, 3.4 Items 3 of Article 4, of subitem 5.1 of Item 5 of Article 16, of Item 6 of article 48 of the Law of the Republic of Belarus of April 19, 2022 No. 164-Z "About payment systems and payment services", parts one of article 39 of the Bank code of the Republic of Belarus DECIDES: Board of National Bank of the Republic of Belarus

1. Approve Rules of implementation of transactions with electronic money (are applied).

2. Determine that the agreements signed before entry into force of this resolution on implementation of transactions with electronic money are not subject to reduction in compliance with requirements of Rules of implementation of the transactions with electronic money approved by this resolution and are effective before execution of all obligations by the parties on them. At the same time in case of prolongation (increase) of effective period of such agreements of their provision are subject to reduction in compliance with requirements of the called Rules.

3. This resolution becomes effective since November 25, 2022.

Approved by the Resolution of Board of National Bank of the Republic of Belarus of September 16, 2022 No. 350

Rules of implementation of transactions with electronic money

Section I. General provisions

1. These rules establish requirements to rendering payment services on transactions with electronic money in the territory of the Republic of Belarus, determine for payment service providers by transactions with electronic money (further, unless otherwise specified, - suppliers of electronic money) compulsory provisions of the agreements signed with users of payment services regulate procedure of transactions with electronic money.

Notaries perform transactions with electronic money according to the procedure, established by these rules for holders of electronic money (further, unless otherwise specified, - holders) - legal entities, individual entrepreneurs.

Transactions with electronic money are performed according to the provisions of the law of the Republic of Belarus "About payment systems and payment services", these rules, other acts of the legislation in the field of payment systems and payment services.

Regulations of these rules are obligatory for execution when carrying out transactions with electronic money if other is not established by legal acts.

2. For the purposes of these rules following terms are used in the following values:

the identification agent - person performing financial transactions according to the legislation on measures for prevention of legalization of the income received in the criminal way, financings of terrorist activities and financing of distribution of weapons of mass destruction (further - POD/FT), other legal entity, the individual entrepreneur to whom carrying out identification of owners of e-wallets is entrusted according to the legislation on POD/FT;

the owner of e-wallet - the legal entity, the individual entrepreneur, physical person for whom e-wallets are opened;

money - Belarusian rubles and (or) foreign currency;

number of e-wallet - the unique sign of e-wallet allowing to identify e-wallet in electronic payment system;

payment activities - activities in the field of payment systems and payment services;

rules of the payment system providing implementation of transactions with electronic money (further - rules of electronic payment system), - set of the regulations established in electronic payment system and providing interaction of members of electronic payment service provider when implementing transactions with electronic money;

rules of the issuer of electronic money (further - rules of the issuer) - set of the regulations providing interaction of members of electronic payment service provider when implementing transactions with electronic money and developed by the issuer of electronic money (further, unless otherwise specified, - the issuer) according to rules of electronic payment system;

- used by the issuer - the resident or the resident - the agent on distribution of electronic money of the issuer - the resident technical and (or) the software allowing without participation or with participation of service personnel to perform the program and (or) technical tool (further - PTS) in case of issue or distribution of the electronic money emitted by resident, acceptance from physical persons of cash payments money and (or) payments in non-cash form;

technical mistake - the mistake connected with technical failure in electronic payment system or in PTS of the member of electronic payment service provider when implementing transactions with electronic money and which entailed improper execution of payment instructions of the holder (the owner of e-wallet);

unique transaction ID with electronic money - the combination of letters, figures or symbols characterizing specific transaction with electronic money;

members of electronic payment service provider are the suppliers of electronic money, other payment service providers, other subjects of payment legal relationship who signed agreements with the operator of electronic payment system on participation in electronic payment system according to rules of electronic payment system;

electronic payment system - the payment system providing implementation of transactions with electronic money.

Suppliers of electronic money are the operator of electronic payment system, the issuer of electronic money, distribution, exchange agents, to repayment of electronic money.

Physical persons for the purposes of these rules are understood as the physical persons including performing individual business activity, except for individual entrepreneurs.

The terms "currency values", "foreign banks", "nonresidents", "residents" are used in the values determined respectively by subitems 1. 4, 1.9, 1.10, 1.11 Items 1 of article 1 of the Law of the Republic of Belarus of July 22, 2003 No. 226-Z "About currency control and currency exchange control".

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