of June 22, 2011 No. 29203/1550
To the vice-president
Internet of Association of Kazakhstan
To Sabirov Sh. U.
National Bank of the Republic of Kazakhstan, having considered your letter No. 18 of June 13, 2011 concerning electronic money, reports the following.
On the first question.
The so-called system of advance payments given in your letter which activities consist in acceptance of payments from the population for benefit of service providers is not and cannot be carried by determination to electronic payment system. Work of similar system is not connected with operator function on issuance and servicing of transactions with electronic money in any way.
For the purpose of complete understanding of distinctive features in works of the specified systems we note that the so-called system of advance or instant payments provides acceptance (collection) of payments from consumers for benefit of service providers and finishing information on each carried-out payment to the relevant service provider for the subsequent accounting (reflection) in its billing system. At the same time, information on the accepted payment or the carried-out payment transferred by similar system to the service provider (after acceptance of money from the consumer) cannot be equated to electronic money. At the same time, forming and transfer by system of such information (the electronic message) also does not mean carrying out the payment and does not guarantee its completion. The payment on the operations performed in the specified system is made (comes to the end) by means of real money by transfer to the bank account of the service provider.
In addition we note that electronic money represents the independent instrument of payment and acts as object of the civil laws. Their input in the address can be performed by the corresponding issuer (bank) having on it legitimate right and power according to the legislation of the Republic of Kazakhstan (after release of the relevant law).
On the second question.
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