of April 28, 2025 No. 86
About introduction of amendments to the Law of the Kyrgyz Republic "About payment system of the Kyrgyz Republic"
Accepted by Jogorku Kenesh of the Kyrgyz Republic on March 13, 2025
Bring in the Law of the Kyrgyz Republic "About payment system of the Kyrgyz Republic" (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2015, No. 1, the Art. 21) the following changes:
1) in Article 2:
a) state Item 2 in the following edition:
"2) the acceptor of electronic money (acceptor) - the legal entity, and also the individual entrepreneur who according to the signed contract with the issuer of electronic money or the agent on distribution of electronic money accepts electronic money for payment of goods or services with provision of the documents confirming making of transactions with electronic money;";
b) add Item 3 with the offer third the following content: "Clearing settlement can be carried out with use of two-dimensional symbols of barcode (payment QR code) and other technologies of wireless data transmission by write-off from the bank account or personal account of e-wallet and other sources of money according to requirements of this Law and regulatory legal acts of National Bank;";
c) add with Item 13-1 of the following content:
"13-1) payment QR code - two-dimensional symbol of barcode for transfer of payment data;";
d) state Item 22 in the following edition:
"22) the issuer of electronic money - the legal entity having the right of release of electronic money in the address according to the bank law of the Kyrgyz Republic and assuming the unconditional and irrevocable obligation on repayment of the issued electronic money to the holders showing electronic money to repayment;";
e) add with Item 22-1 of the following content:
"22-1) payment card issuer - the legal entity having the right of the payment card issue according to the bank law of the Kyrgyz Republic;";
e) add with Item 24 following of content:
"24) NFC (near field communication) - wireless technology of data transmission for contactless payments.";
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Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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