RESOLUTION OF NATIONAL BANK OF THE REPUBLIC OF MOLDOVA

of February 12, 2025 No. 28

About approval of Regulations about outsourcing of functions by non-bank payment service providers

Based on part (5) Art. 28 and parts (11) Art. 30 of the Law on payment services and electronic money No. 114/2012 (Monitorul Oficial al Republicii Moldova, 2012, No. 193-197, the Art. 661), with subsequent changes, the Executive committee of National Bank of Moldova DECIDES:

1. Approve Regulations about outsourcing of functions by non-bank payment service providers it (is applied).

2. This resolution becomes effective from the date of publication in Monitorul Oficial al Republicii Moldova.

3. Within 6 months from the date of entry into force of this resolution to the payment societies / suppliers of post services / societies issuing electronic money to update and provide to National Bank of Moldova agreements of outsourcing according to the regulations specified in Item 1, and to review and provide to National Bank of Moldova the internal regulations concerning assessment, management and control of outsourcing functions.

4. Notifications, statements and documents submitted to National Bank of Moldova, and not solved on the date of entry into force of this resolution are considered and permitted according to provisions of the regulations specified in Item 1, on condition of their creation by non-bank payment service providers within no more than 30 days from the date of entry into force of this resolution. Notifications, statements and documents are considered according to the term established in Item 19 of the regulations specified in Item 1, calculated from the date of representation of complete document package. If notifications, statements and documents are not constituted during the specified term, the National Bank of Moldova reports to the applicant about the termination of ministerial procedure.

Approved by the Resolution of National Bank of the Republic of Moldova of February 12, 2025 , No. 28

Regulations about outsourcing of functions by non-bank payment service providers

These Regulations shift EBA/GL/2019/02 Management on outsourcing approved by the European bank body.

Chapter I. General provisions

1. The regulations about outsourcing of functions by non-bank payment service providers (further - Regulations) extend to payment societies, suppliers of post services which are effective according to the Law on mail service No. 36/2016 (further - suppliers of post services), and the societies issuing electronic money for the purpose of regulation of the minimum requirements to the agreement of outsourcing, method of administration of the risks connected with outsourcing and carrying out audit of outsourcing functions

2. The terms and expressions used in these Regulations have the values provided by the Law on payment services and electronic money No. 114/2012 (further - the Law No. 114/2012). In addition for the purposes of these regulations the following reducings and concepts are used:

CISA (The certificate of the auditor of information systems) - the certified auditor in the field of information systems, the certification issued by Association on audit and control of information systems (ISACA), the international professional association oriented to management of IT.

CISSP - the certification issued by the International consortium on certification of safety of information systems (ISC).

Outsourcing - the agreement between payment society / supplier of post services / the society issuing electronic money and the service provider based on whom the service provider carries out process provides service or performs activities which will be performed otherwise by payment society / supplier of post services / the society issuing electronic money.

Chain outsourcing (sub contracting) - situation in which the service provider within the agreement of outsourcing transfers outsourcing function to other service provider.

Function - any processes, services or types of activity.

The service provider - the third organization which carries out process delivers service or carries out outsourcing activities or its part, within the agreement on outsourcing.

The non-bank payment service provider - payment society, the supplier of post services or the society issuing electronic money which has the right to provide payment services according to Art. 4 and 7 of the Law No. 114/2012.

QSA (the skilled expert in safety) - the certification issued by Security standards council of data of the industry of payment cards (PCI SSC).

3. Outsourcing is performed including according to the regulations connected with outsourcing process, the civil legislation, legislation provisions in the field of personal data protection, the competition, the prevention and anti-money laundering and terrorism financing.

4. Outsourcing is performed according to pro-rata rule according to which it is guaranteed that activities administration mechanisms, including those which are connected with outsourcing will be approved with individual profile of risk, with nature and business model of non-bank payment service providers, and also with scale and complexity of their activities effectively to achieve the objectives of the requirements following from the regulatory base.

5. In case of application of provisions of these Regulations non-bank payment service providers shall consider complexity of the functions transferred on the outsourcing, risks resulting from the agreement of outsourcing, significant nature of function on outsourcing and potential influence of outsourcing on continuity of their activities.

6. It is not considered transferred to outsourcing:

6.1. function which according to regulations shall be performed by the service provider, including external audit;

6.2. services of market information, including provision of information of Bloomberg, Moody "s, Standard & Poor" s etc.;

6.3. the types of activity performed by global network infrastructures of payment systems payment cards (for example, Visa, MasterCard);

6.4. services of clearing and settlement systems or other similar structures for ensuring the clearing and settlement services between Clearing Houses, the central partners (partners) and organizations making calculation, on the one hand, and their members, on the other hand;

6.5. the activities performed through global infrastructures of exchange of financial messages which are subject to supervision from relevant organs, including SWIFT;

6.6. correspondent banking services;

6.7. Purchase of services which differently will not be performed by the non-bank payment service provider (for example, consultation by the architect, provision of the legal conclusions and representation in court and administrative authorities, cleaning service, to gardening and content of rooms, medical services, services in maintenance of official cars, services of public catering, service of automatic distribution of products, administrative services, services of travel agency, service in registration, services of administrators, secretaries and operators of telephone exchanges), goods (for example, payment cards, readers of payment cards, office supplies, personal computers, furniture) or utilities (for example, electricity, gas, water, telephony);

6.8. the activities/transaction which are not assuming access for service providers to information on non-bank payment service providers who represent confidential information on clients and their activities or information on the activities which are carried out by the non-bank payment service provider.

7. The function connected with payment service is considered significant if emergence of complexity or failure in process of its accomplishment:

7.1. considerably will cause damage to capability of the non-bank payment service provider to comply with conditions of licensing or other obligations according to the Law No. 114/2012;

7.2. considerably will affect financial performance, stability of the non-bank payment service provider or continuity of provision of payment services / accomplishment of activities for release of electronic money.

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