RESOLUTION OF BOARD OF NATIONAL BANK OF THE REPUBLIC OF BELARUS

of January 26, 2026 No. 20

About change of the resolution of Board of National Bank of the Republic of Belarus of September 16, 2022 No. 350

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. Bring in the Rules of implementation of transactions with electronic money approved by the resolution of Board of National Bank of the Republic of Belarus of September 16, 2022 No. 350, the following changes:

the fifth Item 2 to state part in the following edition:

"The terms "agent on exchange of electronic money", "agent on repayment of electronic money", "agent on distribution of electronic money", "bank payment card", "claimant", "holders of electronic money", "initiator of payment", "payment initiation", "use of electronic money", "exchange of electronic money", "operator of payment system", "transactions with electronic money", "payment system", "the payment aggregator", "payment instrument", "payer", "repayment of electronic money", "the receiver of payment (beneficiary)", "the user of payment service", "payment service provider", "payment service providers on transactions with electronic money", "pre-paid card", "distribution of electronic money", "subjects of payment legal relationship", "the financial organizations", "electronic money", "e-wallet", "issue of electronic money", "the issuer of electronic money" are used in the values determined respectively in paragraphs five, the sixth, fourth part two of Item 1 of Article 16, Item 1 of Article 45, subitem 1.7 of Item 1 of Article 2, item 4 of Article 48, subitem 1.10 of Item 1 of Article 2, Item 1 of Article 13, subitems 5. 3, 5.4 Items 5 of Article 48, subitem 1.15 of Item 1 of Article 2, Item 5 of Article 48, subitems 1. 20, 1.22, 1.23, 1.26 Items 1 of Article 2, subitem 5.5 of Item 5 of Article 48, subitems 1. 27, 1.28, 1.30 Item 1 of Article 2, parts two of Item 1 of Article 16, Item 3, subitem 5.2 of Item 5 of Article 48, subitems 2. 2, 2.1 Items 2 of Article 2, Items 1 and 2 of Article 48, subitem 5.1 of Item 5 of Article 48, the paragraph third part two of Item 1 of article 16 of the Law of the Republic of Belarus "About payment systems and payment services".";

3, of Item 28, 52, of Item 84 of the word "according to the legislation in the field of payment systems and payment services" to exclude Item parts one from Item part one;

the second item 4 after paragraph one to add part with the paragraph of the following content:

"accounting of transactions with electronic money on each e-wallet and the owner of e-wallet according to the procedure, established by rules of electronic payment system and (or) rules of the issuer;";

exclude Item 6;

to exclude from Item 8 of the word "and requirements of the legislation in the field of payment systems and payment services";

to add Item 9 after the word "not authorized" with the word "payment";

12, of Item 38, 74, of Item 107, of paragraph one of part one of Item 113 of the word "with observance of requirements of the legislation in the field of payment systems and payment services" to exclude Item parts one from Item part two;

"(payment instructions)" to exclude from Item 16 of the word;

state Item 18 in the following edition:

"18. Between residents transactions with the electronic money emitted by residents are performed if other is not determined in the Section III of these rules and (or) legal acts.

Between residents and nonresidents, between nonresidents transactions with the electronic money emitted by residents or nonresidents are performed, between residents transactions with the electronic money emitted by nonresidents with observance of requirements of the foreign exchange legislation and these rules are performed.";

state Items 20 and 21 in the following edition:

"20. Resident issuers perform issue of the electronic money nominated in Belarusian rubles.

According to rules of electronic payment system and (or) rules of the issuer and agreements signed by the issuer with nonresidents acquisition at such nonresidents by other nonresidents outside the Republic of Belarus of the electronic money emitted by resident can be performed.

Provision by the issuer, not being the financial organization, to the nonresident of right of disposal to holders outside the Republic of Belarus of the electronic money emitted by resident is performed on condition of inclusion in the contract between such issuer and the nonresident of the requirement about transfer by the nonresident of money to this issuer in exchange for electronic money before transfer to the nonresident of money by holders.

The operator of electronic payment system and the issuer in case of submission to National Bank of rules of electronic payment system and (or) rules of the issuer in the cases established by National Bank according to subitem 3.11 of Item 3 of article 4 of the Law of the Republic of Belarus "About payment systems and payment services" specifies the urgent list of the nonresidents providing to nonresident holders outside the Republic of Belarus the electronic money emitted by resident (in case of their availability).

21. The electronic money released by the resident issuer is provided with cash amount in Belarusian rubles, the equivalent amount of nominal of the released electronic money.

Issuers do not grant to holders payment deferral acquired by holders at issuers of electronic money.

The requirement provided by part one of this Item is provided with the issuer, not being the financial organization, at the expense of own money and (or) money arriving to the issuer in exchange for electronic money with observance of the procedure determined in Item 33 of these rules.

Percent on balance in cash, arrived to the issuer, being the financial organization, from holders, agents on distribution, exchange of the electronic money, nonresidents who signed agreements with the issuer and specified in part two of Item 20 of these rules in exchange for the electronic money released by such issuer, are not charged.";

23, of 82, of 90, to exclude 104 words "according to requirements of the legislation in the field of payment systems and payment services" from Items;

"persons" and "persons" to add Item 27 after words respectively with words "-residents" and "-nonresidents";

in Item 29:

to add part one after the word of "persons" with the word "-residents";

the fourth to add part with the offer of the following content: "Repayment of electronic money which is performed as a result of issue of electronic money with their simultaneous repayment and the direction of the money which are due to holders - to physical persons according to payment instructions of such holders is made by the issuer.";

add Item with part of the following content:

"The issues received by participants from holders money as a result of transfer to holders by participants of issue of electronic money of the issuer are subject to transfer into accounts of participants of issue in banks.";

in Item 32 of the word "sixty sixth" shall be replaced with words "thirty third";

in Item 33:

second and third to state parts in the following edition:

"The special account of guarantee fund is used by the issuer in case of issue of electronic money for transfer in this respect of money from the current (settlement) bank account of the issuer (further - the current account of the issuer) in pursuance of the requirement provided by part one of Item 21 of these rules in the amount, the corresponding amount of the released electronic money. The electronic money released by the issuer is enlisted in e-wallet of the issuer with their subsequent transfer in e-wallets of holders and (or) agents on distribution, exchange of electronic money, and (or) the nonresidents specified in part two of Item 20 of these rules.

The special account of the issuer is used by the issuer in case of issue of electronic money for storage of the money transferred in this respect by holders, agents on distribution, exchange of electronic money, the nonresidents specified in part two of Item 20 of these rules for electronic money transferred them by the issuer without transfer by the issuer of equivalent cash amount from the current account of the issuer into the special account of guarantee fund in volume of such issue. Percent on balance in cash, considered on the special account of the issuer, are not charged.";

in parts four and word heel of "nonresidents according to part eight of this Item" shall be replaced with words "the nonresidents specified in part two of Item 20 of these rules";

in part six:

replace the words "can use" with the word "uses";

exclude the words "and requirements of the legislation in the field of payment systems and payment services";

the seventh or ninth to exclude parts;

state Item 34 in the following edition:

"34. Distribution of the electronic money emitted by residents is performed by agents on distribution of electronic money - residents.

The electronic money emitted by residents extends agents on distribution of electronic money based on the agreements signed by agents on distribution of electronic money with issuers. The payment deferral of electronic money granted by the issuer to the agent on distribution of electronic money can be provided in such agreement.

If the agreement specified in part two of this Item provides payment deferral of electronic money by the agent on distribution of electronic money, such agent extends to holders the electronic money received from the issuer on the terms of payment deferral only after provision by holders of money to such agent.

If the agreement specified in part two of this Item provides money transfer by the agent on distribution of electronic money to the issuer before obtaining from the issuer of electronic money for distribution, such agent can extend to holders - physical persons the electronic money received from the issuer on the terms of payment deferral holders - physical persons of electronic money to such agent.";

"-the resident" to exclude the word from Item 35 part two;

to add Item 36 after the word "money" with words ", received by such agent for distribution,";

state Item 39 in the following edition:

"39. Acquisition of electronic money by legal entities, individual entrepreneurs at the agent on distribution of electronic money is performed by money transfer to this agent from accounts of these legal entities, individual entrepreneurs on condition of replenishment of e-wallets which identification of owners is carried out. In case of acquisition of electronic money legal entities - residents, individual entrepreneurs - residents list money from the accounts in banks, legal entities - nonresidents, individual entrepreneurs - nonresidents list money from the accounts opened in banks or foreign banks.

Acquisition of electronic money by physical person at the agent on distribution of electronic money is made by implementation to this agent of cash payment by money or payment in non-cash form on condition of replenishment of e-wallet which identification of the owner is carried out, except for of stipulated in Item 16 these rules of case when e-wallets in electronic payment system do not open in case of distribution of electronic money with their simultaneous repayment.

In case, stipulated in Item 16 these rules, repayment of electronic money which is performed as a result of distribution of electronic money with their simultaneous repayment and the direction of the money which are due to holders - to physical persons according to payment instructions of such holders is made by the issuer.

If the agent on distribution of electronic money is at the same time payment aggregator, money transfer to the receiver of payment (beneficiary) as a result of distribution of electronic money with their simultaneous repayment by the issuer in case, stipulated in Item 16 these rules, can be performed by this agent within rendering payment service of acquiring of payment transactions. At the same time the issuer settles electronic money by the direction of money into the corresponding account of such payment aggregator for further transfer by this payment aggregator of money to the receiver of payment (beneficiary). To the agent on the distribution of electronic money which is not the financial organization who at the same time is the payment aggregator the issuer transfers money into the special account opened for such payment aggregator according to Item 7 of article 37 of the Law of the Republic of Belarus "About payment systems and payment services".

In case of acquisition of electronic money by physical person at the agent on distribution of electronic money, not being the financial organization, such agent the payment deferral of the electronic money acquired at the agent on condition of observance of requirements of part four of Item 34 of these rules can be granted to physical person and also if the amount of electronic money acquired by physical person on the terms of payment deferral does not exceed 12 basic sizes in any calendar month within calendar year.";

from parts one and the second Item 42 of the word "with observance of requirements of the legislation" to exclude;

to exclude from Item 50 of the word "in the procedure established by the legislation";

to add Item 51 after the word "Belarus" with the word to "nonresidents";

54, of parts one and the second Item 69 of the word "according to the legislation" to exclude from Item;

state Item 56 in the following edition:

"56. If other is not determined by Items 57, of 61, of 62 these rules, repayment to owners of e-wallets (holders) - legal entities, to individual entrepreneurs of electronic money is made by the issuer, agents on repayment of electronic money by means of bank transfer:

into the account of the legal entity - the resident, the individual entrepreneur - the resident in bank;

into the account of the legal entity - the nonresident, the individual entrepreneur - the nonresident in bank or foreign bank.";

in Item 59 of the word to "legal entities, individual entrepreneurs, physical persons" to replace with the word to "nonresidents";

in Item 64 the word of "instructions" shall be replaced with words "payment instructions";

to exclude from Item 65 of the word "and drawn up according to the legislation";

in parts of first or third of Item 68:

after the word of "Rules" to add with the words "repayment by the issuer of electronic money";

the word is "performed" to be replaced with the word "are performed";

in Item 89 "legislation" to replace the word with the word "legislation".

2. The agreements signed between payment service providers and users of payment services before entry into force of this resolution are subject to reduction in compliance with requirements of this resolution before its entry into force.

3. This resolution becomes effective in the following procedure:

Item 1 - in three months after official publication of this resolution;

other provisions - after its official publication.

 

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