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Article 4

No: 000044093096 Date(g): 13/6/2023 | Date(h): 24/11/1444 Status: In-Force

Effective from Jun 13 2023 - Jun 12 2023
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 (1)The Implementing Regulation apply to all Persons that carry out Relevant Payment Services in the Kingdom if any of the following apply:
 
 
    (a)Provides Relevant Payment Services from an establishment located in the Kingdom;
 
 
    (b)Holds itself out by any means as providing a Payment Service in the Kingdom;
 
 
    (c)Invites or induces a Person located in the Kingdom to enter into, or offer to enter into, an agreement in relation to a Payment Service;
 
    (d)Markets or otherwise promotes any Payment Service to one or more Persons in the Kingdom; or
 
 
    (e)Appoints another Person operating from an establishment located in the Kingdom where such appointee:
 
 
  (i)Has a mandate to provide a Payment Service in the Kingdom on behalf of the appointer;
 
 
  (ii)Accustomed to act in accordance with the instructions of that appointer; and
 
 
  (iii)Provides a Payment Service on the appointer’s behalf or invites or induces a Person in the Kingdom to enter into, or offer to enter into, an agreement in relation to a Payment Service.
 
 (2)The Implementing Regulation apply to all Persons that carry out Payment System operating -whether the Payment Systems Operator is established in the Kingdom or abroad or whether the Payment System is operated in the Kingdom or abroad - if any of the following apply:
 
    (a)The Payment System operating rules specified rules and conditions for enabling Credit Transfers relating to Payment Transactions initiated by Payers or Payees residing in the Kingdom; or
 
    (b)The Payment System provides services for the handling and settling of Payment Orders to Members residing in or operating in the Kingdom.