Article 7
| No: 000044093096 | Date(g): 13/6/2023 | Date(h): 24/11/1444 | Status: In-Force |
Translated Document
Effective from Jun 13 2023 - Jun 12 2023
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Subject to relevant regulations, none of the following services are considered relevant payment services:
| 1. | Cash payments made exclusively and directly from a person to another without any intervention of any intermediary. | |||
| 2. | The payment transaction by a person to another person, which is made through a commercial agent authorized - under an agreement - to negotiate or complete the sale or purchase of goods or services on behalf of any person. | |||
| 3. | The commercial transportation of banknotes and coins in physical form, including their collection, processing and delivery. | |||
| 4. | Payment transactions consisting of the non-commercial collection and delivery of cash within the framework of a non-profit or charitable activity. | |||
| 5. | Services in which cash is provided from a person to another person as part of a payment process, at the express request of the payment service user prior to executing the payment transaction through payment for the purchase of goods or services. | |||
| 6. | Currency exchange transactions carried out independently and outside the scope of payment services. | |||
| 7. | Payments made via cheques, traveler cheques and paper vouchers. | |||
| 8. | Payment transactions in connection with the servicing of securities assets, including dividends, income or other distributions, redemptions or sales, investment companies, credit institutions, collective investment institutions, asset management companies providing investment services and any other entities permitted to hold financial instruments. | |||
| 9. | Services provided by technical service providers, including, for example, technical services. | |||
| 10. | Services based on specific payment instruments that can only be used within a limited network. | |||
| 11. | Payment services and transaction conducted by an electronic communication network provider, in addition to electronic communication services for network subscribers or services for any of the following: | |||
| A. | Purchase digital content and audio services regardless of the device used to purchase or use the digital content and included in a relevant receipt. | |||
| B. | Services performed via electronic means and included in the relevant receipt in the context of a charitable activity or for the purchase of tickets. | |||
| 12. | Payments made between payment service providers, their agents or branches thereof. | |||
| 13. | Payment transactions and related services between a holding company and its subsidiaries or between subsidiaries of the same parent company. the same includes payment transactions and services made by a payment service provider that belongs to the same group as the parent company. | |||
| 14. | Withdrawal services provided via ATMs by service providers, who act on behalf of one or more card issuers and are not considered a party to the framework contract with the payment service user who withdraws funds from the payments account, provided that they do not provide payment services relating to the manner described in Article [6]. | |||
| 15. | Banking activities regulated under the Banking Control Law, and finance company activities regulated under the Finance Companies Control Law. | |||
| 16. | Money exchange business regulated in accordance with the Rules Regulating Money Changing Business and during which funds are not maintained in the payments account. | |||
| 17. | Transfers. | |||