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 other related laws, the following services do not constitute Payment
Services:
| (1) | Payment that is made exclusively in cash directly from the Payer to the Payee, without any intermediary intervention. | |||
| (2) | The payment that is made from the Payer to the Payee through a commercial agent authorized via an agreement to negotiate or conclude the sale or purchase of goods or services on behalf of any person. | |||
| (3) | Professional physical transport of banknotes and coins, including their collection, processing and delivery. | |||
| (4) | The payment that is consisting of the non-professional cash collection and delivery within the framework of a non-profit or charitable activity. | |||
| (5) | Services where cash is provided by a person to another as part of a Payment Transaction following an explicit request by the Payment Service User just before the execution of the Payment Transaction through a payment for the purchase of goods or services. | |||
| (6) | Currency exchange operations carried out independently and outside the scope of payment services. | |||
| (7) | The payment that is based on cheques, traveller’s cheques, and paperbased vouchers. | |||
| (8) | Payment that is related to securities asset servicing, including dividends, income or other distributions, or redemption or sale, or by investment institutions, credit institutions, collective investment institutions or asset management companies that provide investment services and any other entities allowed to have the custody of financial instruments. | |||
| (9) | Services provided by technical service providers, For example, technical services. | |||
| (10) | Services based on specific Payment Instruments that can be used only in a Limited Network. | |||
| (11) | Payment Transactions by a provider of electronic communications networks, in addition to electronic communications services for a subscriber to the network or services for any of the following: | |||
| (a) | For the purchase of digital content and voice-based services, regardless of the device used for the purchase or consumption of the digital content and charged to the unrelated bill; or | |||
| (b) | Services performed through electronic means and included in the relevant receipt as part of a charitable activity or ticket purchase. | |||
| (12) | Payment Transactions carried out among Payment Service Providers, their Agents or branches for their own accounts. | |||
| (13) | Payment Transactions and related services between a Holding Company and its subsidiary or between subsidiaries of the same parent company, including Payment Transactions and services that is made through Payment Services Provider belongs to the same parent group. | |||
| (14) | Withdrawal services offered by means of ATM by providers acting on behalf of one or more card issuers, which are not a party to the Framwork Contract with the Payment Service User withdrawing money from a payment account, on condition that those providers do not conduct other Relevant Payment Services as referred to in Article 6. | |||
| (15) | Banking business regulated pursuant to the Banking Control Law, and the activities of finance companies regulated pursuant to the Finance Companies Control Law. | |||
| (16) | Money exchange business regulated pursuant to the Rules Regulating Money Changing Business, where Funds are not held on a Payment Account. | |||
| (17) | Money Remittance. | |||