Article 73
| 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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The payment service provider may reject the payment services order or suspend the payments account in the following cases:
| A. | If the conditions for approving or disapproving a payment services order in the contract concluded between a user and a payment service provider are not met. | |||
| B. | If the payment service provider has reasons to suspect that the payment transaction associated with the payment services order is the result of a fraudulent act or creates any risks relating to Anti-Money Laundering and Counter-Terrorism Financing. | |||
| C. | If the payment transaction for which the payment services order was issued violates any of the obligations of the payment service provider imposed thereon under the relevant laws, regulations and decisions. | |||
| 2. | When a payment service order is rejected, the payment service provider shall notify the payment service user in a timely manner of the rejection, explaining the reasons for the rejection and the mechanism for correcting the same, taking into account that the payment service - the subject of the rejection - shall be resumed as soon as the reasons for the rejection are resolved or ceased to exist. | |||
| 3. | The payment service user shall not bear the transaction fees in the event of rejection, unless his contract concluded with the payment service provider provides for otherwise. | |||