In this Article (29), “Payment Token Service Provider” refers to a Licensee or a Registree, with the exception of Registered Foreign Payment Token Issuers.
2.
Payment Token Service Providers shall provide Customers with a written or an electronic statement of the Payment Token Transfers initiated, facilitated, effected, directed or received by a Payment Token Service Provider under a Customer Agreement at least once per month free of charge. The statement shall include details of (insofar as relevant) the amounts, fees, charges and commissions, the dates and times of performance and the reference numbers for each Payment Token Transfer.
3.
Immediately after the receipt of an instruction for initiation, facilitation, effecting or directing of a Payment Token Transfer, the Payment Token Service Provider of the Payer shall provide a receipt for the Payer with the following information insofar as relevant:
a)
confirmation of the successful or unsuccessful performance of the Payment Token Transfer;
b)
acknowledgement and reference number to track the status of the Payment Token Transfer, including:
(i)
the date, time and amount of the Payment Token Transfer; and
(ii)
information relating to the Payee;
c)
the amount of the Payment Token Transfer, any related fees or charges, including any actual currency and conversion rates used, and withdrawal charges, where applicable; and
d)
the date and time on which the Payment Token Service Provider received the instruction for the Payment Token Transfer.
4.
The Payee’s Payment Token Service Provider shall, immediately after receipt of a Payment Token Transfer, provide to the Payee with a statement with the following information insofar as relevant:
a)
reference enabling the Payee to identify the Payment Token Transfer and, where appropriate, the Payer and any information transferred with the Payment Token Transfer;
b)
the amount of the Payment Token Transfer in the currency in which the Payment Token is denominated;
c)
the amount of any fees or charges for the Payment Token Transfer payable by the Payee;
d)
where applicable, the currency exchange rate used in the Payment Token Transfer by the Payee’s Licensed Payment Token Service Provider; and
e)
the date and time on which the amount of a Payment Token Transfer is received into the Payee’s Wallet.
5.
The Payer’s Payment Token Service Provider shall ensure that instructions for a Payment Token Transfer are accompanied by the necessary information so that they can be processed accurately and completely, and also, be easily identified, verified, reviewed, audited and for any subsequent investigation if needed.
6.
The Payee’s Payment Token Service Provider shall implement procedures to detect when any necessary information is missing or inaccurate for a Payment Token Transfer.