The following activities, linked or related to the provision or management of payment methods as defined in Article 12 of Regulation No. 03/16/CEMAC/UMAC/CM, are considered payment services such as:
- Credit institutions as defined by the Convention of January 17, 1992, on the harmonization of banking regulations in the Central African States;
- Microfinance institutions as defined by Regulation No. 01/02/CEMAC/UMAC/COBAC/CM of April 13, 2002, concerning the conditions for carrying out and monitoring microfinance activities in the CEMAC region;
- The Public Treasury and postal check services, subject to the specificities related to their status;
- Other approved institutions.
The opening of a payment account or subscription to a payment service is service is subject to the conclusion by the payment service provider or its distributor or its distributor, where applicable, and the customer, of a contract which sets out clearly and legibly, on pain of nullity:
- Identification of the payment service provider;
- Where applicable. identification of the payment service distributor or sub-distributor, including brand name, logo and company name or business name;
- The identity of the customer, in accordance with a valid official document presented by the customer;
- The conditions of use of the payment services;
- A description of the possible uses of the payment services etc.
The subscription contract signed with each customer states that the payment service provider is liable to the customer for the correct settlement of transactions carried out by a distributor or sub-distributor.
The customer shall be informed of the terms and conditions of the contract in writing, in a clear and easily understandable form, in an official language of the country in which the company is based, before being bound by a contract or offer.
A payment account held by a payment institution may only be in debit if credit has been duly granted by the customer.
Payment services are provided within the limits of the accounts, instruments, payment transactions and related charges set by the regulations in force.
any amendment to the information and conditions of the contract shall be proposed by the payment service provider to a customer in writing, in a clear and easily understandable form, in an official state language, leaving a record of its receipt, no later than one month before the date on which it is due to come into force.
The customer may accept or reject the modification before the date proposed for its entry into force. The payment service provider shall inform the customer;
- The customer is deemed to have accepted the change if he does not notify the payment service provider before the proposed date of entry into force of the change that he does not accept it;
- In the event that the customer rejects the modification, he has the right to terminate the contract free of charge and with effect at any time up to the date on which the modification would have been applied.
The payment service provider shall bear the burden of proving that it meets the information requirements laid down in this Title.
Any payment transaction ordered by a customer gives rise to the immediate provision of the following information to the customer/payer and, where applicable, to the beneficiary:
- The name of the payment service provider;
- The reference number of the distributor or sub-distributor, where applicable;
- The nature of the transaction and the related payment service;
- The amount and charges of the transaction;
- The date, time and reference number of the transaction.
The payment service provider makes available to the customer the appropriate means to block payment instruments in their possession in case of loss or theft and to take all necessary steps to prevent any use of the blocked payment method.
Payment services are provided in accordance with applicable regulations governing the legal framework for payment methods and consumer protection in financial services, including rules relating to:
- Consent and authorization of a payment transaction;
- Receipt of a payment order;
- Execution deadlines for a payment order;
- Refusal to execute a payment order;
- Revocation of a payment order, etc.
The payment service provider establishes a permanent system for monitoring, receiving, and processing customer complaints.
This system must:
- Be accessible through various channels at all times;
- Commit the institution to a specific timeframe for processing complaints;
- Ensure the traceability of complaints received and processed.