BAKU, Azerbaijan, June 22. The payment service provider must reimburse the payer for the amount of the unauthorized payment transaction with all service fees charged to the payer for performing this payment transaction, Trend reports.
This is stated in the draft law "On payment services and payment systems", which is being discussed at today's meeting of the Committee of the Milli Majlis (Parliament) on economic policy, industry and entrepreneurship.
The requirements of Article 25.1 of this law apply even if the payment transaction is initiated by an intermediary.
If an intermediary initiates an unauthorized payment transaction, the payment service provider servicing the account returns the funds to the payer in accordance with the procedure established by Article 25.2 of this law.
When establishing the fault of the intermediary for an unauthorized payment transaction, he is obliged to reimburse the payment service provider for the costs incurred by him in connection with the refund of funds to the payer.