Research Title : The Legal Nature of Electronic Payment Cards
Authors : Althunibat, Abdullah Omar & Alshurman, Sohib Yahya & Albnian, Ahmad Awwad & ElTayeb, ElGaili Ahmed
Abstract :Given the growth and expansion of commerce and the transition from a conventional system to an advanced digital one, people looked for a method that would facilitate meeting their demands and safeguard them against the possibility of their money being misplaced or stolen while being transferred. Due to this, banks developed a sophisticated method known as electronic payment cards. These cards are handled based on trust and reciprocal credit between the parties to the card (bank, holder, and merchant), establishing contractual relationships between the parties to the contract, with each agreement having a distinct legal effect that imposes obligations on each of its parties. Therefore, it was necessary to establish a separate legal system that governs the relationship between the parties to the contract and its legal effects because the success of cards as a digital payment method depends on the relationships between its parties and because using these cards for payment will result in numerous disputes. Therefore, this study aimed to determine which legal system regulates the relationship between the contract's parties and which laws, if any, are adaptable to control electronic payment cards. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
Keywords : : electronic cards; Electronic payment; legal nature; prepaid cards
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