1.

A Payment Token Custodian and Transferor shall be fully liable for any fraudulent or Unauthorized Payment Token Transfer initiated, facilitated, effected or directed by the Payment Token Custodian and Transferor or otherwise made from a Wallet maintained by the Payment Token Custodian and Transferor, whether before or after the Customer as Payer informs the Payment Token Custodian and Transferor of any potential or suspected fraud, except where there is evidence that:

2.

The Payment Token Custodian and Transferor shall refund the amount of the Unauthorized Payment Token Transfer for which it is liable to its Customer and, where applicable, restore the debited Wallet to the state it would have been in had the Unauthorized Payment Token Transfer not taken place.

3.

The Payment Token Custodian and Transferor shall provide a refund under Article (31)2 as soon as practicable and in any event no later than the end of the Business Day following the day on which it becomes aware of the Unauthorized Payment Token Transfer.

4.

Article (31)2 and Article (31)3 do not apply where the Payment Token Custodian and Transferor has reasonable grounds to suspect that fraud or gross negligence as referred to in Article (31)1 applies, and notifies the Central Bank of those grounds in writing.

5.

Other than in relation to the circumstances contemplated in paragraphs Article (31)2 to Article (31)4, on conclusion of an investigation by a Payment Token Custodian and Transferor into an error or Complaint, a Payment Token Custodian and Transferor shall pay any refund or monetary compensation due to a Customer within (7) calendar days of such conclusion or instruction. In case of a delay in payment of any refund or compensation, the Payment Token Custodian and Transferor shall update the Customer with the expected time for crediting the amount due, along with a justification for the delay.