18. Presumption of fraud by lawful holder of payment device

A holder of a credit card or other payment device—

who has failed to pay the total sum due to the Issuer of such credit card or payment device within the period allowed therefor by the Issuer ; and

who changes his residence or place of employment as stated in the application for such payment device without informing the issuer of such change, shall be presumed to have done so with intent to wilfully defraud the Issuer of such sum.