Regulatory Alerts2020-04-29 | 33543Consultation on the Draft Guideline for Non-Bank Non-Financial Institutions in Retail Payments
The regulator issued a consultation on April 29, 2020, proposing a draft guideline that establishes operational, risk management, and governance requirements for non-bank non-financial institutions participating in retail payment systems. The framework mandates enhanced security standards, reporting obligations, and business continuity measures to ensure payment service reliability. Stakeholders must submit feedback on these proposed standards, which will ultimately define the compliance obligations for non-bank payment providers.
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