Regulatory AlertsNotice No. 1/2024
The Bank of Portugal issued Notice No. 1/2024 to regulate the application of transaction amount limits by payment service providers established in Portugal for electronic payments where the Tax and Customs Authority or IGCP are the beneficiaries. This regulation specifically targets payment institutions to ensure compliance with these mandatory caps on such public sector transactions. The notice entered into force on February 20, 2024, following its publication in the Official Gazette on February 6, 2024.
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