Notice 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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Notice No. 1/2024

Summary

Regulates the application, by payment service providers established in Portugal, of amount limits to electronic payment operations in which the Tax and Customs Authority and the Agency for the Management of Treasury and Public Debt - IGCP, E.P.E. are the beneficiaries.

Status: In force Official Journal: DR, 2nd Series, Part E, No. 26, of 06-02-2024 Publication Date: 06-02-2024 Entry into Force Date: 20-02-2024

Descriptors: Payment Services, Electronic Payment, Payment Systems Target Audience Type: Payment Institutions Recipients: Payment Institutions


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