Region

Jurisdiction

Regulator

2018-09-21

Decision on the Content, Deadlines and Manner of Submitting Data on Multilateral Interchange Fees

The National Bank of Serbia issued this Decision to establish the specific content, deadlines, and procedures for payment service providers to submit data on multilateral interchange fees. The regulation mandates that banks, electronic money institutions, payment institutions, and public postal operators report quarterly using a prescribed form to enable monitoring of interchange fee caps. These reporting obligations commenced with the first quarter of 2019, with strict submission deadlines set for late April, July, October, and early March of the following year.

Serbia

National Bank of Serbia

RS Official Gazette, No 69/2018 Pursuant to Article 3, paragraph 6 of the Law on Multilateral Interchange Fees and Special Operating Rules for Card-Based Payment Transactions (RS Official Gazette, No 44/2018) and Article 18, paragraph 1, item 3) of the Law on the National Bank of Serbia (RS Official Gazette, Nos 72/2003, 55/2004, 85/2005 – other law, 44/2010, 76/2012, 106/2012, 14/2015, 40/2015 – CC decision and 44/2018), the Governor of the National Bank of Serbia hereby issues DECISION ON THE CONTENT, DEADLINES AND MANNER OF SUBMITTING DATA ON MULTILATERAL INTERCHANGE FEES 1 This Decision sets out detailed content, deadlines and manner of submitting data which payment service providers shall submit to the National Bank of Serbia for the purpose of monitoring the application of the caps to interchange fees in accordance with the Law on Multilateral Interchange Fees and Special Operating Rules for Card-Based Payment Transactions. Payment service providers, within the meaning of this Decision, shall be the following:

bank;
electronic money institution;
payment institution;
public postal operator. 2 Payment service providers shall submit to the National Bank of Serbia data referred to in Section 1 hereof on the form Multilateral Interchange Fees, which is enclosed as Annex 1 herewith and is integral hereto. Data referred to in paragraph 1 hereof shall be submitted by the payment service providers in accordance with the instructions of the National Bank of Serbia regulating the electronic submission of data which are published on the National Bank of Serbia’s website. Payment service providers shall make sure that the data from paragraph 1 hereof are accurate and complete. 3 Payment service providers shall submit data from Section 2, paragraph 1 hereof on a quarterly basis:

2 – data for the first quarter, as at 31 March of the current year – no later than 20 April of the current year; – data for the second quarter, as at 30 June of the current year – no later than 20 July of the current year; – data for the third quarter, as at 30 September of the current year – no later than 20 October of the current year; – data for the fourth quarter, as at 31 December of the current year – no later than 5 March of the following year. 4 The deadline referred to in Section 3 hereof may be extended by the National Bank of Serbia if there is a justified need – of which it shall timely notify payment service providers. 5 Payment service providers shall submit data from Section 2, paragraph 1 hereof starting from the data for the first quarter of 2019. 6 This decision shall enter into force on the eighth day following its publication in the RS Official Gazette and shall be applied as of 17 December 2018. D. No 8 Governor 13 September 2018 of the National Bank of Serbia Belgrade Dr Jorgovanka Tabaković