Regulatory Alerts2025-04-16
Recommendation No 3/2025 on Instant Credit Transfers via Single Data Entry Solutions and Payment Requests
The Magyar Nemzeti Bank issued Recommendation No 3/2025 to establish requirements and good practices for payment service providers regarding instant credit transfers initiated via single data entry solutions and payment requests on multifunction devices. The document mandates customer-friendly design standards, including the use of separate authorization interfaces, specific data display rules, and streamlined authentication processes for QR codes, deep links, and NFC transactions. It further outlines obligations for saving payment data, notifying consumers of expiration dates, and ensuring robust fraud prevention measures to enhance the overall consumer experience.
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