Regulatory Alerts2022-12-26
Advanced payment services
The Supervisor of Banks issued this directive to establish additional requirements for banking corporations regarding payment activities executed via payment applications under the Payment Services Law. The regulation mandates that current account managers and payment card issuers disclose specific transaction details, including the application name, payer or beneficiary identity, date, amount, and purpose, to customers. These disclosures must be presented through standard communication channels with the same timing and frequency as other payment transaction information.
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