Regulatory Alerts2020-01-01
Decision on Method and Time Limits for Submitting Interchange Fee Data
The Council of the Central Bank of Montenegro mandates that domestic payment service providers must submit quarterly interchange fee data to the regulator using a prescribed electronic template. Providers are strictly liable for data accuracy and must file submissions within fifteen days following the end of each quarter, with hard copies required only upon request. This decision applies to all consumer card transactions where both the payer and payee service providers are headquartered in Montenegro, taking effect eight days after its Official Gazette publication and applying retroactively to the original interchange fee law.
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