Regulatory Alerts2025-01-10
Requirements for network channels used between payment service providers for providing payment initiation and account information services
The Central Bank of the Republic of Azerbaijan issued Resolution No. 49/3 to standardize secure network channels and API gateway operations for payment initiation and account information services. The regulation requires account servicing providers to maintain authorized interfaces that enable third-party providers to retrieve payment data, execute transactions, and access open financial information using strong customer authentication. It further establishes operational protocols, including a structured user consent mechanism with a maximum ninety-day validity period and mandatory connection agreements for all participating entities.
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