Regulatory Alerts2022-11-04
Circular Letter No. CC/2022/00000026
The Bank of Portugal mandates that Account Service Provider Payment Service Providers (ASPSPs) which have opted to develop APIs must correct identified non-conformities by March 31, 2023. This requirement follows a monitoring review of progress in eliminating obstacles to third-party payment services, as previous measures failed to fully resolve existing issues. The directive applies to credit institutions, electronic money institutions, and payment institutions to ensure compliance with open banking standards.
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