2022-11-04

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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Banco de Portugal

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Circular Letter No. CC/2022/00000026

Summary

Actions to ensure the removal of obstacles to the provision of services by third-party payment service providers.

Based on the monitoring carried out regarding the progress of ASPSPs in eliminating the obstacles identified in Circular Letters CC/2020/00000045 and CC/2021/00000021, and considering that situations remain to be resolved, the Bank of Portugal establishes that ASPSPs that have opted to develop an API must correct those non-conformities by the deadline of March 31, 2023.

Status: Expired

Official Bulletin: 10/2022, 2nd Supplement

Publication Date: 04-11-2022

Issue Date: 04-11-2022

Recipient Type: Credit Institutions, Electronic Money Institutions, Payment Institutions

Descriptors: Offence, Electronic Payment, Deadline, Service Provision, Payment Services, Payment Systems

Recipients: Banks, Central Credit Agricultural Mutual Credit Box, Agricultural Mutual Credit Boxes, Savings Banks, Electronic Money Institutions, Payment Institutions, Credit Financial Institutions

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