Regulatory Alerts2022-11-04
Added · Updated
Circular Letter No. CC/2022/00000026
The document requires Account Servicing Payment Service Providers (ASPSPs) that have developed dedicated Application Programming Interfaces (APIs) to correct two specific compliance gaps by 31 March 2023: ensuring the Payment Services User (PSU) name is provided via the API when available during direct access, and making 'card accounts' accessible to Third Party Providers (TPPs) on the same basis as direct interfaces. Failure to comply may result in the revocation of API contingency mechanism exemptions and administrative fines ranging from 10,000 to 5,000,000 euros for especially serious infractions.
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