Regulatory Alerts2023-03-14
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Notice No. 3/2023
This Notice regulates the application of exclusions for payment instruments limited to specific goods, services, or restricted networks under the Portuguese Payment Services and Electronic Money Legal Regime. Issuers must notify the Bank of Portugal if their annual transaction volume exceeds one million euros, providing detailed operational, technical, and risk information. The regulation establishes specific notification procedures, required documentation, and publication requirements, with a transitional period of 90 days for existing issuers to submit updated communications.
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