Regulatory Alerts2026-07-16
Added
Payment System Law
The Payment System Law defines payment operations, services, and exclusions, establishing that payment services in Montenegro may only be provided by authorized entities such as banks, payment institutions, and electronic money institutions. It introduces notification requirements for service providers exceeding EUR 1,000,000 in transaction value and mandates that banks provide transaction accounts to payment and electronic money institutions on a non-discriminatory basis. The law further regulates payment service agents, defines electronic money and payment systems, and sets out specific definitions for terms including strong customer authentication and unique identifiers.