Wolfsberg Group Updates its Payment Transparency Standards

The applicability, roles, and responsibilities of the Standards across key stakeholders within the payment chain are detailed, specifically concerning:

• The PMI(s) and the competent authorities;
• All PSPs, irrespective of their role in the payment chain;
• Debtor agent PSPs;
• Intermediary agent PSPs; and
• Creditor agent PSPs.

Further guidance is provided on:

• Payment flows; and
• Payment transparency challenges (and limitations).