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Wolfsberg Group Updates its Payment Transparency Standards

19 September 2023
laptop and credit card payment

Wolfsberg Group Updates its Payment Transparency Standards

The Wolfsberg Group has today published updated 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).
Relevant firms should view the updated Standards, and take any appropriate action, as required

 
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