From 1 January 2024, Payment Service Providers (‘PSPs’) will be required to submit to the new CESOP platform, on a quarterly basis, details of certain cross-border payments processed within the EU.
Affected institutions include:
- Fully licensed banks and other credit institutions;
- Payment institutions (i.e., issuers of credit/debit cards and acquirers of payment transactions);
- Electronic money institutions and;
- Post office giro institutions.
Source PwC
