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Article (16): Outsourcing

C 15/2021 Effective from 6/6/2021
  1. Payment Service Providers outsourcing services and processes to service providers, Agents or Group entities shall be obliged to contractually ensure that such third parties comply with the requirements of this Regulation, Level 2 Acts and other relevant laws.
     
  2. The outsourcing under paragraph (1) shall be subject to the prior approval of the Central Bank. Furthermore, Payment Service Providers shall provide details on all outsourcing under paragraph (1) in a report on an annual basis to the Central Bank.
     
  3. Payment Service Providers shall remain fully liable for any acts of any Agent, branch or service provider to which a Retail Payment Service has been outsourced.
     
  4. Payment Service Providers shall be responsible for ensuring and maintaining appropriate training and qualifications of their Agents.