Wolfsberg Group guidance supplementing payment transparency standards

The Wolfsberg Group has published guidance on payment transparency roles and responsibilities to supplement the Wolfsberg Group Payment Transparency Standards. The guidance discusses roles played by key actors in a payment chain and their respective responsibilities to adhere to payment transparency standards across a sample of commonly observed payment flows. It includes an example of cross-border payment between two countries, two parties and with no intermediaries, as well as an example of three different ways in which an intermediary agent payment service provider (PSP) can be involved in a payment to draw attention to what information is available to each actor from the payment message and what responsibilities they have in relation to payment transparency requirements. The guidance serves as a reference guide that can be used by all PSPs, regulators and standard setters.

The Wolfsberg Group has also published FAQs on defining digital assets.

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