Changes from report parliamentary committee draft to plenary report

Added(a) the service is offered at its premises by a natural or legal person selling goods or services as a regular occupation;

Added(b) the amount of cash provided does not exceed EUR 100 or the equivalent amount in the currency of the Member State concerned, per withdrawal.

Added(ba) the client’s withdrawal is non-anonymised and requires the use of customer authentication.

Added2. This Article shall be without prejudice to Directive (EU) 2015/849 or any other relevant Union or national anti-money-laundering/terrorist financing laws.

AddedServices enabling cash withdrawals offered by ATM deployers not servicing payment accounts

Added1. By way of derogation from Article 3, natural or legal persons providing cash withdrawal services as referred to Annex I, point 1, and who do not service payment accounts and do not provide other payment services referred to in Annex I, shall not be subject to authorisation but shall register with a competent authority of the home Member State before taking up activity.

Added2. The registration referred to in paragraph 1 shall be accompanied by the information and documentation referred to in Article 3(3), points (a), (b), (e) to (h), (j), (l), (n), (p) and (q).

AddedFor the purposes of the documentation referred to in Article 3(3), points (e) (f) and (l), the natural or legal person registering shall provide a description of its audit arrangements and of the organisational arrangements it has set up to taking all reasonable steps to protect the interests of its users and to ensure continuity and reliability in the performance of the payment service as referred to in point (1) of Annex I.

AddedThe security control and mitigation measures referred to in Article 3(3), point (j), shall indicate how the natural or legal person registering will ensure a high level of digital operational resilience in accordance with Chapter II of Regulation (EU) 2022/2554, in particular in relation to technical security and data protection, including for the software and ICT systems used by the natural or legal person registering or the undertakings to which it outsources the whole or part of its operations.

Added3. Sections 1 and 2 of Chapter 1 shall not apply to the persons providing the services referred to in paragraph 1 of this Article. Section 3 of Chapter 1 shall apply to the persons providing the services referred to in paragraph 1 of this Article, with the exception of Article 25(3).

Added4. The persons providing the services referred to in paragraph 1 of this Article shall be treated as payment institutions.

Added4a. The natural or legal persons providing the services referred to in paragraph 1 of this Article shall comply with the requirements on transparency of fees and charges laid down in Article 7 of the Payment Services Regulation, and in particular shall ensure that such fees and charges are displayed at the initiation of the provision of the services.

AddedDuty of notification

Added1. Member States shall require service providers that carry out either of the activities referred to in Article 2(2), points (j), (i) and (ii), of Regulation XXX [PSR] or carrying out both activities, for which the total value of payment transactions executed over the preceding 12 months exceeds EUR 1 million, to inform the competent authorities about the services offered, specifying under which exclusion as referred to Article 2(2), points (j), (i) and (ii), of Regulation XXX [PSR] the activity is considered to be carried out.

AddedOn the basis of that notification, the competent authority shall take a duly motivated decision on the basis of criteria referred to in Article 2(2), point (j), of Regulation XXX [PSR] where the activity does not qualify as a limited network, and inform the service provider thereof.

Added2. Member States shall require service providers that carry out an activity as referred to in Article 2(2), point (k), of Regulation XXX [PSR] to send a notification to competent authorities and provide competent authorities an annual audit opinion, testifying that the activity complies with the limits set out Article 2(2), point (k), of Regulation XXX [PSR].

Added3. Member States shall ensure that competent authorities shall inform the EBA of the services notified pursuant to paragraph 1, stating under which exclusion the activity is carried out.

Added4. The description of the activity notified under paragraphs 2 and 3 shall be made publicly available in the registers referred to in Articles 17 and 18.

AddedDELEGATED ACTS AND REGULATORY TECHNICAL STANDARDS

AddedDelegated acts

AddedThe Commission shall be empowered to adopt delegated acts in accordance with Article 41 to update the amounts referred to in Article 5, Article 34(1), and Article 37 to take account of inflation.

AddedExercise of the delegation

Added1. The power to adopt delegated acts is conferred on the Commission subject to the conditions laid down in this Article.

Added2. The power to adopt delegated acts referred to in Article 40 shall be conferred on the Commission for an undetermined period of time from the date of entry into force of this Directive.

Added3. The delegation of power referred to in Article 40 may be revoked at any time by the European Parliament or by the Council. A decision to revoke shall put an end to the delegation of the power specified in that decision. It shall take effect on the day following the publication of the decision in the Official Journal of the European Union or on a later date specified therein. It shall not affect the validity of any delegated acts already in force.

Added4. As soon as it adopts a delegated act, the Commission shall notify it simultaneously to the European Parliament and to the Council.

Added5. A delegated act adopted pursuant to Article 40 shall enter into force only if no objection has been expressed either by the European Parliament or the Council within a period of 3 months of notification of that act to the European Parliament and the Council or if, before the expiry of that period, the European Parliament and the Council have both informed the Commission that they will not object. That period shall be extended by 3 months at the initiative of the European Parliament or of the Council.

AddedFINAL PROVISIONS

AddedFull harmonisation

Added1. Without prejudice to Article 6(3) and Article 34, insofar as this Directive contains harmonised provisions, Member States shall not maintain or introduce provisions other than those laid down in this Directive.

Added2. A Member State that uses any of the options referred to in Article 6(3) or Article 34, shall inform the Commission thereof and of any subsequent changes. The Commission shall make the information public on a website or other easily accessible means.

Added3. Member States shall ensure that payment service providers do not derogate, to the detriment of payment service users, from the provisions of national law transposing this Directive except where explicitly provided for therein. However, payment service providers may decide to grant more favourable terms to payment service users.

AddedReview clause

Added1. The Commission shall, by [OP please insert the date = 5 years after date of application of this Directive], submit to the European Parliament, the Council, the ECB and the European Economic and Social Committee, a report on the application and impact of this Directive, and in particular on:

Added▌

Added(b) the impact of the revision of Directive 2014/49/EU on the safeguarding of customer funds by payment institutions.

Added(ba) the total number and market share of payment service providers authorised under this Directive, classified per each Member State;

AddedWhere appropriate, the Commission shall submit a legislative proposal together with its report.

Added2. The Commission shall, by [OP please insert the date = three years after the date of entry into force of the PSR] submit to the European Parliament, the Council, the ECB and the European Economic and Social Committee, a report on the scope of this Directive, with regard in particular to payment systems, payment schemes and technical service providers, including the processing or operating of digital wallets, which are not within the scope of this Directive. Where appropriate, the Commission shall submit a legislative proposal together with that report.

AddedTransitional provisions

Added1. Member States shall allow payment institutions that have been authorised pursuant to Article 11 of Directive (EU) 2015/2366 by [OP please insert the date = 18 months after the date of entry into force of this Directive] to continue to provide and execute the payment services for which they have been authorised, without having to having to seek a new authorisation in accordance with Article 3 of this Directive or to comply with the other provisions laid down or referred to in Title II of this Directive until [OP please insert the date = 24 months after the date of entry into force of this Directive].

AddedMember States shall not require such payment institutions as referred to in the first subparagraph to submit to the competent authorities any supplementary information other than information that enables those competent authorities to assess, by [OP please insert the date = 24 months after the date of entry into force of this Directive], either of the following:

Added(a) whether those payment institutions comply with the new requirements under Title II and, where not, which measures need to be taken to ensure compliance;

Added(b) whether the authorisation should be withdrawn.

AddedPayment institutions as referred to in the first subparagraph which upon verification by the competent authorities comply with Title II shall remain authorised as payment institutions pursuant to Article 13 of this Directive and shall be entered in the registers referred to in Articles 17 and 18. Where those payment institutions do not comply with the requirements laid down in Title II by [OP please insert the date = 24 months after the date of entry into force of this Directive], they shall be suspended from providing payment services until such time as they provide to the relevant competent authority the required supplementary information which ensures their compliance with Title II and that competent authority has verified the accuracy of that information and duly authorised the payment service provider.

Added2. Member States shall provide for payment institutions as referred to in paragraph 1 to be authorised automatically and be entered in the register referred to in Articles 17 if the competent authorities have evidence that those payment institutions already comply with Articles 3 and 13. The competent authorities shall inform the payment institutions concerned of any obstacle to authorisation and proceed, without undue delay, to the removal of that obstacle.

Added3. Member States shall allow natural or legal persons who benefited from an exemption pursuant to Article 32 of Directive (EU) 2015/2366 by [OP please insert the date = 18 months after the date of entry into force of this Directive], and provided payment services as referred to in Annex I to that Directive, to do any of the following:

Added(a) to continue to provide those services within the Member State concerned until [OP please insert the date = 24 months after the date of entry into force of this Directive];

Added(b) to obtain an exemption pursuant to Article 34 of this Directive or,

Added(c) to comply with the other provisions laid down or referred to in Title II of this Directive.

AddedAny person as referred to in the first subparagraph who has not, by [OP please insert the date = 18 months after the date of entry into force of this Directive], been authorised or exempted under this Directive shall be suspended from providing payment services until such time as that person provides to the relevant competent authority the required supplementary information and that competent authority has verified the accuracy of that information and duly authorised the payment service provider.

Added4. Member States may grant natural and legal persons who benefited from an exemption pursuant to Article 32 of Directive (EU) 2015/2366 an exemption pursuant to Article 34 of this Directive and enter those persons in the registers referred to in Articles 17 and 18 of this Directive where the competent authorities have evidence that the requirements laid down in Article 34 of this Directive are complied with. The competent authorities shall inform the payment institutions concerned thereof. If competent authorities fail to take a decision by ... [24 months from the date of entry into force of this Directive], payment institutions may continue to provide and execute the payment services for which they have been authorised until such decision is taken.

AddedTransitional provision – electronic money institutions authorised under Directive 2009/110/EC

Added1. Member States shall allow electronic money institutions which were defined in Article 2, point 1, of Directive 2009/110/EC that have taken up, before [OP please insert the date = 18 months after the date of entry into force of this Directive], activities in accordance with national law transposing Directive 2009/110/EC as electronic money institutions in the Member State in which their head office is located in accordance with national law transposing Directive 2009/110/EC, to continue those activities in that Member State or in another Member State without having to seek a new authorisation in accordance with Article 3 of this Directive or to comply with the other provisions laid down or referred to in Title II of this Directive until ... [24 months from the date of entry into force of this Directive].

Added2. Member States shall not require the electronic money institutions referred in paragraph 1 to submit to the competent authorities any information other than information that enables those competent authorities ▌to assess, by [OP please insert the date = 24 months after the date of entry into force of this Directive], whether those electronic money institutions comply with this Directive. Where such assessment reveals that those electronic money institutions do not comply with those requirements, the competent authorities shall decide which measures need to be taken to ensure such compliance, or to withdraw the authorisation.

AddedElectronic money institutions as referred to in the first subparagraph which upon verification by the competent authorities comply with Title II shall be authorised as payment institutions pursuant to Article 13 of this Directive, shall be entered in the registers referred to in Articles 17 and 18. Where those electronic money institutions do not comply with the requirements laid down in Title II by [OP please insert the date = 24 months after the date of entry into force of this Directive], they shall be suspended from providing electronic money services until such time as they provide to the relevant competent authority the required supplementary information and that competent authority has verified the accuracy of that information and duly authorised the electronic money institution.

Added3. Member States shall allow electronic money institutions as referred to in paragraph 1 to be authorised automatically as payment institutions and entered in the register referred to in Article 17 where the competent authorities have evidence that the electronic money institutions concerned comply with this Directive. The competent authorities shall inform the electronic money institutions concerned of any obstacle to authorisation and proceed, without undue delay, to the removal of that obstacle.

Added4. Member States shall allow those legal persons that have taken up, before [OP please insert the date = 18 months after the date of entry into force of this Directive], activities in accordance with national law transposing Article 9 of Directive 2009/110/EC, to continue those activities within the Member State concerned in accordance with that Directive until [OP please insert the date = 24 months after the date of entry into force of this Directive], without being required to seek a new authorisation under Article 3 of this Directive or to comply with the other provisions laid down or referred to in Title II of this Directive. If competent authorities fail to take a decision by ... [24 months from the date of entry into force of this Directive], those legal persons may continue to provide and execute the electronic money services and payment services for which they have been authorised.

AddedExtension period

AddedCompetent authorities may exceptionally decide to extend the period before specific payment institutions and electronic money institutions are prohibited from providing services when those institutions provided the information required pursuant to Articles 44 and 45 and the competent authority has not been able to process it within the applicable deadline.