Changes from report parliamentary committee draft to plenary report

Added(e) Member States or their regional or local authorities when not acting in their capacity as public authorities.

Added2. This Regulation does not apply to the following services:

Added(a) payment transactions made exclusively in cash directly from the payer to the payee, without any intermediary intervention;

Added(b) payment transactions from the payer to the payee through a commercial agent, as defined in Article 1(2) of Directive 86/653/EEC, provided that all of following conditions are met : i) the commercial agent is authorised via an agreement to negotiate or conclude the sale or purchase of goods or services on behalf of only the payer or only the payee, but not both of them, irrespective of whether or not the commercial agent is in the possession of the client’s funds, and ii) such agreement gives the payer or the payee a real margin to negotiate with the commercial agent or conclude the sale or purchase of goods or services;

Added(c) payment transactions consisting of the non-professional cash collection and delivery within the framework of a non-profit or charitable activity;

Added(d) services where cash is provided by the payee to the payer as part of a payment transaction for the purchase of goods and services, following an explicit request by the payment service user just before the execution of the payment transaction;

Added(e) services where cash is provided voluntarily in retail stores following an explicit request by the payment service user but independently of the execution of any payment transaction and without any obligation to make a purchase of goods and services. The payment service user shall be provided with information on any possible charges for this service before the requested cash is provided;

Added(f) payment transactions based on any of the following documents drawn on the payment service provider to place funds at the disposal of the payee:

Added(i) paper cheques governed by the Geneva Convention of 19 March 1931 providing a uniform law for cheques;

Added(ii) paper cheques similar to those referred to in point (i) and governed by the laws of Member States which are not party to the Geneva Convention of 19 March 1931 providing a uniform law for cheques;

Added(iii) paper-based drafts referred to in the Geneva Convention of 7 June 1930 providing a uniform law for bills of exchange and promissory notes;

Added(iv) paper-based drafts similar to those referred to in point (iii) and governed by the laws of Member States which are not party to the Geneva Convention of 7 June 1930 providing a uniform law for bills of exchange and promissory notes;

Added(v) paper-based vouchers;

Added(vi) paper-based traveller’s cheques;

Added(vii) paper-based postal money orders as defined by the Universal Postal Union;

Added(g) payment transactions carried out within a payment or securities settlement system between settlement agents, central counterparties, clearing houses or central banks and other participants of the system, and payment service providers, without prejudice to Article 31;

Added(h) payment transactions related to securities asset servicing, including dividends, income or other distributions, or redemption or sale, carried out by persons as referred to in point (g) or by investment firms, credit institutions, collective investment undertakings or asset management companies providing investment services and any other entities allowed to have the custody of financial instruments;

Added(ha) payment transactions used for the execution of trading and settlement services using electronic money tokens as defined in Article 3(1), point (7), of Regulation (EU) 2023/1114 of the European Parliament and of the Council, where the payment service provider has already been authorised as a crypto-asset service provider in a Member State for those services under Title V of that Regulation;

Added(i) without prejudice to Article 23(2), and Articles 58 and 87, services provided by technical service providers;

Added(j) services based on specific payment instruments that meet one of the following conditions:

Added(i) instruments allowing the holder to acquire goods or services only in the physical or virtual premises of the issuer or within a single limited network of service providers under direct commercial agreement with a professional issuer;

Added(ii) instruments which can be used only to acquire a very limited range of goods or services, including, but not limited to, instruments restricted to use in business-to-business transactions;

Added(iii) instruments valid only in a single Member State, which are provided at the request of an undertaking or a public sector entity and regulated by a national or regional public authority for specific social or tax purposes to acquire specific goods or services from suppliers having a commercial agreement with the issuer, and which cannot be converted into cash;

Added(k) payment transactions by a provider of electronic communications networks as defined in Article 2, point (1), of Directive (EU) 2018/1972 of the European Parliament and of the Council, or services provided in addition to electronic communications services as defined in Article 2, point (4), of that Directive to a subscriber to the network or service:

Added(i) to purchase digital content and voice-based services, regardless of the device used for the purchase or consumption of the digital content and charged to the related bill; or

Added(ii) performed from or via an electronic device and charged to the related bill within the framework of a charitable activity or for the purchase of tickets;

Addedprovided that the value of any single payment transaction does not exceed EUR 60 and:

Added– the cumulative value of payment transactions for an individual subscriber does not exceed EUR 360 per month, or

Added– where a subscriber pre-funds its account with the provider of the electronic communications network or service, the cumulative value of payment transactions does not exceed EUR 360 per month;

Added(l) payment transactions carried out between payment service providers, their agents or branches for their own account;

Added(m) payment transactions and related services between a parent undertaking and its subsidiary or between subsidiaries of the same parent undertaking, including the collection of funds as well as the execution of payments by entities belonging to the same group on behalf of a group by a parent undertaking or its subsidiary▐.

Added3. Titles II and III apply to payment transactions in the currency of a Member State where both the payer’s payment service provider and the payee’s payment service provider are, or the sole payment service provider in the payment transaction is, located within the Union.

Added4. Title II, except for Article 13(1), point (b) , Article 20, point (2)(e) and Article 24, point (a), and Title III, except for Articles 67 to 72, apply to payment transactions in a currency that is not the currency of a Member State, where both the payer’s payment service provider and the payee’s payment service provider are, or the sole payment service provider in the payment transaction is, located within the Union, in respect to those parts of the payments transaction which are carried out in the Union.

Added5. Title II, except for Article 13(1), point (b), Article 20, point (2)(e) and point (5)(h) and Article 24, point (a), and Title III, except for Article 28(2) and (3), Articles 62, 63 and 67, Article 69(1), and Articles 75 and 78, apply to payment transactions in all currencies where only one of the payment service providers is located within the Union, in respect to those parts of the payments transaction which are carried out in the Union.

Added6. Member States may exempt institutions referred to in Article 2(5), points (4) to (23), of Directive 2013/36/EU from the application of all or part of the provisions of this Regulation.

Added7. By [ OP please insert the date= one year after the date of entry into force of this Regulation], the EBA shall develop guidelines specifying the criteria for the exclusion for payment transactions from the payer to the payee through a commercial agent referred to in paragraph 2, point (b) of this Article.

Added8. The EBA shall develop draft Regulatory Technical Standards to specify the conditions of the exclusions referred to in paragraph 2, point (j). The EBA shall take into account the experience acquired in the application of the EBA guidelines of 24 February 2022 on the limited network exclusion under Directive (EU) 2015/2366.

AddedThe EBA shall submit the Regulatory Technical Standards referred to in the first subparagraph to the Commission by [ OP please insert the date= one year after the date of entry into force of this Regulation]. Power is delegated on the Commission to adopt the Regulatory Technical Standards referred to in the first subparagraph in accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.

Added9. Member States shall notify to the Commission the provisions of its law which it adopts pursuant to paragraph 6, by the date of application of this Regulation, and, without delay, any subsequent amendment affecting them.

Added9a. The provisions of Article 59 shall also apply to electronic communications service providers and online platforms.

AddedDefinitions

AddedFor the purposes of this Regulation, the following definitions apply:

Added(1) ‘home Member State’ means either of the following:

Added(a) the Member State in which the payment service provider has its registered office; or

Added(b) if the payment service provider has, under its national law, no registered office, the Member State in which the payment service provider has its head office;

Added(2) ‘host Member State’ means the Member State other than the home Member State in which a payment service provider has an agent, a distributor or a branch or provides payment services;

Added(3) ‘payment service’ means any business activity set out in Annex I;

Added(4) ‘payment institution’ means a legal person that has been granted authorisation in accordance with Article 13 of Directive (EU) [PSD3] to provide payment services or electronic money services throughout the Union;

Added(5) ‘payment transaction’ means an act of placing, transferring or withdrawing funds, based on a payment order placed by the payer, or on his behalf, or by the payee, or on his behalf, irrespective of any underlying obligations between the payer and the payee;

Added(6) ‘initiation of a payment transaction’ means the steps necessary to prepare the execution of a payment transaction, including the placement of a payment order and the completion of the authentication process;

Added(7) ‘remote initiation of a payment transaction’ means a payment transaction for which a payment order is placed via the internet;

Added(8) ‘execution of a payment transaction’ means the process starting once the initiation of a payment transaction is completed and ending once the funds placed, withdrawn, or transferred are available to the payee;

Added(9) ‘payment system’ means a funds transfer system with formal and standardised arrangements and common rules for the processing, clearing or settlement of payment transactions;

Added(10) ‘payment system operator’ means the legal entity legally responsible for operating a payment system;

Added(11) ‘payer’ means a natural or legal person who holds a payment account and places a payment order from that payment account, or, where there is no payment account, a natural or legal person who places a payment order;

Added(12) ‘payee’ means a natural or legal person who is the intended recipient of funds which are the subject of a payment transaction;

Added(13) ‘payment service user’ means a natural or legal person making use of a payment service or of an electronic money service in the capacity of payer, payee, or both;

Added(14) ‘payment service provider’ means a body as referred to in Article 2(1) or a natural or legal person benefiting from an exemption pursuant to Articles 34, 36 and 38 of Directive (EU) [PSD3];

Added(15) ‘payment account’ means an account held by a payment service provider in the name of one or more payment service users which is used for the execution of one or more payment transactions and allows for sending and receiving funds to and from third parties;

Added(16) ‘payment order’ means an instruction by a payer or payee to its payment service provider requesting the execution of a payment transaction;