# PSD3 Article 10 — Activities

Textual state: amended_substantial. 70 words changed

- Current text: Council final compromise text (Council document 8222/26) — not yet law.
- Compared against: COM(2023) 366 final — superseded.
- Classification is mechanical; method: https://paymentslaw.eu/method/
- Editorial review state: not_assessed. Markers are curated and selective, not a complete assessment.

Word-level diff, proposal → compromise: `{+text+}` was inserted, `[-text-]` was deleted.

## Paragraph 1

1. In addition to the provision of payment [-services or electronic money -]services, payment institutions shall be entitled to engage in the following activities: (a) the provision of operational and closely related ancillary services, [-including ensuring the execution of payment transactions, -]{+including, +}foreign exchange services, safekeeping activities, and the storage and processing of data; (b) the operation of payment systems; (c) business activities other than the provision of payment [-services or electronic money -]services, having regard to applicable Union and national law.

## Paragraph 2

2. [-Payment institutions that provide one or more -]{+For the purpose of providing +}payment [-services or electronic money -]services, {+payment institutions +}shall {+hold, or maintain for its payment service users, +}only [-hold -]payment accounts which are used exclusively for payment transactions.

## Paragraph 3

3. Any funds received by payment institutions from payment service users to provide payment [-or electronic money -]services shall not constitute a deposit or other repayable funds within the meaning of Article 9 of Directive 2013/36/EU.

## Paragraph 4

4. Payment institutions may grant credit relating to the payment services referred to in Annex I, [-point 2, only where all of -]{+points (2) to (4), subject to +}the following [-conditions have been met: -]{+conditions: +}(a) the credit is ancillary to, and granted exclusively in connection with, the execution of a payment transaction; (b) notwithstanding national rules, if any, on providing credit by issuers of credit cards, the credit granted in connection with a payment and executed in accordance with Article 13(6) and Article 30 is to be repaid within a {+reasonably +}short period, which shall in no case exceed 12 months; (c) the credit granted does not come from the funds received or held for executing a payment transaction or from the funds which have been received from payment services users in exchange [-of -]{+for +}electronic money and held in accordance with Article 9, [-paragraph 1; -]{+paragraphs 1 and 1a; +}(d) the own funds of the payment institution are at all times and to the satisfaction of the supervisory authorities appropriate in view of the overall amount of credit granted.

## Paragraph 5

5. Payment institutions shall not take deposits or other repayable funds within the meaning of Article 9 of Directive 2013/36/EU.

## Paragraph 6

6. Payment institutions that [-provide -]{+issue +}electronic money [-services -]shall exchange any funds, including cash or scriptural money, received by that payment institution from payment service users for electronic money without delay. Such funds shall neither constitute a deposit, nor other repayable funds received from the public within the meaning of Article 9 of Directive 2013/36/EC.

## Paragraph 7

7. This Directive shall be without prejudice to Directive 2008/48/EC, other relevant Union law or national measures regarding conditions for granting credit to consumers not harmonised by this Directive that comply with Union law.