# PSD3 Article 19 — Use of agents

Textual state: amended_substantial. 177 words changed; 2 paragraphs added

- 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- Compared against: COM(2023) 366 final — superseded.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. Payment institutions that intend to provide payment services through agents shall communicate to the competent authorities in their home Member State all of the following information: (a) the [-name -]{+name, +}and {+where applicable, the legal name, the +}address of the [-agent; -]{+agent and the address(es) from which the agent offers payment services; +}(b) an up-to-date description of the internal control mechanisms that the agent will use to comply with Directive (EU) 2015/849; (c) the identity of directors and the other persons responsible for the management of the agent and, where the agent is not a payment service provider, evidence that those persons are fit and proper for their tasks; (d) the payment services provided by the payment institution for which the agent is mandated; (e) where applicable, the unique identification code or number of the [-agent. -]{+agent; (ea) a clear description of the proposed business model of the agent; (eb) the address of the website of the agent where the agent offers payment services through a website; (ec) for legal persons, proof of incorporation of the legal entity; (ed) an overview of the flow of funds and operational processing of the intended payment transactions.+}

## Paragraph 2

2. Member States shall ensure that the competent authorities of the home Member State communicate to the payment institution within [-2 months -]{+six weeks +}of receipt of the information referred to in paragraph 1 whether the agent has been entered in the register referred to in Article 17. Upon entry in the register, the agent may commence providing payment services.

## Paragraph 3

3. Before listing the agent in the register referred to in Article 17, the competent authorities shall, where they consider that the information referred to in paragraph 1 is incorrect, take further action to verify the information.

## Paragraph 4

4. Where, after having verified the information referred to in paragraph 1, the competent authorities are not satisfied that that information is correct, they shall refuse to list the agent in the register referred to in Article 17 and shall inform the payment institution thereof without undue delay.

## Paragraph 5

5. Member States shall ensure that payment institutions that wish to provide payment services in another Member State by engaging an agent, or that intend to provide payment services in a Member State other than its home Member State via an agent located in a third Member State, follow the procedures set out in Article 30.

## Paragraph 6

6. Member States shall ensure that payment institutions inform their payment service users of the fact that an agent is acting on their behalf.

## Paragraph 7

7. Member States shall ensure that payment institutions communicate to the competent authorities of their home Member State any change regarding the use of agents, including about additional agents, without undue delay and in accordance with the procedure provided for in paragraphs 2, 3 and 4.

## New paragraph 7a

{+7a. Where the payment institution wishes to distribute or redeem electronic money in another Member State through a natural or legal person, Articles 29 to 33, with the exception of Article 30(1), point (e), and Article 31(4)-(7) of this Directive, shall apply mutatis mutandis to such payment institution. For the purposes of complying with Article 30(1), point (d), payment institutions shall not be required to provide the information referred to in paragraph 1, points (c), (ec) and (ed) of this Article, regarding such a natural or legal person.+}

## New paragraph 7b

{+7b. Payment institutions shall not issue electronic money through agents.+}