--- instrument_id: psd-3 chunk_id: psd-3_t01 chunk_title: "SUBJECT MATTER, SCOPE AND DEFINITIONS" path: Title I source_class: operative_text document_type: proposal normative_weight: non_binding legal_status: council_compromise_text jurisdiction: EU effective_period: from: null to: null articles_contained: - 1 - 2 topics: - payments - payment_services - scope - general_provisions - definitions - authorisation - payment_systems - own_funds - financial_statements - consolidation --- # Title I - SUBJECT MATTER, SCOPE AND DEFINITIONS ## Article 1 - Subject matter and scope 1. This Directive lays down rules concerning: (a) access to the activity of providing payment services, within the Union, by payment institutions; (b) supervisory powers and tools for the supervision of payment institutions. 2. Member States may exempt the 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 Directive. 3. This Directive does not apply to services set out in Article 2(2) of the Regulation XXX [PSR], with the exception of Articles 37 and 39 of this Directive. ## Article 2 - Definitions For the purposes of this Directive, the following definitions apply: (1) ‘home Member State’ means either of the following: (a) the Member State in which the payment service provider has its registered office; or (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; (2) ‘host Member State’ means the Member State other than the home Member State in which a payment service provider has an agent or a branch or provides payment services; (3) ‘payment service’ means any business activity set out in Annex I; (4) ‘payment institution’ means a legal person that has been granted authorisation in accordance with Article 13 to provide payment services throughout the Union; (5) ‘payment transaction’ means a payment transaction as defined in Article 3, point (5), of Regulation XXX [PSR]; (6) ‘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means the process starting once the initiation of a payment transaction is completed and ending once the funds placed, withdrawn, or transferred are available to the payee; (7) ‘payment system’ means a payment system as defined in Article 3, point (9), of Regulation XXX [PSR]; (8) ‘payment system operator’ means a payment system operator as defined in Article 3, point (10), of Regulation XXX [PSR]; (9) ‘payer’ means a payer as defined in Article 3, point (11), of Regulation XXX [PSR]; (10) ‘payee’ means a payee as defined in Article 3, point (12), of Regulation XXX [PSR] ; (11) ‘payment service user’ means a payment service user as defined in Article 3, point (13), of Regulation XXX [PSR]; (12) ‘payment service provider’ means a payment service provider as defined in Article 3, point (14), of Regulation XXX [PSR]; (13) ‘payment account’ means a payment account as defined in Article 3, point (15), of Regulation XXX [PSR]; (14) ‘payment order’ means a payment order as defined in Article 3, point (16), of Regulation XXX [PSR]; (15) ‘payment instrument’ means a payment instrument as defined in Article 3, point (18), of Regulation XXX [PSR]; (16) ‘account servicing payment service provider’ means an account servicing payment service provider’ as defined in Article 3, point (19), of Regulation XXX [PSR]; (17) ‘payment initiation service’ means a payment initiation service as defined in Article 3, point (20), of Regulation XXX [PSR]; (18) ‘account information service’ means an account information service as defined in Article 3, point (21), of Regulation XXX [PSR]; (19) ‘payment initiation service provider’ means a payment initiation service provider as defined in Article 3, point (22), of Regulation XXX [PSR]; (20) ‘account information service provider’ means an account information service provider as defined in Article 3, point (23), of Regulation XXX [PSR]; (21) ‘consumer’ means a consumer as defined in Article 3, point (24), of Regulation XXX [PSR]; (22) ‘money remittance’ means a payment service where funds are received from a payer, without any payment accounts being created in the name of the payer or the payee, for the sole purpose of transferring a corresponding amount to a payee or to another payment service provider acting on behalf of the payee, or where such funds are received on behalf of and made available to the payee; (23) ‘funds’ means funds as defined in Article 3, point (30), of Regulation XXX [PSR] ; (24) ‘technical service provider’ means a technical service provider as defined in Article 3, point (36), of Regulation XXX [PSR]; (25) ‘sensitive payment data’ means sensitive payment data as defined in Article 3, point (38), of Regulation XXX [PSR]; (26) ‘business day’ means a business day as defined in Article 3, point (43), of Regulation XXX [PSR] (27) ‘Information and communications technology (ICT) services’ means ICT Services as defined in Article 3, point (21), of Regulation (EU) 2022/2554; (28) ‘agent’ means a natural or legal person who acts in the name and on behalf of a payment institution in providing payment services, and who either enters into possession of funds on behalf of the payment institution or is directly involved in the payment institution's provision of payment services; (29) ‘branch’ means a place of business other than the head office which is a part of a payment institution, which has no legal personality and which carries out directly some or all of the transactions inherent in the business of a payment institution; all of the places of business set up in the same Member State by a payment institution with a head office in another Member State shall be regarded as a single branch; (30) ‘group’ means a group of undertakings that are linked to each other by a relationship as referred to in Article 22(1), (2) or (7) of Directive 2013/34/EU of the European Parliament and of the Council19, or undertakings as referred to in Articles 4, 5, 6 and 7 of Commission Delegated Regulation (EU) No 241/201420, which are linked to each other by a relationship as referred to in Article 10(1) or Article 113(6), first subparagraph, or 113(7), first subparagraph of Regulation (EU) No 575/2013; (31) ‘acquiring of payment transactions’ means a payment service as defined in Article 3, point (48), of Regulation XXX [PSR]; 19 Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19). 20 Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (OJ L 74, 14.3.2014, p. 8). (32) ‘issuing of payment instruments’ means issuing of payment instruments as defined in Article 3, point (49), of Regulation XXX [PSR]; (33) ‘own funds’ means funds as defined in Article 4(1), point 118, of Regulation (EU) No 575/2013 where at least 75 % of the Tier 1 capital is in the form of Common Equity Tier 1 capital as referred to in Article 50 of that Regulation and Tier 2 capital is equal to or less than one third of Tier 1 capital; (34) ‘electronic money’ means electronic money as defined in Article 3(50) [PSR]; (35) ‘average outstanding electronic money’ means the average total amount of financial liabilities related to electronic money in issue at the end of each calendar day over the preceding six calendar months, calculated on the first calendar day of each calendar month and applied for that calendar month; (38) ‘ATM deployer’ means a natural or legal person providing cash withdrawal services as referred to in Annex I, point (1), and which is not an account servicing payment service provider and does not provide any other payment services referred to in Annex I; (39b) ‘applicant payment institution’ means an undertaking which has applied for authorisation based on Article 3 and of which the decision is still pending; (42) ‘electronic money token’ means an electronic money token as defined in Article 3(1), point (7), of Regulation (EU) 2023/1114.