# PSD3 Article 20 — Distributors of electronic money services

Textual state: deleted. Deleted in the compromise text.

- 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- Compared against: COM(2023) 366 final — superseded.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 (removed)

[-1. Member States shall allow payment institutions that provide electronic money services to distribute and redeem electronic money through distributors.-]

## Paragraph 2 (removed)

[-2. Member States shall ensure that payment institutions that intend to provide electronic money services through a distributor apply the requirements laid down in Article 19 mutatis mutandis.-]

## Paragraph 3 (removed)

[-3. Where the payment institution intends to distribute electronic money services in another Member State by engaging a distributor, Articles 30 to 33, with exception of Article 31(4) and (5) of this Directive, including the delegated acts adopted in accordance with Article 30(5) of this Directive, shall apply mutatis mutandis to such payment institution.-]