# PSD3 Article 44 — Transitional provisions

Textual state: amended_substantial. 369 words changed; 3 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- Compared against: COM(2023) 366 final — superseded.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. Member States shall allow payment institutions that have been authorised pursuant to Article 11 of Directive (EU) 2015/2366 by [-[OP please insert the date = 18 -]{+... [21 +}months after the date of entry into force of this Directive] to continue to provide and execute the payment services for which they have been authorised, without having to [-having to -]seek {+a new +}authorisation in accordance with Article 3 of this Directive or to comply with the other provisions laid down or referred to in Title II of this Directive until [-[OP please insert the date = 24 -]{+... [27] +}months after the date of entry into force of this Directive]. Member States shall require such payment institutions as referred to in the first subparagraph to submit to the competent authorities [-all -]{+the +}information [-that enables -]{+necessary for +}those competent authorities to assess, by [-[OP please insert the date = 24 -]{+... [27] +}months after the date of entry into force of this Directive], either of the following: (a) whether those payment institutions comply with [-Title II -]{+Article 3(3), points (c), (d), (e), (f), (h), (r) and (s), +}and, where not, which measures need to be taken to ensure compliance; (b) whether the authorisation should be withdrawn. Payment institutions as referred to in the first subparagraph which upon verification by the competent authorities comply with Title II shall be {+deemed to be +}authorised as payment institutions pursuant to Article 13 of this Directive and shall be entered in the registers referred to in Articles 17 and 18. Where those payment institutions do not comply with the requirements laid down in Title II by [-[OP please insert the date = 24 -]{+... [27 +}months after the date of entry into force of this Directive], they shall be [-prohibited -]{+suspended +}from providing payment [-services. -]{+services until they provide to the relevant competent authority the necessary information which ensures their compliance with Title II and competent authority has verified and confirmed the accuracy of that information.+}

## Paragraph 2

2. {+By way of derogation from paragraph 1, second subparagraph, +}Member States [-may -]{+shall +}provide for payment institutions as referred to in paragraph 1 to be authorised automatically and be entered in the register referred to in [-Articles -]{+Article +}17 if the competent authorities have evidence that those payment institutions already comply with Articles 3 and 13. The competent authorities shall inform the payment institutions concerned of such automatic authorisation before the authorisation is granted.

## Paragraph 3

3. Member States shall allow natural or legal persons who benefited from an exemption pursuant to Article 32 of Directive (EU) 2015/2366 by [-[OP please insert the date = 18 -]{+... [21 +}months after the date of entry into force of this Directive], and provided payment services as referred to in Annex I to that Directive, to do any of the following: (a) to continue to provide those services within the Member State concerned until [-[OP please insert the date = 24 -]{+... [27 +}months after the date of entry into force of this Directive]; (b) to obtain an exemption pursuant to Article 34 of this Directive or, (c) to comply with the other provisions laid down or referred to in Title II of this Directive. Any person as referred to in the first subparagraph who has not, by [-[OP please insert the date = 18 -]{+... [21 +}months after the date of entry into force of this Directive], been authorised or exempted under this Directive shall be [-prohibited -]{+suspended +}from providing payment [-services. -]{+services until that person provides to the relevant competent authority the necessary information and that competent authority has verified and confirmed the accuracy of that information. Article 34(7) shall apply.+}

## Paragraph 4

4. {+By way of derogation from paragraph 3, first subparagraph, point (b), +}Member States may [-grant -]{+provide for +}natural and legal persons who benefited from an exemption pursuant to Article 32 of Directive (EU) 2015/2366 [-an exemption -]{+to be exempted +}pursuant to Article 34 of this Directive and [-enter those persons -]{+to be entered +}in the registers referred to in Articles 17 and 18 of this Directive where the competent authorities have evidence that the requirements laid down in Article 34 of this Directive are complied with. The competent authorities shall inform the payment institutions concerned thereof.

## New paragraph 4a

{+4a. Member States shall ensure that ATM deployers not servicing payment accounts that are operating in the market pursuant to Article 3, point (o) of Directive (EU) 2015/2366 by ... [21 months after the date of entry into force of this Directive] may continue to provide this service without having to seek registration in accordance with Article 38 or to comply with the other provisions laid down or referred to in Title II until ... [27 months after the date of entry into force of this Directive].+}

## New paragraph 4b

{+4b. Member States shall ensure that in relation to the institutions mentioned in paragraphs 1 to 4, the register referred to in Article 17 is updated [one week after ... [27 months after the date of entry into force of this Directive].+}

## New paragraph 4c

{+4c. Pursuant to Article 18, competent authorities shall provide the EBA, in relation to the institutions referred to in paragraph 4b of this Article, with the information entered in their register referred to in Article 17, immediately after the update of that register pursuant to paragraph 4b of this Article.+}