payment service

71 231(in accordance with regulation 2(1) of, and Schedule 1 to, the Payment Services Regulations):

1. (a) Any of the following activities when carried out as a regular occupation or business activity:
   1. (i) services enabling cash to be placed on a payment account and all of the operations required for operating a payment account;
   2. (ii) services enabling cash withdrawals from a payment account and all of the operations required for operating a payment account;
   3. (iii) execution of the following types of payment transaction:
      1. (A) direct debits, including one-off direct debits;
      2. (B) payment transactions executed through a payment card or a similar device;
      3. (C) credit transfers, including standing orders;
   4. (iv) execution of the following types of payment transaction where the funds are covered by a credit line for the payment service user:
      1. (A) direct debits, including one-off direct debits;
      2. (B) payment transactions executed through a payment card or a similar device;
      3. (C) credit transfers, including standing orders;
   5. (v) issuing payment instruments or acquiring payment transactions;
   6. (vi) money remittance;
   7. (vii) execution of payment transactions where the consent of the payer to execute the payment transaction is given by means of any telecommunication, digital or IT device and the payment is made to the telecommunication, IT system or network operator, acting only as an intermediary between the payment service user and the supplier of the goods or services.
2. (b) The following activities do not constitute payment services:
   1. (i) payment transactions executed wholly in cash and directly between the payer and the payee, without any intermediary intervention;
   2. (ii) payment transactions between the payer and the payee through a commercial agent authorised to negotiate or conclude the sale or purchase of goods or services on behalf of the payer or the payee;
   3. (iii) the professional physical transport of banknotes and coins, including their collection, processing and delivery;
   4. (iv) payment transactions consisting of non-professional cash collection and delivery as part of a not-for-profit or charitable activity;
   5. (v) services where cash is provided by the payee to the payer as part of a payment transaction for the purchase of goods or services following an explicit request by the payer immediately before the execution of the payment transaction;
   6. (vi) money exchange business consisting of cash-to-cash operations where the funds are not held on a payment account;
   7. (vii) payment transactions based on any of the following documents drawn on the payment service provider with a view to placing funds at the disposal of the payee:
      1. (A) paper cheques of any kind, including traveller's cheques;
      2. (B) bankers' drafts;
      3. (C) paper-based vouchers;
      4. (D) paper postal orders;
   8. (viii) payment transactions carried out within a payment or securities settlement system between payment service providers and settlement agents, central counterparties, clearing houses, central banks or other participants in the system;
   9. (ix) payment transactions related to securities asset servicing, including dividends, income or other distributions, or redemption or sale, carried out by persons referred to in (h) or by investment firms, full credit institutions, collective investment undertakings, asset management companies providing investment services or by any other entities allowed to have the custody of financial instruments;
   10. (x) services provided by technical service providers, which support the provision of payment services, without the provider entering at any time into possession of the funds to be transferred, including:
       1. (A) the processing and storage of data;
       2. (B) trust and privacy protection services;
       3. (C) data and entity authentication;
       4. (D) information technology;
       5. (E) communication network provision; and
       6. (F) the provision and maintenance of terminals and devices used for payment services;
   11. (xi) services based on instruments that can be used to acquire goods or services only:
       1. (A) in or on the issuer's premises; or
       2. (B) under a commercial agreement with the issuer, either within a limited network of service providers or for a limited range of goods or services,
       and for these purposes the "issuer" is the person who issues the instrument in question;
   12. (xii) payment transactions executed by means of any telecommunication, digital or IT device, where the goods or services purchased are delivered to and are to be used through a telecommunication, digital or IT device, provided that the telecommunication, digital or IT operator does not act only as an intermediary between the payment service user and the supplier of the goods and services;
       1. (A) payment transactions carried out between payment service providers, or their agents or branches, for their own account;
       2. (B) payment transactions between a parent undertaking and its subsidiary or between subsidiaries of the same parent undertaking, without any intermediary intervention by a payment service provider other than an undertaking belonging to the same group;
       3. (C) services by providers to withdraw cash by means of automated teller machines acting on behalf of one or more card issuers, which are not party to the framework contract with the customer withdrawing money from a payment account, where no other payment service is conducted by the provider.
       payment transactions executed by means of any telecommunication, digital or IT device, where the goods or services purchased are delivered to and are to be used through a telecommunication, digital or IT device, provided that the telecommunication, digital or IT operator does not act only as an intermediary between the payment service user and the supplier of the goods and services;
   [Note: articles 3 and 4(3) of, and the Annex to, the Payment Services Directive]