fee-paying payment service provider
38 any of the following when they provide payment services: 39
- (a) a payment institution;
- (b) a full credit institution;
- 50(c) an electronic money issuer (except where it is an electronic money issuer whose only payment service activities are those relating to the issuance of electronic money by itself or if it is a credit union, a municipal bank or the National Savings Bank);50
- (d) the Post Office Limited;
- (e) the Bank of England, other than when acting in its capacity as a monetary authority or carrying out functions of a public nature; and
- (f) government departments and local authorities, other than when carrying out functions of a public nature.39
A full credit institution that is an EEA firm is only a fee-paying payment service provider if it is exercising an EEA right in accordance with Part 2 of Schedule 3 to the Act (exercise of passport rights) to provide payment services in the United Kingdom. An EEA authorised payment institution or an EEA authorised electronic money institution50 is only a fee-paying payment service provider if it is exercising a right under Article 25 of the Payment Services Directive or Article 3 of the Electronic Money Directive50 to provide payment services in the United Kingdom.39