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+Guideline 1: Specific payment instruments under Article 3(k) of PSD2 |
Guideline 1: Specific payment instruments under Article 3(k) of PSD21.1. Competent authorities should take into account that the specific payment instruments that can be used only in a limited way under Article 3(k) of PSD2 are payment instruments as defined in Article 4(14) of PSD2. Competent authorities should allow all different types of payment instruments under PSD2 to benefit from an exclusion under Article 3(k) of PSD2. 1.2. Competent authorities should take into account that the specific payment instruments can be used for acquiring both physical and digital goods and services. 1.3. Competent authorities should not impose any restrictions on the means of transferring funds to the payment instrument, which can be done through execution of payment transactions and/or through the issuance of electronic money. Competent authorities should take into account that, in the cases where funds are transferred to the payment instrument by using an intermediary other than the issuer, the transfer of funds should be considered as a separate payment service that does not fall within the scope of the service excluded under Article 3(k) of PSD2. 1.4. Competent authorities should check, when assessing the information provided by issuers that provide services based on a payment instrument falling under the scope of Article 3(k) of PSD2 within their jurisdiction, whether these issuers apply technical and contractual restrictions limiting the use of the payment instrument. Competent authorities should not consider the mere presence of a contract between the issuer and the holder of the payment instrument as a technical restriction. 1.5. The specific technical restrictions should at least apply to:
1.7. Competent authorities should take into account that a single card-based or other means of payment cannot accommodate simultaneously payment instruments within the scope of PSD2 and specific payment instruments within the scope of Article 3(k) of PSD2. 1.8. Competent authorities should take into account that issuers can issue more than one specific payment instrument under Article 3(k) of PSD2, provided that each payment instrument fulfils the requirements set out in these Guidelines. 1.9. Competent authorities should not take into account the redeemability of the monetary value stored on the payment instrument in the assessment of whether the payment instrument falls under the scope of Article 3(k) of PSD2. 1.10. Competent authorities should take into account that payment instruments falling under the scope of Article 3(k) of PSD2, which store monetary value on the payment instrument, can be either reloadable or for one-off use only. 1.11. Competent authorities should take into account that a single payment instrument excluded under Article 3(k) of PSD2 cannot benefit from more than one exclusion from the scope of application of PSD2, including other exclusions under Article 3(k) of PSD2. 1.12. The issuer of the specific payment instrument can be established in a Member State different from the Member State of the respective competent authority that has received the notification under Article 37(2) of PSD2. 1.13. Competent authorities should take into account that the exclusions under Article 3(k) of PSD2 should include, inter alia, transactions accepted by the issuer itself when the transaction is carried out within a network benefiting from an exclusion under Article 3(k) of PSD2 and the issuer itself is an acceptor in that network. 1. Overview
1.1 References1.2 Identified Requirements1.3 Related Standards2. Identified Requirements
3. Related Standards
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