Section 1: Definitions

I. - A payment account is an account held in the name of one or more persons and used to carry out payment transactions.

II. - The following are payment services

1° Services enabling cash to be paid into a payment account and management of a payment account;

2° Services enabling cash to be withdrawn from a payment account and payment account management transactions;

3° Execution of the following payment transactions associated with a payment account:

a) Direct debits, including direct debits authorised on a one-off basis ;

b) Payment transactions made with a payment card or similar device;

c) Credit transfers, including standing orders;

4° Execution of the following payment transactions associated with a credit facility:

a) Direct debits, including direct debits authorised on a one-off basis;

b) Payment transactions carried out using a payment card or similar device;

c) Credit transfers, including standing orders;

5° Issuing payment instruments and/or acquiring payment transactions;

6° Money transmission services;

7° Payment initiation services;

8° Account information services.

III. - The following are not considered to be payment services

1° The performance of transactions based on one of the following documents, drawn on the payment service provider with a view to making funds available to the beneficiary:

a) A paper-based service voucher ;

b) A paper-based traveller's cheque;

c) A paper postal order as defined by the Universal Postal Union;

2° The performance of payment transactions relating to the servicing of securities, including the distribution of dividends, income or other amounts, redemptions or sales, carried out within a payment or securities settlement system between settlement agents, central counterparties, clearing houses or central banks and other system participants, and payment service providers or by investment firms, credit institutions, collective investment undertakings or portfolio management companies providing investment services and any other entity authorised to hold financial instruments in custody;

3° Carrying out payment transactions from the payer to the payee, through a person authorised by contract to negotiate or conclude the sale or purchase of goods or services on behalf of the payer only or the payee only;

4° The execution of payment transactions between a parent undertaking and its subsidiary, or between subsidiaries of the same parent undertaking, or within a group within the meaning of Article L. 133-4, without any payment service provider other than an undertaking in the same group acting as intermediary, and the centralisation of payment orders on behalf of a group by a parent undertaking or its subsidiary for subsequent transmission to a payment service provider;

5° The provision of cash withdrawal services through ATMs by service providers acting on behalf of one or more card-issuing payment service providers who are not party to the framework contract with the customer withdrawing money from a payment account, provided that these cash withdrawal service providers are not themselves payment service providers. Where applicable, the user shall be informed of any charges in accordance with the conditions set out in the first paragraph of I and V of Article L. 314-11 and IV of Article L. 314-7 before making the withdrawal and on receipt of the cash at the end of the withdrawal transaction;

6° The provision of services for which cash is provided by the payee for the benefit of the payer as part of a payment transaction, at the express request of the payment service user made immediately prior to execution of the payment transaction via a payment for the purchase of goods or services;

7° The provision of services by a technical service provider in support of the provision of payment services, without the service provider at any time coming into possession of the funds to be transferred and consisting in particular of data processing and recording, privacy protection services, data and entity authentication, information technology and the provision of communication networks, as well as the provision and maintenance of terminals and devices used for payment services, with the exception of payment initiation services and account information services.