Activities of Marek BELKA related to 2023/0209(COD)
Shadow reports (1)
REPORT on the proposal for a directive of the European Parliament and of the Council on payment services and electronic money services in the Internal Market amending Directive 98/26/EC and repealing Directives 2015/2366/EU and 2009/110/EC
Amendments (24)
Amendment 56 #
Proposal for a directive
Recital 6
Recital 6
(6) As evidenced in the review conducted by the Commission and given the evolution of the respective markets, businesses and risks attached to the activities, it is necessary to update the prudential regime for payment institutions, including those issuing electronic money and providing electronic money services, by requiring a single licence for providers of payment services and electronic money services not taking deposits. Given that Regulation (EU) 2023/1114 of the European Parliament and of the Council32 lays down in its Article 48(2) that that issuers of electronic money tokens shall be deemed to be electronic money institutions, the licensing regime for payment institutions, as they will replace the electronic money institutions, should also apply to issuers of electronic money tokens. The prudential regime applicable to payment institutions should be based on an authorisation, subject to a set of strict and comprehensive conditions, for legal persons offering payment services when not taking deposits. The prudential regime applicable to payment institutions should ensure that the same conditions apply Union-wide to the activity of providing payment services. __________________ 32 Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937 (OJ L 150, 9.06.2023, p. 40).
Amendment 58 #
Proposal for a directive
Recital 10
Recital 10
(10) Given the emergence of new types of payment instruments, the technological solutions that can serve as a basis for such instruments, and the uncertainties prevailing in the market as to their legal qualification, the definition of a ‘payment instrument’ should be further specified as to what constitutes or does not constitute a payment instrument, bearing in mind the principle of technology neutrality.
Amendment 59 #
Proposal for a directive
Recital 12
Recital 12
(12) The definition of ‘payment instrument’ under Directive (EU) 2015/2366 made reference to a ‘personalised device’. Since there are pre- paid cards where the name of the holder of the instrument is not printed on the card, this could leave those cards outside the scope of the definition of a payment instrument. The definition of ‘payment instrument’ should, therefore, be amended to refer to ‘individualised’ devices, instead of ‘personalised’ ones, specifying that pre- paid cards where the name of the holder of the instrument is not printed on the card are payment instruments. A technical account used only to repay a credit line granted exclusively in the connection with a payment transaction should also not fall within the definition of a payment account.
Amendment 60 #
Proposal for a directive
Recital 13
Recital 13
(13) So-called digital ‘pass-through wallets’, involving the tokenisation of an existing payment instrument, including a payment card, are not to be considered as technical services, and. They should thusnot be excluded from the definition of payment instrument as a token cannot be regarded as being itself a payment instrument but, rather, a payment application within the meaning of Article 2, point (21) of Regulation (EU) 2015/75 of the European Parliament and of the Council33 . Howe. Moreover, some other categories of digital wallets, namely pre-paid electronic wallets such as ‘staged-wallets’ where users can store money for future online transaction, are to be considered a payment instrument and their issuance as a payment service. __________________ 33 Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card- based payment transactions (OJ L 123, 19.5.2015, p. 1).
Amendment 61 #
Proposal for a directive
Recital 13
Recital 13
(13) So-called digital ‘pass-through wallets’, involving the tokenisation of an existing payment instrument, including a payment card, are to be considered as technical services, and should thus be excluded from the definition of payment instrument as a token cannot be regarded as being itself a payment instrument but, rather, a payment application within the meaning of Article 2, point (21) of Regulation (EU) 2015/751 of the European Parliament and of the Council33 . However, some other categories of digital wallets, namely pre-paid electronic wallets such as ‘staged-wallets’ where users can store money for future online transaction, are to be considered a payment instrument and their issuance as a payment service. __________________ 33 Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card- based payment transactions (OJ L 123, 19.5.2015, p. 1).
Amendment 66 #
Proposal for a directive
Recital 37 a (new)
Recital 37 a (new)
(37 a) In order for payment institutions to truly engage in cross-border services, the Commission should provide a certain Internet website or a one-stop shop with all of the information in one place on how to register in particular Member States.
Amendment 70 #
Proposal for a directive
Recital 62
Recital 62
(62) To further improve access to cash, which is a priority of the Commission, retailers should be allowed to offer, in physical shops, cash provision services even in the absence of a purchase by a customer, without having to obtain a payment service provider authorisation, registration or being an agent of a payment institution. Those cash provision services should, however, be subject to the obligation to disclose fees charged to the customer, if any. These services should be provided by retailers on a voluntary basis and should depend on the availability of cash byat the retailer. To prevent unfair competition between ATM deployers not servicing payment accounts and retailers offering cash withdrawals without a purchase, and to ensure that shops do not rapidly run out of cash, it is appropriate to impose a cap of EUR 50100 or the relevant amount in the currency of the Member State concerned per transaction.
Amendment 71 #
Proposal for a directive
Recital 68
Recital 68
(68) This Directive does not include licensing requirements for payment systems, payment schemes or payment arrangements, taking into account the need to avoid any duplication with the Eurosystem’s oversight framework over retail payment systems, including over Systemically Important Payment Systems and other systems, as well as the Eurosystem’s new ‘PISA’ Framework, and oversight by national central banks. This Directive also does not cover, in its scope, the provision of technical services including processing or the operation of digital wallets. However, considering the pace of innovation in the payments sector and the possible emergence of new risks, it is necessary that in its future review of this Directive the Commission gives particular consideration to those developments and assesses whether the scope of the Directive should be extended to cover new services and entities.
Amendment 72 #
Proposal for a directive
Recital 71
Recital 71
(71) Payment institutions are not included in the list of entities which fall under the definition of “institutions” in Article 2, point (b) of Directive 98/26/EC of the European Parliament and of the Council47 . Consequently, payment institutions are effectively prevented from participating in payment systems designated by Member States pursuant to that Directive. That lack of access to certain key payment systems can impede payment institutions in providing a full range of payment services to their clients effectively and competitively. It is therefore justified to include payment institutions under the definition of ‘institutions’ in that Directive, but only for the purpose of payment systems, and not for securities settlement systems. Therefore it is welcomed that this step was already taken through the Instant Payments Regulation. Payment institutions should meet the requirements and respect the rules of payment systems to be allowed to participate in those systems. Regulation XXX [PSR] lays down requirements on operators of payment systems regarding the admission of new applicants for participation, including as regards an assessment of relevant risks. Given the importance of restoring as soon as possible the level playing field between banks and ‘non-banks’ and considering the impact that the current situation causes to competition in payment markets, it is necessary to grant Member States a shorter transposition and application deadline for this new provision in Directive 98/26/EC than for the other provisions of the present Directive. It is therefore appropriate to require Member States to transpose that new provision into their national law within 6 months of the entry into force of this Directive, rather than the 18 months that applies for the other provisions of this Directive. __________________ 47 Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166, 11.6.1998, p. 45).
Amendment 73 #
Proposal for a directive
Recital 77
Recital 77
(77) The European Data Protection Supervisor was consulted in accordance with Article 42(1) of Regulation (EU) 2018/1725 and delivered an opinion on [XX XXthe 22nd of August 2023],
Amendment 76 #
Proposal for a directive
Article 2 – paragraph 1 – point 24
Article 2 – paragraph 1 – point 24
(24) ‘technical service provider’ means a provider of services which, although not being payment services, are necessary to supports the provision of payment services, without the provider of technical services entering at any time into possession of the funds to be transferred;
Amendment 78 #
Proposal for a directive
Article 2 – paragraph 1 – point 27
Article 2 – paragraph 1 – point 27
(27) ‘Information and communications technology (ICT) services’ means ICT Services as defined in Article 3, point 21, of Regulation (EU) 2022/2554;
Amendment 79 #
Proposal for a directive
Article 2 – paragraph 1 – point 30
Article 2 – paragraph 1 – point 30
(30) ‘group’ means a group of undertakings that are linked to each other by a relationship as referred to in Article 22(1), points (2) or (7) of Directive 2013/34/EU of the European Parliament and of the Council51 , or undertakings as referred to in Articles 4, 5, 6 and 7 of Commission Delegated Regulation (EU) No 241/201452 , which are linked to each other by a relationship as referred to in Article 10(1) or Article 113(6), first subparagraph, or 113(7), first subparagraph of Regulation (EU) No 575/2013; __________________ 51 Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19). 52 Commission Delegated Regulation (EU) No 241/2014 of 7 January 2014 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for Own Funds requirements for institutions (OJ L 74, 14.3.2014, p. 8).
Amendment 83 #
Proposal for a directive
Article 2 – paragraph 1 – point 38
Article 2 – paragraph 1 – point 38
(38) ‘ATM deployer’ means operators of automated teller machines who do not servicehold payment accounts.
Amendment 97 #
Proposal for a directive
Article 17 – paragraph 1 – subparagraph 1 – point a
Article 17 – paragraph 1 – subparagraph 1 – point a
(a) payment institutions authorised in accordance with Article 13 and their agents and their agents or distributors, if any;
Amendment 98 #
Proposal for a directive
Article 19 – paragraph 1 – introductory part
Article 19 – paragraph 1 – introductory part
1. Payment institutions that intend to provide payment and other than e-money services, through agents shall communicate to the competent authorities in their home Member State all of the following information:
Amendment 103 #
Proposal for a directive
Article 21 – paragraph 1
Article 21 – paragraph 1
1. Member States shall require fromthat a payment institutions that intends to provide payment services in another Member State by establishing a branch, or that intends to provide payment services in a Member State other than theirits home Member State via a branch located in a third Member State, follow the procedures set out in Article 30.
Amendment 104 #
Proposal for a directive
Article 30 – paragraph 1 – subparagraph 2
Article 30 – paragraph 1 – subparagraph 2
Member States shall ensure that payment institutions that intend to outsource operational functions of the payment or electronic money services to other entities in the host Member State, inform the competent authorities of their home Member State thereof without undue delay.
Amendment 105 #
Proposal for a directive
Article 30 – paragraph 1 a (new)
Article 30 – paragraph 1 a (new)
1 a. The Commission shall create a dedicated Internet website with all of the information in one place on how payment institutions can register in each Member State.
Amendment 110 #
Proposal for a directive
Article 36 – paragraph 5 – subparagraph 2
Article 36 – paragraph 5 – subparagraph 2
As an alternative to holding a professional indemnity insurance as required in paragraphs 3 and 4, the undertakings as referred to in paragraph 1 shall hold an initial capital of EUR 50 000, which canmight be replaced by a professional indemnity insurance after those undertakings have commenced their activity as a payment institution, without undue delay.
Amendment 111 #
Proposal for a directive
Article 37 – paragraph 1 – point b
Article 37 – paragraph 1 – point b
(b) the amount of cash provided does not exceed EUR 50100 or the relevant amount in the currency of the Member State concerned per withdrawal.
Amendment 117 #
Proposal for a directive
Article 38 – paragraph 4 a (new)
Article 38 – paragraph 4 a (new)
4 a. The fees and information, as well as when and how they should be provided to the PSUs, that should be displayed by the ATM shall comply with the rules set out in the Regulation XXX (PSR).
Amendment 120 #
Proposal for a directive
Article 43 – paragraph 1 – subparagraph 1 – point a
Article 43 – paragraph 1 – subparagraph 1 – point a
(a) the appropriateness of the scope of this Directive, in particular regarding the possibility of extending it to certain services, including the operation of payment systems and the provision of technical services including processing or the operating of digital wallets, which are not covered in the scope;
Amendment 136 #
Proposal for a directive
Article 46
Article 46