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of persons other than payment service providers from providing payment services and duty of notification","text":"","marks":[],"revision":1,"text_hash":"e3b0c44298fc1c149afbf4c8996fb92427ae41e4649b934ca495991b7852b855","reason":null},{"locator":"psd2/art/37/para/1","kind":"paragraph","status":"in_force","label":"1.","heading":null,"text":"Member States shall prohibit natural or legal persons that are neither payment service providers nor explicitly excluded from the scope of this Directive from providing payment services.","marks":[],"revision":1,"text_hash":"ee5ea80450c757a212379aab3ab7f3ae83dca601ae2c2e21c8783a871548434d","reason":null},{"locator":"psd2/art/37/para/2","kind":"paragraph","status":"in_force","label":"2.","heading":null,"text":"Member States shall require that service providers carrying out either of the activities referred to in points (i) and (ii) of point (k) of Article 3 or carrying out both activities, for which the total value of payment transactions executed over the preceding 12 months exceeds the amount of EUR 1 million, send a notification to competent authorities containing a description of the services offered, specifying under which exclusion referred to in point (k)(i) and (ii) of Article 3 the activity is considered to be carried out.","marks":[],"revision":1,"text_hash":"6c31715ff658fddfd24a67337aca6c4162a9ed0ede811307f9170819bd378723","reason":null},{"locator":"psd2/art/37/para/2/cont/1","kind":"continuation","status":"in_force","label":null,"heading":null,"text":"On the basis of that notification, the competent authority shall take a duly motivated decision on the basis of criteria referred to in point (k) of Article 3 where the activity does not qualify as a limited network, and inform the service provider accordingly.","marks":[],"revision":1,"text_hash":"15993504fe0ff791095ea0e9f69b997cace6c5615dc70261e9399d9d6a2b9b6b","reason":null},{"locator":"psd2/art/37/para/3","kind":"paragraph","status":"in_force","label":"3.","heading":null,"text":"Member States shall require that service providers carrying out an activity referred to in point (l) of Article 3 send a notification to competent authorities and provide competent authorities an annual audit opinion, testifying that the activity complies with the limits set out in point (l) of Article 3.","marks":[],"revision":1,"text_hash":"b071b97f7a023fd3fec2de4016db1bc7ab82619924195f55ea48b82b77e7b1d4","reason":null},{"locator":"psd2/art/37/para/4","kind":"paragraph","status":"in_force","label":"4.","heading":null,"text":"Notwithstanding paragraph 1, competent authorities shall inform EBA of the services notified pursuant to paragraphs 2 and 3, stating under which exclusion the activity is carried out.","marks":[],"revision":1,"text_hash":"c6ca1a0379713a4aa6636ff617828557589522427408598f010a6a31b4f6b271","reason":null},{"locator":"psd2/art/37/para/5","kind":"paragraph","status":"in_force","label":"5.","heading":null,"text":"The description of the activity notified under paragraphs 2 and 3 of this Article shall be made publicly available in the registers provided for in Articles 14 and 15.","marks":[],"revision":1,"text_hash":"c5a65b9b6dfdcc33f2592733c7a1f54600ae3814c7d09f874ee2bba3fb43cce7","reason":null}],"markdown":"*In force · Consolidated version of 17 January 2025 · Verified 9 Nov 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02015L2366-20250117)*\n\n1. <a id=\"p-1\"></a>Member States shall prohibit natural or legal persons that are neither payment service providers nor explicitly excluded from the scope of this Directive from providing payment services.\n2. <a id=\"p-2\"></a>Member States shall require that service providers carrying out either of the activities referred to in points (i) and (ii) of point (k) of [Article 3](3.md) or carrying out both activities, for which the total value of payment transactions executed over the preceding 12 months exceeds the amount of EUR 1 million, send a notification to competent authorities containing a description of the services offered, specifying under which exclusion referred to in point (k)(i) and (ii) of [Article 3](3.md) the activity is considered to be carried out.\n\n    On the basis of that notification, the competent authority shall take a duly motivated decision on the basis of criteria referred to in point (k) of [Article 3](3.md) where the activity does not qualify as a limited network, and inform the service provider accordingly.\n3. <a id=\"p-3\"></a>Member States shall require that service providers carrying out an activity referred to in point (l) of [Article 3](3.md) send a notification to competent authorities and provide competent authorities an annual audit opinion, testifying that the activity complies with the limits set out in point (l) of [Article 3](3.md).\n4. <a id=\"p-4\"></a>Notwithstanding paragraph 1, competent authorities shall inform EBA of the services notified pursuant to paragraphs 2 and 3, stating under which exclusion the activity is carried out.\n5. <a id=\"p-5\"></a>The description of the activity notified under paragraphs 2 and 3 of this Article shall be made publicly available in the registers provided for in [Articles 14](14.md) and [15](15.md).\n\n***\n\n[Title II — Payment service providers](../titles/ii.md) · [← Article 36](36.md) · [Article 38 →](38.md)\n"}