On 15 July 2021, the European Banking Authority (EBA) started a public consultation on the document Guidelines on the limited network exclusion under PSD2, which sets out the prerequisites for the exclusion from the scope of application of Directive (EU) 2015/2366 of the European Parliament and Council - also called Payment Services Directive 2 (PSD2) - of services based on specific payment instruments that can be used only in a limited way (i.e. cards that can be spent at large scale retailers, fuel cards, parking/toll payment cards/devices).
Article 3(k) of PSD2 excludes from the scope of application of the directive, services based on specific payment instruments that can be used only: a) to acquire a very limited range of goods or services; b) to acquire goods or services only in the premises of the issuer or within a limited network of service providers under direct commercial agreement with the issuer.
Upon exceeding the threshold of one million euros of payments on an annual basis, the issuers of these instruments are obliged to notify the respective national competent authority (in Italy, the Bank of Italy); having verified that they meet the requirements for exemption from the application of PSD2, these entities are then included in a national register and in the corresponding register held by the EBA.
The numerous queries received by the European Commission and the EBA have highlighted significant differences in assessments by the competent national authorities of the aforementioned exemptions. For this reason, the EBA will issue guidelines with the aim of ensuring greater harmonization between Member States.
Comments on the public consultation can be sent to the EBA no later than 15 October 2021. Please find below the links to the EBA web page where the guidelines and the section for responding to the public consultation are available.
