SCHEDULE 1Payment Services

PART 1Payment services

1.  Subject to Part 2, the following, when carried out as a regular occupation or business activity, are payment services—

(a)services enabling cash to be placed on a payment account and all of the operations required for operating a payment account;

(b)services enabling cash withdrawals from a payment account and all of the operations required for operating a payment account;

(c)the execution of payment transactions, including transfers of funds on a payment account with the user’s payment service provider or with another payment service provider—

(i)execution of direct debits, including one-off direct debits;

(ii)execution of payment transactions through a payment card or a similar device;

(iii)execution of credit transfers, including standing orders;

(d)the execution of payment transactions where the funds are covered by a credit line for a payment service user—

(i)execution of direct debits, including one-off direct debits;

(ii)execution of payment transactions through a payment card or a similar device;

(iii)execution of credit transfers, including standing orders;

(e)issuing payment instruments or acquiring payment transactions;

(f)money remittance;

(g)payment initiation services;

(h)account information services.