EU Payment Services Directive (PSD2) PSD2-Art.1_2_3_4: Subject matter, scope and definitions (PSD2 Articles 1-4)

PSD2 Articles 1-4 establish the rules under which Member States must distinguish six categories of payment service providers (PSPs): credit institutions; e-money institutions; post-office giro institutions; payment institutions (PIs); ECB / national central banks acting in non-monetary-policy capacity; Member States / regional / local authorities acting in non-public-authority capacity (Article 1). Article 2 sets the territorial + currency scope including the 2-leg EU rule for all currencies + the one-leg-out rule for the parts of EU-side transactions in any currency (extending PSD1's two-leg-euro/EEA scope). Article 3 lists negative-scope exclusions including commercial-agent + limited-network + cash-machine + telecommunications (the limited-network and electronic-communication-services exclusions are narrower than under PSD1). Article 4 defines the 48 key terms including 'payment service' (Annex I list), 'payment institution', 'payment account', 'payment initiation service' (PIS), 'account information service' (AIS), 'payment service user' (PSU), 'consumer', 'micro-enterprise', 'strong customer authentication', 'sensitive payment data', 'unique identifier'.