Chapter II: Payment institutions

I. – Payment institutions are legal entities, other than credit institutions, electronic money institutions and the persons mentioned in II of article L. 521-1, which provide the payment services mentioned in article L. 314-1 on a regular professional basis. II. – Account information service providers are natural or legal persons, other than credit institutions, electronic money institutions, payment institutions and the persons mentioned in II of Article L. 521-1, who…

I. – In addition to providing the payment services mentioned in II of article L. 314-1, payment institutions may provide related services, such as book-entry foreign exchange services, custody services, data recording and processing, and guaranteeing the execution of payment transactions. II. – As part of their business of providing the payment services mentioned in 4° and 5° of II of Article L. 314-1, payment institutions may grant credit if…

I. – Without prejudice to the provisions of III of Article L. 522-8, payment institutions may engage in an activity other than the provision of payment services on a regular basis, subject to the legislative and regulatory provisions applicable to that activity. For these payment institutions carrying out hybrid activities, activities other than payment services must not be incompatible with the requirements of the profession, in particular the maintenance of…

I. – Accounts opened by payment institutions are payment accounts that are used exclusively for payment transactions. This exclusive purpose must be expressly provided for in the framework payment services contract governing the account. No funds may be invested in the customer’s name, even temporarily, in a savings or investment product. II. – Payment service users’ funds collected by payment institutions with a view to providing payment services do not…

Each payment institution is required to join a professional body affiliated to the French Association of Credit Institutions and Investment Firms mentioned in Article L. 511-29.

The institutions referred to in this chapter shall indicate in their annual report the amount and characteristics of the loans they finance or distribute that meet the definition referred to in III of article 80 of law no. 2005-32 of 18 January 2005 on social cohesion and benefit in this respect from public guarantees.