2.

Paragraph 1 shall not apply to: payment systems designated under Directive 98/26/EC; payment systems composed exclusively of payment service providers belonging to a group composed of entities linked by capital where one of the linked entities enjoys effective control over the other linked entities; or payment systems where a sole payment service provider (whether as a single entity or as a group): acts or can act as the payment service provider for both the payer and the payee and is exclusively responsible for the management of the system, and licenses other payment service providers to participate in the system and the latter have no right to negotiate fees between or amongst themselves in relation to the payment system although they may establish their own pricing in relation to payers and payees.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.