(1)

Article 2 is amended as follows: the following points are inserted: (*1) Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC (OJ L 337, 23.12.2015, p. 35).’;" “instant credit transfer” means a credit transfer which is executed immediately, 24 hours a day and on any calendar day; “payment initiation channel” means any method, device or procedure through which payers can place payment orders with their PSP for a credit transfer, including online banking, a mobile banking application, an automated teller machine, or in any other way on the premises of the PSP; “payment initiation service provider” means a payment initiation service provider as defined in Article 4, point (18), of Directive (EU) 2015/2366 of the European Parliament and of the Council (*1); “name of the payee” means, in respect of a natural person, the name and surname and, in respect of a legal person, the commercial or legal name; “targeted financial restrictive measure” means an asset freeze imposed on a person, body or entity or a prohibition on making funds or economic resources available to a person, body or entity, or for its benefit, either directly or indirectly, pursuant to restrictive measures adopted in accordance with Article 215 TFEU; “Legal Entity Identifier” or “LEI” means a unique alphanumeric reference code based on the ISO 17442 standard assigned to a legal entity; point (5) is replaced by the following: “payment account” means a payment account as defined in Article 4, point (12), of Directive (EU) 2015/2366;’; point (22) is replaced by the following: “retail payment system” means a payment system the main purpose of which is to process, clear or settle credit transfers or direct debits which are primarily of small amount, and that is not a large-value payment system;’;

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Source: EUR-Lex CELLAR · retrieved 2026-08-27 · Text as adopted (Official Journal); later amendments are not incorporated in this text.