1 Cape. Scope and definitions



The scope of the law



section 1 of this Act contains provisions on payment services

provided in Sweden and are carried out within the European

economic area (EEA) in euro or in any other

of the EEA-countries ' currencies.



This law also provides rules for payment institutions and

registered payment service providers.



Definitions



2 § With payment services referred to in this law



1. services which make it possible to put on and take off

cash from a payment account as well as the operations required

for the management of the account,



2. execution of payment transactions, including

transfer of funds which may also be covered by a credit line,

by



(a)) direct debit,



(b)) credit card or other payment instrument, or



c) account-based payments,



3. the issuing of payment instruments;



4. redemption of transaction amounts where a payment instrument

has been used,



5. money transfer, or



6. execution of payment transactions where the



(a)) the payer approves transaction with some form of

equipment for telecommunications, digital technology or

information technology, and



b) payment is made to the system operator, which will only work

as an intermediary between the payment service user and the supplier

of the goods or services.



3 § With payment service providers for the purposes of this law the following

payment service providers:



1. banks and credit market companies under the Act (2004:297) om

banking and finance law,



2. electronic money institutions and undertakings

been exempted from licence under the Act (2011:755) on

electronic money,



3. payment institutions and the natural or legal persons

exempted from the permit requirement referred to in Chapter 2. 3 §,



4. State and municipal authorities, when they are not busy

for the exercise of public authority,



5. foreign physical and legal persons and authorities

within the EEA, analogous to those in 1 – 4 with the exception of such physical

or legal persons who have been excluded from

obtain a permit under the national provisions transposing the

European Parliament and Council Directive 2007/64/EC on

payment services in the internal market and amending

Directives 97/7/EC, 2002/65/EC, 2005/60/EC and 2006/48/EC and

repeal of Directive 97/5/EC,



6. the European central bank and national central banks in

other EEA-countries, when they are not acting in their capacity as monetary

or public authority,



7. Post Office Giro institutions in the EEA under national law

have the right to provide payment services, and



8. branches of credit institutions from non-EEA countries.

Law (2011:775).



section 4 of this Act means



1. direct debit "means a payment service for debiting a payer's

payment account, where a payment transaction is initiated

by the payee on the basis of the payer's consent

to the recipient, the recipient's payment service provider or

the payer's own payment service provider,



2. banking day "means a day on which a payment service provider

open for business to the extent required for

execution of a payment transaction,



3. "payer" means a natural or legal person who is either

betalkontoinnehavare and allows a payment order

from that payment account, or a natural or legal person

that leaves a payment order,



4. payment account: an account held in one or more

the payment service user's name, and which is intended for

execution of payment transactions,



5. payment institutions: a limited liability company or a financial

compound that has been authorised to provide

payment services according to Chapter 2,



6. payment instruments: a credit card or any other

personal instruments or a personal routine used

in order to initiate a payment order,



7. beneficiary: any natural or legal person who

is the intended recipient of funds at a

payment transaction,



8. payment order "means any instruction by a payer or

payee's payment service provider to a

payment transaction will be carried out,



9. payment systems: a general payment system in accordance with Chapter 1.

3 section Act (2004:297) on banking and

finance law,



10. payment transaction: deposit, withdrawal or transfer

of funds that is initiated by the payer or

the payee, irrespective of any underlying

obligations between the payer and the payee,



11. the payment service user ' means any natural or legal person who

making use of a payment service,



12. charge: that the funds will be deducted from an account,



13. ' branch ' shall mean a branch office with independent

management, and a foreign payment institutions

establishment of several establishments should be considered as a single

Branch,



14. Group: same as in Chapter 1. section 7 of the Act (2006:531) on

special supervision of financial conglomerates,



15. country of origin: the country where an undertaking has been authorised to

pursuit of the activities referred to in this Act,



16. ' consumer ' means any natural person who is acting primarily for

purposes which are outside business activities,



17. credit: the funds are added to an account,



18. qualifying holding: the same as in Chapter 1. 5 § 15 law

on banking and finance law,



19. "funds" means banknotes and coins, scriptural money and

electronic money in accordance with the law (2011:755) on electronic

money,



20. money transfer "means a payment service where funds are received from

a payer, without any payment account is opened in the payer's

or beneficiary name, solely for the purpose of

transfer the equivalent amount to a recipient or another

payment service provider acting on behalf of the recipient, or

where such funds are received on behalf of the recipient, and

to the recipient,



21. framework agreement: a contract on payment services which regulates

implementation of future individual and successive

payment transactions and which may contain obligations

and conditions to open a payment account,



22. reference exchange rate "means the exchange rate which is used as the basis

for the calculation of any currency exchange and made

available by the payment service provider or is derived from a

publicly available source,



23. the reference interest rate: the interest rate which is used as the basis

for the calculation of any applicable interest rate and the resulting

from a publicly available source which can be verified by

both parties to a payment service agreement;



24. registered payment service provider: a

payment service provider exempt from permit requirements

According to Chapter 2. 3 §,



25. initial capital: the same as in Chapter 1. 5 § 18 law on banking

and finance law,



26. "unique identifier" means a combination of letters,

numbers or symbols provided by a

payment service provider, and that the payment service user,

State to unequivocally identify another

the payment service user or his/her payment account,



27. value date: the reference time used by a

payment service provider for the calculation of interest generated by

charged or credited to a payment account. Law (2015:188).



5 § a payment institution and another company will be deemed to have

close links, if



1. one company directly or indirectly through subsidiaries

owns at least 20 per cent of the capital or have at least

20% of the total votes in the other company,



2. one company directly or indirectly accounts for parent company

to the other or there is another similar relationship

between undertakings;



3. both companies are subsidiaries of or have a similar

relationship with the one and the same legal entity or a

the corresponding relative to a single physical person.



Close relations are also a payment institution and a

natural person shall be considered to have, if



1. the individual in question



a) owns at least 20 per cent of the capital of the payment institution;



b) disposes of at least 20% of the total votes in the

payment institution,



c) otherwise have such influence over

payment institution that the person's position is equivalent to anyone who

a parent has in relation to a subsidiary,

or



2. There is another similar link between this person

and the payment institution.



Exemptions from the scope



section 6 of this Act do not apply to services



1. consists of professional, physical transportation of cash,



2. provide for withdrawal of cash purchases

of goods or services,



3. consists of currency exchange through the exchange of cash,



4. provided by suppliers of technical services

payment service provider supports the business of payment services,

without the supplier of technical services at some point

comes in possession of funds,



5. based on payment instruments which can only be used

within a limited network of suppliers, of a supplier

in his place of business or, in the case of a limited supply

or services, or



6. consists of collection of cash by means of automated teller machines,

If the service provider



a) acting on behalf of one or more card authority's behalf,



(b)) is not a party to the framework contract with the customer who takes out funds

from a payment account, and



c) does not provide such other payment services as listed in

2 §.



section 7 of this Act do not apply to payment transactions



1. is done with paper-based instruments such as cheques, bills of Exchange,

vouchers, travellers ' cheques, money orders or

utbetalningsavier,



2. made up of non-commercial collection and delivery

cash under the not-for-profit business or

charity,



3. conducted between participants in a system for the settlement of

payments or securities,



4. carried out between payment service providers, their agents

or branches for their own account,



5. exclusively in cash directly from the payer to the

the payee, without any intermediary,



6. from the payer to the payee through a

Trade Commissioner, or




7. relating to management, redemption or sale of

financial instruments, which are carried out by the persons

participating in a system for settlement according to 3 and of

investment firms, credit institutions, fund management companies,

management company, the aifm with regard to special funds,

providing investment services and other companies

authorized to safe-keep any financial instruments.



This law does not apply to either transactions carried out

between a parent undertaking and its subsidiary or between

subsidiaries of the same parent undertaking, except when a

other payment service provider than a company in the same group

involved as an intermediary. Team (2013:582).



Chapter 2. Obtain a permit for the provision of payment services



Obtain a permit



1 section to provide one or more services required

the permission of the financial supervision authority, unless otherwise shown

of 2 or 3 sections. As regards the Swedish provider of

payment services, the only authorized a Swedish

joint-stock company or a Swedish economic association.



Special provisions concerning foreign companies domiciled in

EEA, see Chapter 3. 26 and 27 §§.



Exemption from permit requirement



section 2 of the State under this Act are not required for



1. banks and credit market companies under the Act (2004:297) om

banking and finance law,



2. electronic money institutions and undertakings

been exempted from licence under the Act (2011:755) on

electronic money,



3. State and municipal authorities, when they are not busy

for the exercise of public authority,



4. foreign physical and legal persons and authorities

within the EEA, similar to those in the 1-3 with the exception of such physical

or legal persons who have been excluded from

obtain a permit under the national provisions transposing the

European Parliament and Council Directive 2007/64/EC,



5. the European central bank and national central banks in

other EEA-countries, when they are not acting in their capacity as monetary

or public authority,



6. Post Office Giro institutions in the EEA under national law

have the right to provide payment services, and



7. branches of credit institutions from non-EEA countries.

Law (2011:775).



section 3 of A natural or legal person may apply to the

The Swedish financial supervisory authority to be exempted from the permit requirement referred to in

1 §. The inspection shall decide on such an exception if



1. the average of the total amount of payment transactions in

the past 12 months does not exceed an amount equal to

3 million euros per month,



2. the that should be part of a company or an Association Board of Directors,

be the Chief Executive Officer or responsible for

payment service operations would not have been convicted of offences relating to

money laundering, terrorist financing or other financial

crime,



3. There is reason to believe that the planned activities

will be operated in accordance with the relevant parts of this law and

regulations governing operations,



4. in the case of legal persons, there is reason to believe that the

have a qualifying holding in the company is suitable to exercise

a significant influence over the management of the company, and



5. the that should be part of a company's Board of Directors, be

Managing Director, head of paid service operations

or replacement for any of them, have sufficient insight

and experience to participate in the management of the company or

be responsible for the payment services business nor otherwise is

suitable for such a task.



In determining whether the condition referred to in the first subparagraph 1 is

fulfilled, should also be taken of the expected total

payment transactions in the company's business plan.



section 4 of the Swedish financial supervisory authority to register those who have been granted

exemption under section 3.



A registered payment service provider shall inform the

The financial supervision authority of any changes which affect its

the ability to satisfy the conditions for exemption provided for in paragraph 3 of the.



Provisions relating to the registry can be found in Chapter 8. 5 §.



5 § a registered payment service provider no longer

satisfies the conditions laid down in paragraph 3 of the first paragraph 1 or 2 shall apply

If an authorization pursuant to § 1. The application must be made within 30 days from

the date on which the conditions are no longer met.



A registered payment service provider should be removed from the register

If the supplier reports that it no longer provides

payment services or if it otherwise appears that

provider's operations with payment services have been discontinued.



Conditions for authorisation



section 6 of the State to provide payment services to be provided, if



1. the articles of association or by-laws not inconsistent with this Act

or any other Constitution,



2. There is reason to believe that the planned activities

will be driven



(a)) with adequate command and control forms for business

with payment services, and



(b)) in accordance with this Act and the regulations

regulating the company's activity,



3. There is reason to believe that those who have a qualifying

holding in the company is suitable to exercise a significant

influence over the management of the company,



4. it must be considered part of the company's Board, to be Executive

Director or Deputy of any of them, is suitable for

such a task, and



5. the person responsible for payment service activities or

replacement of this person is suitable for such a task and

have sufficient insight and experience.



In the case of the European company and the European cooperative that has such a

the management system referred to in articles 39 to 42 of the Council

Regulation (EC) No 2157/2001 of 8 October 2001 on the Statute

for a European company (SE) or articles 37 to 41 of Council regulation

(EC) No 1435/2003 of 22 July 2003 on the Statute for a European

cooperative society (SCE), the provisions which

the Board refers to in the first subparagraph 4 If the aptitude test

apply to the Supervisory Board.



section 7 of the assessment referred to in paragraph 3(1), 4 and 6 § 3 of the

If a holder is suitable to his reputation and

capital strength is taken into account. It should also be taken into account if there is any reason

to assume that



1. the holder will counter that the payment service activities

operated in a manner consistent with the requirements of this Act and

regulations governing the company's activities,



2. the holding in connection with or may increase the risk of



(a)) money laundering as referred to in Chapter 1. paragraph 5 of the 6 teams (2009:62) if

measures against money laundering and the financing of terrorism, or



b) offence under section 2 (2), (3) or section 4 § lagen (2002:444) if

punishment for the financing of particularly serious crime in

some cases, in respect of offences under the Act (SFS 2003:148) if

terrorist offences.



If your company has or likely to get near

relations with anyone, is authorized in accordance with paragraph 1 of the given

only if the links do not prevent the effective exercise of their supervisory functions by

the company.



section 8 provisions concerning ownership in credit institutions in 14 Cape.

Act (2004:297) on banking and finance law should

also apply to payment institutions.



Examination of the application



paragraph 9 of the financial supervision authority shall notify the decision authorising the

to provide payment services or derogating from

obtain a permit within three months from the date on which a

complete receipt of the application and the application fee paid. If

decisions are not communicated in a timely manner, the conditions shall be deemed to have

reporting or exception shall be deemed to have been granted by

The Swedish financial supervisory authority.



Appropriations



section 10 of the Government or the authority, as the Government determines

may provide for what constitutes adequate controls

and control forms of operations with payment services according to

6 paragraph 2.



3 Cape. Special provisions relating to payment institutions and

registered payment service providers ' movement



Initial capital



1 § a payment institution will be when it starts its activities

have initial capital as at the date of the decision in the case of

condition corresponds to



1. at least 20 000 euro, if the authorization includes payment services

According to Chapter 1. 2 § 5,



2. at least 50 000 euro, if the authorization includes payment services

According to Chapter 1. section 2 of 6;



3. at least 125 000 euro, if the State covers any of

payment services according to Chapter 1. 2 § 1 – 4.



Capital requirements



section 2 of a payment institution shall at all times have a

own funds at least equal to the initial capital in accordance with paragraph 1 of the

or a capital requirement calculated in accordance with section 3 or 4.

The payment institution's own funds may not fall below the

the highest of these two amounts.



For the calculation of own funds and its composition

European Parliament and Council Regulation (EU) no

575/2013 of 26 June 2013 on prudential requirements for

credit institutions and investment firms and amending

Regulation (EU) No 648/2012.



A payment institution belonging to the same group as another

payment, or a credit institution, a

investment firm, a fund management company, an insurance company,

an aifm managing special funds or a

electronic money institutions shall not for the purposes of calculating

own funds include the items that are included in the calculation of

some of these companies ' own funds.



A payment institution which operates other activities in accordance

with 5 § shall not for the purposes of the calculation of own funds include

the items included in the calculation of the own funds of such

other activities.



For a payment institution which has changed the accounting currency

in own funds must not be less than the higher of the

amount resulting from 6 and 7 of the Act (2000:35) if change of

accounting currency in financial firms. Law (2014:988).



section 3 of the capital requirement pursuant to section 2 is calculated according to a method

start from



1. a share of the Institute's fixed costs,



2. payment volume in relation to

the nature and extent of the payment, or



3. the amount of interest income, interest expense, received

Commission and received fees as well as other operating income,

in relation to the payment service the nature and

scope.



Decision on the method to a payment institution shall apply the

in each case issued by the Swedish financial supervisory authority.




Article 4 on the basis of an evaluation of the payment institution

risk management processes and internal control mechanisms may

The financial supervision authority may decide that the capital requirements, calculated in accordance with

section 3, should be raised or lowered. The amount of the increase or reduction may

not exceed 20% of this amount.



Nearby services and other activities



5 § in addition to provide payment services, a

payment institution or a registered payment service provider

provide related services and operate different

activity.



The financial supervision authority may prohibit a payment institution or

a registered payment service provider to power other

activity. Such a decision shall be notified of the operation

impairs or could impair the payment institution

or the registered payment service provider's financial

soundness or ability to exercise the Finnish financial supervisory authority

supervision of the Institute or the vendor.



Deposits and loans in the payment service activities



section 6 of a payment institution or a registered

the payment service provider may, in its operations with payment services

not



1. receive deposits or other repayable

funds from the public, or



2. offer other accounts than payment accounts used exclusively

for payment transactions.



A payment institution or a registered

the payment service provider may, in its operations with payment services

grant credit for such payment services referred to in Chapter 1. section 2 of the

2, 3, 4 or 6 If



1. credit will only be used in connection with the implementation of a

payment transaction,



2. the credit is not granted from the funds held for

conduct a payment transaction, and



3. credit via the payment instrument provided under

cross-border activities within the EEA are repaid within 12

months.



Payment institutions may only grant credit in accordance with the second

the paragraph on its own funds is satisfactory with

account of the total amount of credit.



Protection requirements



section 7 a payment institution or a registered

the payment service provider shall take specific measures to

protect the payment service users ' funds received for

execution of payment transactions in excess of a

the equivalent of 300 euros. Such funds shall



1. be kept separate from the payment institution or the

registered payment service provider's own assets and

funds held on behalf of others than the payment service user,

or



2. covered by an insurance policy or guarantee which provides the same protection

for the payment service user as if funds are kept separate according to

1.



Funds for the implementation of the operations referred to in the first subparagraph

1, which is still held by the payment institution or the

registered payment service provider at the end of the business day

After the date on which the funds were received, shall be deposited in a special

account of a Swedish bank, a credit market company

or foreign bank or credit company or be invested in

liquid assets with low risk.



The first and second subparagraphs shall also apply in cases where a

payment institution or a registered payment service provider

receive funds in which a portion will be used for future

payment transactions and the remainder for services other than

payment services. If it is not possible to determine what percentage

by user's funds will be used to

payment transactions, receive a payment institution or a

registered payment service provider, if it is possible to

the basis of historical data and authorised by

The Swedish financial supervisory authority, make an estimate of this proportion.



Retention of data



section 8 a payment institution shall keep all relevant

information relating to the circumstances covered by 2, 3, 7

and Chapter 8. for at least five years.



Rules of procedure and instructions on the Division of labour between

corporate bodies



8 (a) § the obligation under Chapter 8. 46 (a) § companies act

(2005:551) of the Board of Directors of a publicly traded corporation that annually

establish written rules of procedure for its work

also for the Board of Directors of a payment institution or a

registered payment service provider is a private

joint-stock company. However, this does not apply in the case of companies whose

Board has only one member.



Requirement of Chapter 8. 46 (b) § companies act for

the Board of Directors of a publicly traded corporation that in the written

instructions specify the Division of labour between the bodies

also applies to the Board in a payment institution or a

registered payment service provider is a private

joint-stock company.



The Chairman of the Board shall ensure that the Board fulfils the

information listed in this section. Law (2014:553).



Audit and accounting



section 9 a payment institution shall have at least one auditor appointed

of the general meeting. Only those who are authorized or approved

accountant may be certified. At least one auditor appointed by the general meeting

to be certified.



A European cooperative shall draw up the annual report and, in

where appropriate, consolidated accounts in accordance with the

provisions in the Act (1995:1559) on the annual accounts of

credit institutions and securities companies which apply to

payment institutions operating in economic association.

Team (2013:234).



section 10 a payment institution which also engages in other activities

than the provision of payment services as defined in Chapter 1. section 2 will

provide separate accounting information of the activities

includes payment services.



The main office and residence



section 11 of a payment institution or a registered

payment service provider who is a legal person must have its

Head Office in Sweden. A natural person who is registered

payment service provider should have their habitual residence in Sweden.



Professional secrecy



12 § anyone who is or has been connected to an

payment institution or a registered payment service provider

as an employee or contractor must not unduly reveal

or take advantage of what he or she is in employment or in

the Mission of the business with payment services has been informed about

the individual circumstances of the institution or provider.



Liability under Chapter 20. paragraph 3 of the criminal code should not follow the

that violate the ban.



In the public activities should apply instead of the provisions

in publicity and secrecy (2009:400).



In Chapter 6. section 9, there are specific provisions on professional secrecy at

the processing of personal data in the register kept by a

payment service provider or the person responsible for a

payment system in accordance with Chapter 6. 1 §.



In 5 a § credit information Act (1973:1173) provides

that what is true of professional secrecy referred to in the first subparagraph

does not prevent the information in some cases are exchanged for

credit reporting purposes.



Measures against money laundering and the financing of terrorism



section 13 provisions concerning the obligation on any natural or legal

persons providing payment services to help

to prevent money laundering and terrorist financing is available

in the law (2009:62) on measures against money laundering and

the financing of terrorism.



Vendor's



section 14 of the payment institution and registered

payment service providers are required to disclose such

information referred to in paragraph 12, if during a

investigation in accordance with the provisions of preliminary investigation in criminal cases

requested by the investigators or whether, in a case concerning the

legal assistance in criminal matters on the production of another State

or an International Court is requested by prosecutors.



Message ban



15 § The investigators or prosecutors requesting

information under section 14 of may decide that the payment institution

or the registered payment service provider as well as its

Directors and employees shall not disclose to the client or

for any outsiders to information submitted under section 14

or that there is a preliminary investigation or a case

legal assistance in criminal matters.



Such a ban may be communicated if required to a

investigation of crimes should not be compromised or in order to comply with

an international agreement binding on Sweden.



The ban should be limited in time, with the possibility of

extension, and may not longer than is

justified by the purpose of the ban. In a case concerning the

legal assistance in criminal matters may, however, be subject to the ban only

If the State or international court applied for

legal assistance agrees to this.



If a ban is no longer justified with regard to the purpose

with the ban should undersökningsledaren or Prosecutor decide

the ban will expire.



In the case of the European company and the European cooperative that has such a

the management system referred to in articles 39 to 42 of the Council

Regulation (EC) No 2157/2001 or articles 37 to 41 of Council

Regulation (EC) No 1435/2003, as set out on the

Board members in the first subparagraph shall apply to the members of the

the regulatory body.



Liability provision



16 § fined condemned anyone who willfully or through gross

negligently violates a prohibition notice under section 15.



The provision of payment services by proxy



section 17 If a payment institution or a registered

payment service provider wants to provide payment services through

agents, should the payment institution or the registered

the payment service provider shall notify the Attorney for registration with

The Swedish financial supervisory authority.



The notification shall contain



1. the name, address and social security number or equivalent,



2. If the representative is a legal person, in addition, the names,

social security number or equivalent and address for those who are part of the

the delegate's Board of directors or the Managing Director,



3. information demonstrating that the persons referred to in 2 is

suitable for such a task, or, if the officer is a physical

person, he or she is suitable to provide

payment services, and



4. agent's internal rules on how the delegate to respond to

the requirements set out in the Act (2009:62) on measures against

money laundering and the financing of terrorism.



If the notification fulfils the requirements set out in the second paragraph,

The FSA Register agent in the register

inspection in accordance with Chapter 8. 5 §.




The provision of payment services in another country within the EEA

by proxy



section 18 where a payment institution would provide

payment services through an agent in another country within the EEA, the

the payment institution shall inform the financial supervision authority thereof.



The notification shall contain



1. a plan for the intended activities, with an indication of

the delegate's organisation and the services provided by the agent intends to

provide, and



2. details of the agent's name and address as well as its responsible

management.



Before the FSA decides to register the delegate

According to Chapter 8. 5 section, the supervision authority shall inform the competent

authority of the other country. The notification shall contain

the information referred to in the second subparagraph. The financial supervision authority may refuse

to register the agent or revoke a completed registration,

where the competent authority of the other country has reasonable

reason to believe that money laundering or the financing of

terrorism is taking place or has taken place or has tried

implemented in connection to the agent, or if the use of

the Attorney can increase the risk of money laundering or the financing of

terrorism.



Swedish payment institution's branch operations in the EEA



section 19 of a payment institution intends to provide

payment services through a branch in another country within the EEA to

notify the financial supervision authority before operations commence.

The notification shall contain



1. a plan for the intended activities, with an indication of

the branch's organization and the services which it intends to

provide, and



2. information on the country in which the branch is to be set up and if

the address of the branch and responsible management.



Before the FSA decides to register the branch

According to Chapter 8. 5 section, the supervision authority shall inform the competent

authority of the other country. The notification shall contain

the information referred to in the first subparagraph. The Swedish financial supervisory authority may

refuse to register a branch or withdraw a study conducted

registration, if the competent authority of the other country

has reasonable grounds to suspect that money laundering or

the financing of terrorism is taking place or has taken place or has

attempted to be carried out in relation to the branch, or if

use of the branch may increase the risk of money laundering or

the financing of terrorism.



section 20 within one month of the notification according to § 19

was accepted to the Swedish financial supervisory authority hand over it to the

competent authority of the country in which the branch is to be set up.



Cross-border activities of payment institutions in Swedish

The EEA



section 21 a payment institution which intends to from Sweden

provide payment services in another country within the EEA to

notify the financial supervision authority before operations commence.

The notification shall contain



1. a plan for the intended activities, with an indication of the

services that a payment institution intends to provide,

and



2. information on the country in which the business will be conducted.



section 22 Within one month from the date of the notification under section 21

was accepted to the Swedish financial supervisory authority hand over it to the

competent authority of the country in which the business will be conducted.



Swedish payment institution's branch operations outside the EEA



section 23 a payment institution may, where authorized by

The FSA set up a branch in a country outside the EEA.

Application for a permit shall contain



1. a plan for the intended activities with information on

the branch's organization and the services which it intends to

provide, and



2. information on the country in which the branch will be established, if

the address of the branch and responsible management.



Information requirements



section 24 of the payment institution and registered

payment service providers shall ensure that agents acting

on their behalf inform payment service users accordingly

relationship.



A payment institution that conducts payment service activities

through a branch office pursuant to this chapter shall ensure that

the branch informs the payment service users of this

relationship.



Obligation to notify the financial supervision authority of changes in

activities



section 25 where a payment institution or a registered

payment service provider intends to change the activities referred to

in the 17 – 19, 21 or 23 § to institution or provider

notify the financial supervision authority before the change is implemented.



If the change relates to a payment institution's activities in a

other country, to the financial supervision authority shall inform the competent

authority of the other country if the change.



Special provisions concerning foreign companies domiciled in

The EEA



section 26 a foreign company that belongs within the EEA and in

the home Member State is authorised to provide payment services

do not need a licence pursuant to Chapter 2. in order to provide

payment services in Sweden.



A foreign company referred to in the first subparagraph,

provide payment services through an agent or subsidiary in

Sweden, after the financial supervisory authority has received a

notification from the competent authority of the company's

country of origin that contains



1. a plan for the intended activities, with an indication of

the agent's or the branch's organization and the services

officer or branch intends to provide, and



2. details of agent's or the address of the branch and responsible

management.



27 § a foreign company referred to in section 26 of the first subparagraph,

provide payment services in Sweden from their home country so

soon the FSA has received a notification from

the competent authority of the home Member State, indicating the

services payment institution intends to provide in

Sweden.



Commission agreements



paragraph 28 of a payment institution or a registered

payment service provider may instruct anyone to carry out a

particular job or certain operational features included in its

the business of paid services. The payment institution or the

registered payment service provider shall notify such

contract to the Swedish financial supervisory authority.



Assignment for someone else to perform such functions as are of

essential for pay services may only be provided

If the payment institution or the registered

the payment service provider is responsible for ensuring that



1. the business operated by the contractor under controlled

and safely secure forms, and



2. the mission does not significantly impair the quality of the

the payment institution or the registered

payment service provider's internal control and

The Swedish financial supervisory authority's ability to monitor the

the payment institution or the registered

the payment service provider to comply with the rules applicable to

the business.



Appropriations



section 29 the Government or authority the Government determines

may provide for



1. the calculation of capital requirements according to paragraph 2(1),



2. how payment institutions and registered

payment service providers to manage funds under section 6,



3. how payment institutions and registered

payment service providers to manage the funds for the implementation

of payment transactions referred to in paragraph 7 and

the proportion of the funds of the payment institution or

registered payment service providers covered by

protection requirements under section 7, third subparagraph,



4. what data should be considered relevant pursuant to section 8, and



5. what a payment institution or a registered

payment service provider to comply with and the requirements

the payment institution or the registered

the payment service provider shall fulfil in the contract in accordance with

section 28.



4 Cape. Information requirements in the provision of payment services



Charges for information



section 1 of the payment service provider shall not charge any fee for a

the payment service user for providing information according to

This chapter.



A service provider may, however, if the supplier and

the payment service user have agreed on it, charging

for information provided at the request of the user and that are

more extensive or more frequent than in accordance with this chapter

or for information provided by other

means of communication than those laid down in the framework agreement.



Fees referred to in the second subparagraph shall be fair and shall be equivalent to

payment service provider's actual costs.



Information about fees in some cases



Information about extra fees or reduction of fee



section 2 where the payee provides a reduction of a

fee for the use of a given payment instrument, the

the receiver will inform the payer thereof prior

the payment transaction is initiated.



If a provider requesting a fee for the use of

a specific payment instrument, it shall inform the

the payment service user thereof prior to the payment transaction

begins.



Currency and currency exchange



3 § If currency exchange is offered prior to the initiation of

payment transaction and the place of sale or

of the payee, the payer will be offering this

Service payer of any charges for the service and

the exchange rate that will be used.



The payer shall accept the currency exchange service before

payment transaction is carried out.



Information obligation in single payment transactions



Prior information



4 section Before an agreement on a single payment transaction is concluded;

the payment service provider shall inform the payment service user on



1. the information that the user will be prompted for a

payment orders can be carried out correctly,



2. how long it takes at most to implement

transaction, and



3. the total amount of the fee that the user pays

to the vendor for the transaction.



The payment service provider shall provide the payment service user

detailed information on the amount of the fee referred to in the first

paragraph 3, when the different fees can easily be separated and

be accounted for separately.



If the payment transaction involves currency exchange should

provider will provide the user with information about the actual

Exchange rate or reference exchange rate to be applied for

the payment transaction.



The supplier must also make information according to section 10 of

available to the user.



paragraph 5 of the Information referred to in section 4 shall be provided on a


accessible way and be clear and easy to understand. The

should be in Swedish or in another language which the parties

will agree.



At the request of the payment service user information

be supplied on paper or another durable medium.



section 6 If an agreement for a single payment transaction concluded on

distance at the request of the payment service user, and this causes the

the payment service provider is unable to comply with 4 and 5 sections,

should these requirements be met instead by him immediately after

the payment service has been implemented.



Information to the payer



section 7 as soon as possible after a payment order has

received to the payer's payment service provider

provide the payer with the following information:



1. a statement identifying the

the payment transaction and, where appropriate, information

relating to the payee;



2. the transaction amount in the currency of

the payment order,



3. the amount of the levy payer shall pay to

the vendor for the transaction, and



4. the date when the payment order was received.



Provider shall also provide detailed information on the payer

the amount of the fee referred to in the first subparagraph 3 where the various

the fees can easily be separated and accounted for separately.



If the payment transaction involves currency exchange should

the vendor provide the payer information on the actual

Exchange rate or reference exchange rate to be applied for

the transaction.



Information to the beneficiary



section 8 as soon as possible after the

the payment transaction has been carried out to

the payee's payment service provider provide

the recipient of the following information:



1. information that makes it possible for the recipient to

identify the transaction and, where appropriate, an indication of the

the payer and the information attached to the transaction,



2. the transaction amount in the currency of

the payment order,



3. the amount of the levy to be paid by the recipient to

the vendor for the transaction, and



4. the value date of the credit.



Provider shall also provide the payee detail

information on the amount of the fee referred to in the first subparagraph 3, when the

different fees can easily be separated and accounted for separately.



If the payment transaction involves currency exchange should

the vendor provide the payee information if the

Exchange rate used for the transaction and

the transaction amount before the currency exchange.



section 9, the payment service provider is not required to provide or

making information available in accordance with sections 4 to 8, if such

information already given or will be given to

the payment service user on the basis of a framework agreement between

the user and another payment service provider.



Information obligation on framework agreement



Prior information



section 10 of the reasonable period of time before a framework agreement should

the payment service provider provide the payment service user the following

information:



1. the name and address of the supplier and, where applicable,

address of its agent or branch,



2. the information that the provider is authorised to

provide payment services and the supplier, its

branches and agents have been registered with the competent authority,



3. a description of the main content of the

payment service provided,



4. the information that the user will be prompted for a

payment orders can be carried out correctly,



5. how an approval to conduct a payment transaction

is provided and how it may be withdrawn in accordance with Chapter 5. 13-15 sections,



6. when a payment order shall be deemed to be received under Chapter 5. 9 §

the first subparagraph,



7. dates for the receipt of an order in accordance with Chapter 5. 9 §

paragraph 3, if any has been set by the provider,



8. how long it takes at most to conduct a

transaction,



9. the ability to agree on restrictions on the use of

the payment instrument in accordance with section 19,



10. What are the fees that the user should pay to the vendor

and, where applicable, the details of these;



11. interest and exchange rates to be applied or, if

reference rates and reference exchange rates should be used,

the method for calculating the actual interest rate and relevant today,

index or the basis for determining the reference interest rate or

reference exchange rate,



12. the immediate application of changes in interest rates or

Exchange rates can be agreed on in accordance with section 14 and the

information requirements associated with this,



13. where appropriate, the means of communication to be

be used for the transmission of information and intelligence

between the parties, including technical requirements on the user's

equipment,



14. how often and in what way information pursuant to this

law should be submitted to or made available to the user,



15. the language to be used in the framework agreement and the

language communication between the supplier and the user should

take place,



16. user's right to frame its terms and

information pursuant to section 13,



17. the actions that the user should take to protect

payment instrument and how the user should notify a

payment instrument strayed or unauthorized use,



18. where appropriate, the circumstances in which

Provider reserves the right to block a

payment instrument in accordance with Chapter 5. 4 §,



19. the responsibilities of the payer has under the Act (2010:000) if

unauthorized transactions with payment instruments;



20. how and within what time limit a user to

notify the provider if improperly implemented

payment transactions or unauthorized transactions,



21. the supplier's responsibility for the implementation of operations

According to Chapter 5. 25-29 sections,



22. the conditions for refund in accordance with Chapter 5. 6-8 sections,



23. where appropriate, an indication that the user is deemed to

have accepted the amended conditions set out in section 14 if the user does not

before the date of the entry into force of the proposed notification to

provider that the user does not agree to them,



24. the duration of the contract,



25. If the notice periods and fees for termination under 14

paragraph or section 15,



26. any contractual clauses concerning the law to

apply for the framework agreement and about which court has jurisdiction,

and



27. What are the procedures for complaints and redress outside

the Court found for the user.



Access to information and conditions in accordance with the framework agreement



11 § Information according to section 10 of shall be supplied on paper

or another durable medium, be expressed in an easily accessible

and to be clear and easy to understand. It should be on

Swedish or in another language which the parties agree.



12 § on a framework agreement concluded at a distance, at the request of

the payment service user, and this causes the

the payment service provider is unable to comply with 10 and 11

sections, should these requirements be met instead by him immediately

After the framework agreement is concluded.



section 13 of the payment service user has during the contractual relationship always

the right to request the contractual terms of the framework agreement and the

information referred to in section 10 of the Act or in any other

legible and permanent form which is available to the user.



Changes to the conditions laid down in the framework agreement



section 14 of the payment service provider and the payment service user may

agree that a user should be bound by a

conditional amendment proposed by the supplier, if the user does not

before the date on which the amendment is proposed to come into force Announces

the provider that he does not accept the new condition.

The supplier must propose changes, as set out in

section 11, at least two months before they take effect.



Changes in interest rates or exchange rates may be applied

immediately, if the supplier and the user agreed

This and the change is based on the agreed

reference interest rate or foreign exchange reference rate. The user should

However, as soon as possible in accordance with the procedure provided for in section 11 shall be informed

If the supplier applies a new interest rate, unless

the parties have agreed that the information should be submitted or made

available with a certain regularity or on a specific

way.



The user is entitled to with immediate effect and free of charge

terminate the framework agreement prior to the date on which the amendment is proposed to be

applicable. The user shall be informed of this when

the vendor proposing the change.



Termination of the framework agreement



15 § the payment service user may terminate the framework agreement with

effective immediately, unless the parties have agreed

a period of notice. The payment service provider shall not make

for a longer period of notice for the user than a month.

If the supplier terminates a framework contract concluded for an indefinite

time, the period of notice shall be not less than two months.



A framework contract concluded for a fixed period of more than twelve

months or for an indefinite period can be terminated toll free

by the user after 12 months.



When the supplier may charge a fee for the termination, the

the fee shall be equal to the actual costs incurred by the termination

causes for the vendor. Periodic fees for paid services

to be paid only for the time until the contract ends

to apply. If such fees are paid in advance, the

will be refunded accordingly.



Information prior to a payment transaction under a framework contract

implemented



16 § When a payor initiates a

payment transaction covered by a framework agreement should

the payment service provider, at the request of the payer, leave

the following information to the payer before the transaction

carried out:



1. how long it takes at most to implement

transaction, and



2. the amount of the levy payer shall pay to

the vendor for the transaction.



Provider shall also provide detailed information on the payer

the amount of the fee referred to in the first subparagraph 2, when the various

the fees can easily be separated and accounted for separately.



Information to the payer of a payment transaction under the

a framework agreement



17 § after the payer's payment account has been debited, or,

If the payer does not use a payment account, after the


the payer submitted a payment order to

the payment service provider to this without undue delay and at

as set out in section 11, provide the following information

to the payer:



1. information identifying the

the payment transaction and, where appropriate, information

relating to the payee;



2. the transaction amount in the currency of

the payment order,



3. the amount of the levy payer shall pay to

the vendor for the transaction, and



4. the value date of debit or date when

the payment order was received.



Provider shall also provide detailed information on the payer

the amount of the fee referred to in the first subparagraph 3 where the various

the fees can easily be separated and accounted for separately.



If the payment transaction involves currency exchange should

the vendor provide the payer information on the actual

Exchange rate or reference exchange rate to be applied for

the transaction.



Framework agreement may stipulate that the information referred to in

the first paragraph should not have to be made available more than a

Once a month. It will be provided or made available on a

agreed manner so that the payer to store and recover

information unchanged.



At the request of the payer shall pay the service provider once in

month free of charge to provide information as referred to in the first

the paragraph on paper.



Information to the beneficiary of a

payment transaction under a framework contract



section 18 When a payment transaction has been carried out to

the payee without undue

delay in the manner set out in section 11, provide

the following information to the payee:



1. a statement identifying the

transaction and, where appropriate, information that

transferred with the payment transaction;



2. the transaction amount in the currency that is credited

the payee's payment account,



3. the amount of the levy to be paid by the recipient to

the vendor for the transaction and the interest

the beneficiary may have to pay, and



4. the value date of the credit.



Provider shall also provide the payee detail

information on the amount of the fee referred to in the first subparagraph 3, when the

different fees can easily be separated and accounted for separately.



If the payment transaction involves currency exchange should

the vendor provide the payee information if the

Exchange rate used for the transaction and

the transaction amount before the currency exchange.



Framework agreement may stipulate that the information referred to in

the first paragraph should not have to be made available more than a

Once a month. It will be provided or made available on a

agreed manner so that the payee can store and

recreate the information unchanged.



At the request of the payee to the payment service provider

Once a month free of charge, provide this

information on paper.



Exemption from the requirements on information



section 19 of A payment service provider is not required to provide

information pursuant to sections 10 and 16 for the purpose of

payment services are carried out with the use of electronic

money or payment instruments which according to the framework agreement only



1. can be used for individual payment transactions with

amount equal to a maximum of 30 euro,



2. can be used for payments up to a total amount

a maximum of 150 euros, or



3. store funds which do not at any time exceed an

amount equal to 150 euros.



A payment service provider is, however, required that, before

payment services referred to in the first subparagraph is provided, leave

information to the payer if



1. how the payment instrument can be used,



2. liability for unauthorised payment transactions,



3. fees, and



4. where the payer easy can find it

information referred to in section 10.



For payment services referred to in the first subparagraph,

the payment service user and the payment service provider to come

agree that the supplier does not have to comply with the provisions

If



1. the terms of the framework agreement are hereby amended in accordance with § 14, or



2. information to payment service users at the individual

payment transactions in accordance with sections 17 and 18.



In the cases referred to in the third paragraph 2 shall

the payment service provider, however, provide or make

available a reference that makes it possible for

the payment service user to identify the payment transaction,

payment amount and transaction fees. If

payment instrument is used anonymously or if the supplier

for other reasons does not have the technical ability to provide

information, the supplier need not provide or

make available such a reference. Provider shall, however, provide

the payer to verify the amount stored

on the payment instrument.



Mandatory provisions



section 20 of the provisions of this chapter shall not be waived for

the disadvantage of a PSU.



The first paragraph does not, however, prevent a payment service provider

get along with a payment service users that are not

consumer if deviations from the regulations.



Chapter 5. Implementation of the payment services



Fees



section 1 of the payment service provider shall not charge any fee for a

the payment service user for fulfilment of its

information obligation and of protection and

corrective action pursuant to this chapter except

as mentioned in 10, 15 and 23 sections. When fees may be applied pursuant to

any of these rules, they should be reasonable and correspond to

payment service provider's actual costs.



Where a payment transaction does not involve any currency exchange,

to the payer and payee pay the fees

their respective payment service provider charges.



The payment service provider shall not prevent the payee

from offering the payer a reduction in the use of

a certain payment instruments.



A payee may not charge the payment

the payer for using a payment instrument.



Electronic money and payment instruments relating to low

amount



2 section For electronic money and payment instruments

referred to in Chapter 4. section 19 of the first subparagraph,

payment service provider and the payment service user of a framework agreement

agree on



1. that the supplier does not have to notify the user that the

the payment order has been rejected, if the context clearly

It appears that it has not been carried out,



2. that the payer may not revoke the payment order after the

have accepted that it is carried out,



3. other time limits for implementation than those referred to in

18 to 22 sections, or



4. it should not be possible to block

payment instrument. Law (2011:775).



Approval of a payment transaction



section 3 a payment transaction shall be considered as approved if

the payer has given consent to its implementation.



Limitation of use of payment instrument



4 of the framework agreement between the payer and the payment service provider

the vendor may reserve the right to block

payment instrument when there are



1. risk of a non-safe use of

the payment instrument,



2. the suspicion that the payment instrument unauthorized

used, or



3. in the case of payment instruments with credit line, a

significantly increased risk that the payer cannot pay.



A payment service provider who blocks a payment instrument

referred to in the first subparagraph shall inform the payer of the block and

the reasons for this.



The payer shall be informed before payment instrument is blocked

or as soon as possible after the block has been put in place.

Any information to the payer should not, however, be provided on the

would be incompatible with other law or if it is justified

for security reasons not to do this.



The payment service provider shall unblock of

the payment instrument or replace it with a new

payment instruments as soon as there are no longer grounds for

Let the block stay.



Payment service provider's obligations in relation to the

payment instruments



section 5 of the payment service provider shall



1. make sure that the personal code to

the payment instrument is not made available by the supplier

for other than the payment service user entitled to use

the payment instrument,



2. do not send payment instruments to someone who has not

ordered it, except where a payment instrument already

held by the user should be replaced,



3. make sure that the user has the option at any time to

notify the appropriate vendor to a

payment instruments has strayed or unauthorized used

or request that a block be lifted pursuant to paragraph 4 of the fourth paragraph, and



4. prevent the use of the payment instrument once a

notification under 3 has been provided.



A payment service provider will be under the age of 18 months after the

the notification or the request referred to in the first subparagraph 3 left

preserve information that makes it possible for

the payment service user to display a notification or request

has been provided. Such information should be provided to the user on the

the user requests it.



Refund of payment transactions initiated by

or through a payee



6 § a payer is entitled to a refund from his

payment service provider of the payment transaction initiated by

or through the payee, and



1. payment transaction's exact amount was not specified in the

When it was approved, and



2. the payment transaction amount exceeds the amount

the payer could reasonably have expected taking into account his

past spending patterns, the conditions laid down in the framework agreement and other

relevant circumstances.



At the request of the payment service provider shall inform the payer

provider if such circumstances referred to in the first

subparagraph 2. The repayment must be the full amount of the

completed transaction.



If the payer and the payment service provider has agreed to a

the reference exchange rate to be applied to the payment transaction,


and the reference exchange rate used, may

the payer does not argue that the conditions in the first subparagraph 2

are met due to the exchange rate applied.



section 7 of The payer and the payment service provider may, in a

framework agreement agree that the payer is not entitled to

refund if he has given his consent, directly to

the vendor, to a payment transaction is carried out and

either the supplier or the beneficiary left

information about the upcoming transaction or made such

information available to the payer at least four weeks prior

the last payment date.



section 8 A payment service provider is not obliged to repay

amount to the payer if the payer did not request

refund within eight weeks of the date on which the funds were debited

account.



Within ten business days of receipt of the request for

refund the payment service provider shall either refund the

the amount of the transaction or the reasons for that

repayment is refused with an indication of where the payer can turn

to have the matter reviewed.



The time of receipt of a payment order



9 the time of receipt of a payment order is the

date on which the order is received by the payer's

payment service provider. If the date of receipt is not a

business day of the service provider, the payment order shall be deemed to have been

during the next business day.



The payment service user initiating a payment order and

a payment service provider may agree that the timing

for receipt of a payment order should be different from the

referred to in the first subparagraph. If the agreed time

is not a business day for the payer's payment service provider, will

the payment order shall be deemed to have been received under the following

business day.



A payment service provider may fix a date near

Bank the end where a payment order is received at the latest. A

payment orders received after that time will be deemed to have

received during the next business day.



Refusal to execute a payment order



section 10 of The payment service provider refuses to execute a

payment orders shall inform the payment service user for this

on the agreed way as soon as possible and at the latest within the time limits

specified in §§ 18 and 19. The notification shall indicate



1. If possible, the reasons for refusal, and



2. the procedure followed to rectify errors

may have led to the refusal.



The payment service provider may charge a fee for a

notification referred to in the first subparagraph of



1. There are reasonable grounds for refusal, and



2. the supplier may charge such fee according to a framework agreement with

the payment service user.



section 11 of the terms of the framework agreement with the payment service provider

the payer are met, the payer's payment service provider

not refuse to perform an approved payment orders, regardless of whether

It is initiated by the payer or the payee

unless the execution of the payment order would be contrary to

other teams.



for the purposes of section 12 of the 18, 19 and 25 to 29 sections to a

payment orders that the payment service provider refuses to

perform is not considered to have been received by the supplier.



Revocation of payment order



13 § When a payment transaction is initiated by the payer, may

He does not revoke a payment order after it has

received by the payer's payment service provider.



14 § When a payment transaction is initiated by or through the

the payer may revoke the beneficiary not

the payment order after the latter have sent the order or

given their approval to implement the transaction to

the receiver.



By direct debit payer may, by way of derogation from the first subparagraph, and without

It affects the right to repayment, withdrawing

the payment order at the latest by the end of the business day preceding

the date agreed for debiting the funds.



If the payment service user and the payment service provider has

agreed under section 9 If the time at which a

the payment order shall be deemed to be received, the user despite

first paragraph, revoke the payment order at the latest by the end of

the business day preceding the agreed day.



15 § After the dates specified in §§ 13 and 14 may

the payment order may be revoked only if agreed

between the payment service user and his payment service provider.

To the recall after the dates specified in section 14 of

the first and second subparagraphs shall take place, is also necessary for the

the payee agree to recall.



The payment service provider may charge a fee for withdrawal

referred to in the first subparagraph if the ability to charge such a fee

shown by the framework agreement with the payment service users

withdrawal of the payment order.



The amount of transmitted and received



section 16 of the payment service provider may deduct from the amount

to be transferred only under the conditions set out in

the second and third subparagraphs.



The beneficiary and the beneficiary's payment service provider may

agree that the supplier may deduct his own fees from

the amount transferred before crediting it to the recipient.

Payment transaction amount without any deduction of contributions and

fees should be accounted for separately in the information

be provided to the payee.



If other fees other than those referred to in the second subparagraph shall be deducted from

the amount transferred, the payer's payment service provider

ensure that the payee receives the full amount

It was indicated in the payment order. If the payment transaction

initiated by or through the payee, to the recipient's

payment service provider to ensure that your recipient receives the full

amount specified in the payment order.



Execution time and value date



section 17 the provisions of sections 18 to 22 apply to

payment transactions in Sweden carried out in euro or in

Swedish kronor.



The provisions of sections 18 to 22 is also valid for

payment transactions where there is a fluctuation between the euro

and Swedish kronor, about



1. the switching is done in Sweden, and



2. in the case of a transaction to or from another

country, the transfer of funds from one country to another takes place in euro.



The provisions of sections 18 to 22 are also applicable to other

payment transactions other than those referred to in the first and second

paragraphs. Provisions of 18, 19, 21 and 22 sections, however, is not

applicable, if otherwise agreed between

the payment service user and the payment service provider. If

the user and the provider, by way of derogation from section 18 of the first

subparagraph, contracts when crediting the payee's

vendor account no later than should occur, may not be

later than four business days after the payment order

received under section 9.



section 18 If a payment order is received under section 9, shall

the payer's payment service provider shall ensure that

payment transaction amount is credited

the payee's payment service provider's account at the latest at the

the end of the next business day.



For payment transactions initiated on paper may

the payment service provider may extend the time of one business day.



section 19 of a payment order initiated by or through a

payee shall be carried out within the time limits that have

agreed between the payee and his payment

payment service provider.



For direct debit, a payment order shall be made in such

time to payment transaction can be completed at the

agreed due date.



section 20 of the payee's payment service provider to valutera

and make the payment transaction amount available on

recipient's payment account.



The value date of crediting of the payee's

payment account shall be not later than the business day on which the

payment transaction amount is credited to the recipient's

payment service provider's account.



The payee's payment service provider shall ensure

the payment transaction amount to the recipient's

available as soon as possible after the amount

credited to the recipient's vendor account.



The credit value date for the payer's payment account debiting

fall at the earliest, when the amount of the transaction

be charged to this account.



section 21 where the payee does not have a payment account with the

the payment service provider for receiving the funds, it shall make

them available to the receiver within the time specified in the 18

and 19 sections.



section 22 If a consumer deposit cash on a payment account with the

a payment service provider shall ensure that the amount

made available and valuteras as soon as possible after the

date on which the funds were received.



If the deposit cash on a payment account is not

consumer, should the amount be made available and valuteras

no later than the next business day.



Liability and chargebacks



section 23 If a payment order has been carried out with the help of a unique

identifier, the payment order shall be deemed to have been effected

correct with regard to the payee specified

in the identification code.



If the unique identifier specified by the

the payment service user is incorrect, the payment service provider

not be responsible according to §§ 25-29 to

the payment transaction has not taken place or for defects

in the implementation of the transaction.



The payment service provider of the payment service users

left the payment order should, however, take reasonable steps

to get back the money the payment transaction concerned.

The supplier may charge a fee by the user for the measures

taken, on a framework agreement with the user admits it.



24 § even if the payment service user provides information to

the payment service provider in addition to that set out in Chapter 4. 4 §

first subparagraph 1 or 10 § 4 is the supplier only responsible

for the execution of a payment transaction in accordance with

the unique identifier specified by the user.



Payment transactions initiated by the payer



paragraph 25 of the payer's payment service provider is responsible to

the payer to a payment order to the payer has

initiated are carried out correctly.



If the payer's payment service provider can demonstrate that the

provider has received the payment transaction amount


in accordance with section 18, charge the recipient's provider to

the recipient of that transaction is carried out correctly.



section 26 Of the payer's payment service provider is responsible for

the execution of a payment transaction in accordance with paragraph 25 of the first

subparagraph, shall, without undue delay, refund

the amount of a transaction that is not implemented or implemented

inadequate to the payer or restore the debited

betalkontots account status to that which it would have had if

the poorly executed the transaction had not taken place.



If the payee is responsible for

the implementation of a transaction referred to in section 25, second paragraph, the

provider as soon as possible to set the transaction's amount

the recipient of payments or credit

recipient's payment account with the corresponding amount.



If a payer has initiated a payment order, and

payment transaction is not carried out, or is carried out

flawed, the payer's payment service provider on request

of the payer as soon as possible try to track

the payment transaction and notify the payer if

the result.



Payment transactions initiated by or through the

the payee



section 27 of the payee's payment service provider is responsible

vis-à-vis the consignee to pay the amount of the transaction

made available to the recipient under section 20 and to a

payment order initiated by or through a payee

are transferred correctly to the payer's payment service provider in

accordance with section 19.



A payment service provider is liable under the first subparagraph

and have tried to carry out a payment order shall as soon as

possible to transfer the payment order concerned to

the payer's payment service provider.



section 28 of the payer's payment service provider is responsible to

the payer for a not implemented or inadequately implemented

payment transaction initiated by or through the

the payee, but then the recipient's

payment service provider is responsible to the beneficiary according to 27

§.



A payer through a payment service provider is liable under

the first subparagraph shall refund the payment transaction amount

to the payer or restore the debited betalkontots

account status to that which it would have had if the

poorly executed the transaction had not taken place.



For a payment transaction initiated by or through the

the payee, and the transaction is not carried out, or

implemented poorly, to the recipient's payment service provider

at the request of the receiver as soon as possible try to track

the payment transaction and notify the recipient of

the result.



section 29 of the PSPS is responsible vis-à-vis their

respective payment service users for such charges and interest

that users must pay as a result of

payment transaction is not carried out or implemented

flawed.



Message incorrectly executed payment transactions



section 30 of the payment service provider may require that

the payment service user is responsible for payment transactions

amount, if the user does not notify the supplier without

undue delay after having received the knowledge that

the transaction has been carried out incorrectly. The same

If the supplier has provided information about the transaction

to the user or made information available to

This in accordance with the provisions of Chapter 4. and the user does not

notify the supplier within 13 months from the amount

charged to the account.



Right to recovery



section 31 where a payment transaction is not carried out, or

implemented poorly and the fault is attributable to a

payment service provider or intermediary which is not responsible

with regard to payment service users under 25 to 29 sections, the

provider who is responsible to a user under these

provisions the right to compensation by the supplier or

intermediary who caused that the transaction did not take place

or was implemented poorly.



Compensation shall be equal to the amount of losses, including amounts

paid to the payment service user, resulting in

the payment service provider in accordance with paragraphs 25 to 29.



Exemption from liability



32 § liability under this chapter shall arise not in cases of

exceptional or unpredictable circumstances such as the one

invoking circumstances has no influence over and

the consequences of which would have been unavoidable despite all

efforts. Responsibilities under this chapter shall arise not

either as a payment service provider is acting in accordance with

Swedish law or Union law.



Mandatory provisions



section 33 the provisions of this chapter shall not be waived for

the disadvantage of a PSU.



The first paragraph does not, however, prevent a payment service provider

get along with a payment service users that are not

consumer on derogations from the provisions of paragraph 1 of the first

paragraph, paragraphs 6-8, 13-15 sections and sections 25 to 30.



Chapter 6. The processing of personal data, etc.



Scope of the directive



1 § where a payment service provider or the person responsible for a

payments system review payment transactions to

able to detect such transactions as the vendor or the

Head of payment system, suspect or have reasonable

grounds to suspect is part of fraud in connection with

the provision and use of payment services, the

provider or the person responsible for a payment system

process personal data and keep records in accordance with §§ 2-9

which apply in addition to the personal data Act (1998:204).



Personal data treatment



§ 2 if it is necessary for the examination of

payment transactions in accordance with section 1, the following

personal data is processed:



1. data concerning the identity of the payment service user's passport or

other identity document, and



2. unique names to identify a particular person

payment service users.



Purpose of the registry



paragraph 3 of the Registry may be proved by a payment service provider or the

responsible for a payment system, if necessary

for review of payment transactions in accordance with section 1.



Content



4 § The register referred to in section 1 may only contain



1. name and person, coordination or corporate,



2. payment account identifier or equivalent,



3. such unique names referred to in paragraph 2 of 2, and



4. the other information revealed by examination of the

payment transactions in accordance with section 1.



Disclosure of data



5 § On suspicion of fraud persists after in-depth analysis,

get details of all circumstances that may indicate fraud

in connection with the provision or use of

payment services are provided to the police authorities or

The public prosecutor's Office.



Information in a registry referred to in article 1 may be disclosed to

payment service providers and those who have responsibility for a

payment systems where this information has been provided to the

The police or the public prosecutor's Office.



Disclosure in accordance with the second subparagraph may be made despite

3 Cape. section 12 of this Act, Chapter 1. section 10 of the Act (2004:297) on banking

and finance law or 3 Cape. section 12 of the Act (2011:755) on

electronic money. Law (2014:664).



section 6 of the Data from the register referred to in paragraph 1 of which has been provided

to the police or the public prosecutor's Office in accordance with

paragraph 5 shall not be disclosed to the data subject.

Law (2014:664).



Thinning



section 7 of an entry in a register referred to in section 1 to screen



1. If the police or the public prosecutor's Office decides to

not to open or to close an investigation into fraud in the

connection with the provision or use of

payment services,



2. If a preliminary investigation has been closed without criminal charges brought

in the light of the information provided,



3. If a court has informed judgment or a decision having reason

of the information provided and the judgment or decision has become final

power,



4. no later than three years after the information provided to the

The police or the public prosecutor's Office on the basis of paragraph 5 of the first

subparagraph, or



5. no later than three years after the information was collected, if the

data not previously submitted to the police

or the public prosecutor's Office on the basis of paragraph 5.



A payment service provider or a responsible for a

payment system becomes aware of a circumstance which

means that a task for screening as referred to in the first subparagraph 1, 2

or 3 to inform them that the vendor or the

Head of payment system has left out the task to

in accordance with paragraph 5. Law (2014:664).



Rectification and indemnity



§ 8 the provisions of 28 and 48 of the Act

(1998:204) for correction and compensation terms for the treatment of

personal information under this Act.



Professional secrecy



9 § The operating of a payment service provider or with

the charge for a payment system shall not

unauthorized disclosure of information in a registry referred to in article 1 or

information disclosed pursuant to paragraph 5.



Liability under Chapter 20. paragraph 3 of the criminal code should not follow the

that violate the ban.



Chapter 7. Access to payment systems



section 1 of the charge for a payment system to

ensure that the rules on access to the payments system is

objective, non-discriminatory and proportionate. Policies

must not prevent access to a greater extent than what is

necessary to protect against the risks of the business and for

to protect payment system's financial and operational

stability.



Policies on access to payment systems should not restrict

in fact, participation in other payment systems or

discriminate against payment service providers because of the legal

form in which their activities are carried out.



section 2 of A payment service provider in accordance with Chapter 1. section 3 which is a

legal person may not be denied access to a

payment, if the payment service provider complies with such

conditions for access to the payment system imposed in

accordance with section 1.



section 3 of the provisions of paragraphs 1 and 2 shall not apply to



1. payment according to law (1999:1309) on deposit


settlement of obligations in the financial market, or



2. payment systems in which a payment service provider seems to

or can act as both the payer and the payee's

payment service provider and is solely responsible for

payment system management, and his payment service provider

allow other payment service providers to participate in

the payment system without these can negotiate fees

between themselves in respect of the payment system.



Chapter 8. Supervision and intervention



Scope of supervision



paragraph 1 of the financial supervision authority oversees the application of the provisions of

This Act is being complied with, as well as the provisions of the European Parliament's

and Council Regulation (EC) no 924/2009 of 16 september

2009 on cross-border payments in the community and

repealing Regulation (EC) No 2560/2001 and in

European Parliament and Council Regulation (EU) no 260/2012 of

on 14 March 2012 concerning the adoption of technical and business

requirements for credit transfers and direct debits in euros and amending

by Regulation (EC) no 924/2009.



For payment institutions and registered

payment service providers include supervision even to their

payment service business is conducted according to regulations

regulates their activities, articles of incorporation, by-laws and

internal instructions based on a Constitution which

governing its operations. In the case of supervision of other

payment service providers referred to in Chapter 1. paragraph 3 of the terms of

the provisions of the laws governing its operations,

subject to the provisions of this law.



The financial supervision authority shall consult the competition authority

before an enforcement measure or action taken against any

responsible for payment systems for infringement of

Chapter 7. 1 and 2 sections. Law (2014:220)



section 2 payment institutions, registered payment service providers

and the charge for a payment system to

provide the financial supervision authority the information on their activities and

related circumstances that the inspection request.



2 a § Government or authority the Government determines

announces that certain tasks according to section 2 of the

must be submitted to the financial supervision authority instead to be given to

The central statistical office. Law (2014:493).



Site survey



section 3 of the financial supervision authority may, where necessary, implement a

survey of



1. a payment institution,



2. a registered payment service provider, and



3. foreign companies that provide payment services in

Sweden under Chapter 3. 26 and 27 §§.



If necessary for the supervision of a payment institution or a

registered payment service provider, the financial supervisory authority

conduct a survey of



1. a branch of the Institute;



2. a representative of the institution or provider, and



3. a company has been commissioned to carry out certain work

or some functions to the institution or provider.



A study of a registered payment service provider may

only include the activities relating to the provision of

payment services.



Cooperation between competent authorities



paragraph 4 of the financial supervision authority shall in its supervisory activities work together

and exchange information with the competent authorities in the EEA.

The inspection will also cooperate and exchange information with

The European central bank, national central banks and other

the competent authorities designated in accordance with Union law

applicable to payment service providers.



A competent authority within the EEA may attend a control

performed by the Swedish financial supervisory authority.



The financial supervision authority may delegate the task of carrying out a

on-the-spot inspection by a branch or agent of a

payment institutions under its supervision to a competent

authority in another country within the European economic area.



Register of payment institutions and registered

payment service providers



paragraph 5 of the financial supervision authority shall maintain a register of

payment institutions, registered payment service providers,

their agents and affiliates. The register shall contain information on the

What payment services as payment institutions, registered

payment service providers, their agents and branches have the right to

provide. The register shall be accessible at

The Swedish financial supervisory authority.



Audit



section 6 of The auditor or auditors shall immediately

report to the Swedish financial supervisory authority if he or she at

the performance of their mission in a payment institution shall

knowledge of facts which



1. can constitute a material violation of any Constitution

governing the activities of the Institute,



2. could affect the institution's continuing drift negative, or



3. can lead to the auditor objects to the balance sheet

or the profit and loss account fixed or to note

According to Chapter 9. 33 or 34 § the Swedish companies Act (2005:551) or

Chapter 8. section 13 of the Act (1987:667) about cooperative entities.



Auditor and Inspector has a corresponding

reporting requirements if he or she becomes aware of

conditions referred to in the first subparagraph in relation to

Mission of the Institute's parent or

subsidiaries or a company that has a similar

connected with the payment institution.



Contributions to the financial supervision authority



section 7 of the payment institution and registered

payment service providers should pay fees

The financial supervision authority and statistics

activities according to the law (2014:484) on a database for

monitoring and supervision of the financial markets.

Law (2014:493).



Action against the payment institution



section 8 where a payment institution has failed to fulfil its obligations

under this law, the European Parliament and of the Council

Regulation (EC) no 924/2009 of the European Parliament and

Council Regulation (EU) no 260/2012, administrative provisions

regulates the activities of the Institute, the Institute's articles of Association,

statutes, regulations or internal instructions have their

based on a Constitution that regulates the activities of the Institute,

to the financial supervision authority Act.



The financial supervision authority shall issue an order to

within some time limit operations in any respect,

reduce risk in it or take any other action to

coming to terms with the situation, a ban that the effect

decision or a note. If the infringement is serious

should the payment institution's authorisation is withdrawn or, if it is

sufficient warning is announced. Law (2014:220).



9 § financial supervisory authority may refrain from intervention under section 8,

If a breach is insignificant or pardoned, if

payment institution make the correction or if any other

Authority has taken action against the institution that are judged to be

sufficient.



paragraph 10 of the financial supervision authority shall revoke a payment institution

permit, if a person who is part of the institution's Board of directors or

is the Executive Director no longer fulfils the conditions

specified in Chapter 2. 6 § 4 or if a person who is responsible for

payment service business no longer fulfils the conditions

specified in Chapter 2. 6 § 5. This should be done only if the inspection

first have decided to object of the Institute that the person

and if he or she still remains in the

the Board of Directors, Executive Director, or as the person responsible for

payment service business after one of the inspection

fixed period not exceeding three months have expired.



Instead of withdrawing the State financial supervisory authority may

decide that a Board Member, Executive Director or

responsible for pay services may no longer be there.

The inspection will then appoint a replacement. Long mission

valid until the company has appointed a new Member of the Board,

Managing Director or responsible for

payment service business.



It provides for the Chief Executive Officer of first and

second subparagraphs shall apply by analogy to a Deputy to the

Executive Director.



In the case of the European company and the European cooperative that has such a

the management system referred to in articles 39 to 42 of the Council

Regulation (EC) No 2157/2001 or articles 37 to 41 of Council

Regulation (EC) No 1435/2003, the provisions relating to

the Board of Directors in the first paragraph of withdrawal of authorization

apply to the Supervisory Board.



section 11 of the financial supervision authority shall revoke the payment institution

State if



1. the institution has obtained the authorisation by making false

information, or by any other wrongful means,



2. it is not within one year of the authorization

granted have begun to pursue such activities as the condition

regards,



3. Institute for a continuous period of six months

has driven activities which the State intends,



4. it would pose a threat to the payment system

stability of the Institute continued to conduct its

payment service operations,



5. the Institute has declared that they refrain from the State,



6. the Institute has transferred all its activities relating to

payment services, or



7. the Institute been declared bankrupt or decision is made to

the Institute shall enter into compulsory liquidation.



In the cases referred to in the first subparagraph 1 – 4, instead warning

be notified if it is enough.



section 12 Of the authorization be revoked should the FSA decide

If the liquidation of the operation is to occur.



A withdrawal decision may be subject to prohibition

stay in business.



section 13 if a competent authority in another Member State has informed the

The financial supervision authority that a payment institution violated

regulations in the country, will the inspection take the measures

specified in sections 8-11 against the Institute, if there is any

circumstance referred to therein. The inspection shall inform the

competent authority of the measures taken.



Penalty



14 § where a payment institution has received note or

warning in accordance with section 8 or warning according to section 11, shall

The financial supervision authority may decide that the Institute should pay a

penalty.



Levy belongs to the State.



section 15 Penalty fee must amount to not less than 5 000 kroons and

not more than SEK 50 million.



The fee may not exceed 10% of the

the payment institution's turnover immediately preceding


fiscal year. If the infringement has taken place in the Institute's

first year of operation or if the data on the turnover otherwise

is missing or is inadequate, it may be estimated.



For a payment institution which also engages in other activities

than the provision of payment services as defined in Chapter 1. section 2 will

the turnover referred to in the second subparagraph shall refer to only the business with

payment services.



The fee must not be so large that the Institute not

comply with the requirements of Chapter 3. 2 §.



16 § when the penalty fee is determined, the Special

taking into account the gravity of the infringement, which has

led note or warning and how long

infringement has been going on.



Late fee



section 17 If a payment institution or a registered

payment service provider does not supply the information

prescribed pursuant to section 27 of the time, the financial supervisory authority

decide that the Institute should pay a late fee with

a maximum of 100 000 SEK.



Levy belongs to the State.



Enforcement of the decision on the penalty fee and late fee



18 § a penalty or late fee is to be paid to

The financial supervision authority within thirty days from the date of the decision

It has the force of res judicata or the length of time specified in

the decision.



section 19 of the financial supervision authority decision on the penalty or

late charge may be enforced under the enforcement of the beam

provisions, if the fee has not been paid within the time limit set by

set out in section 18.



If such penalty or late fee is not paid within

the period referred to in section 18, the Inspectorate leave it unpaid

the fee for the recovery. Provisions for recovery of

public debts Act (1993:891) for the recovery of

public debts, etc.



section 20 of a penalty or late fee has been decided

fall away to the extent that enforcement has not been

within five years from the date of the decision won the final.



Intervention against foreign companies



section 21 financial supervisory authority may submit to a foreign company

providing payment services in accordance with Chapter 3. 26

or 27 § making correction, if its activities with

payment services in Sweden are not carried out in accordance with the applicable

provisions on measures against money laundering and the financing of

terrorism or in accordance with European Parliament and Council

Regulation (EC) No 1781/2006 of 15 november 2006 on

information on the payer accompanying transfers of

funds and such a law that supplements the regulation.



The financial supervision authority may submit to a foreign company as

provide payment services from a branch or a

representative in accordance with Chapter 3. section 26 to make correction on its activities

with payment services in Sweden are not carried out in accordance with 4 and

Chapter 5.



If a company fails to comply with an order under the first

or the second paragraph, the financial supervision authority shall inform the

competent authority of the home Member State.



If correction is not done, the financial supervision authority may prohibit the

company to launch new payment transactions here in

the country. Before the ban is announced to the inspection, notify the

competent authority of the home Member State. In urgent cases

the inspection may notify prohibition without prior notice

to the authority of the home Member State. This will, however,

be notified as soon as it can be.



section 22 If a foreign company operating under 3

Cape. 26 or 27 § takes its business license revoked

of the home Member State, the financial supervision authority immediately prohibit the company

to initiate new transactions in this country.



Action against registered payment service providers and others.



section 23 for a registered payment service provider or

responsible for a payment system has failed to fulfil its

obligations under this law, the European Parliament and of the Council

Regulation (EC) no 924/2009 of the European Parliament and the Council

Regulation (EU) no 260/2012 or administrative provisions

governing its activities, the financial supervision authority shall submit to the

registered payment service provider or the person responsible for

a payment system that within certain period of time to take action to

to correct the situation or to cease

the business.



If a registered payment service provider as described in Chapter 2. 5 §

do not submit the application for authorisation, the financial supervisory authority

submit to the payment service provider to submit an application.

If the payment service provider does not comply with the order

should the inspection order him to cease operations.



If it is uncertain if the licence is in respect of

some payment service activities, the financial supervision authority shall submit to the

that drive business to provide information on the activities

needed to assess whether that is the case. Law (2014:220).



Intervention against the which does not have a permit or registration



section 24 If any driver from activities covered by this

law without being entitled to it, the financial supervisory authority

order him to cease operations.



If it is uncertain whether the law applicable to a given

activities, the supervision authority shall submit to the

activities that provide information on business

the inspection needs to assess if this is the case.



An injunction under the first or second paragraph relating to

a foreign company may be directed against the company as well as the

as in Sweden and works for the company's behalf.



VITE



section 25 Of the financial supervision authority notifies the injunction or prohibition

under this Act, the supervision authority shall submit to the penalty.



Appeal



section 26 of the Financial Supervisory Authority's decision under section 23, third subparagraph, and

24 section may not be appealed.



Other decisions by the Swedish financial supervisory authority under this Act may

be appealed to a general administrative court. However, this does

No decision in the cases referred to in paragraph 5

Administrative Procedure Act (1986:223).



Leave to appeal is required in the case of appeal to the administrative court.



The financial supervision authority may provide that a decision on the ban,

injunction or withdrawal to take effect immediately.



Appropriations



section 27 of Government or authority the Government determines

may provide for



1. what information a payment institution, a registered

payment service provider or with responsibility for

a payment system shall submit to the financial supervision authority for

its supervisory activities, and



2. the fees referred to in section 7.



Transitional provisions



2010:751



1. This law shall enter into force on 1 August 2010.



2. By the Act repeals Act (1999:268) if

payment transfers in the European economic

area.



3. Legal persons engaged in the business of payment services

before 25 december 2007 may continue to

end of april 2011, without authorisation under this

team. If the FSA deems that the conditions for

authorisation in accordance with Chapter 2. 6 and 7 sections are met for such a

legal person shall inform the financial supervision authority permits

whether the entity has applied for authorization

or not. The financial supervision authority shall inform the

legal entity before granting the permit.



4. Financial institutions engaged in the business of

remittance before 25 december 2007 and which is

a subsidiary of a parent undertaking governed by

supervision on a consolidated basis in accordance with Chapter 9. Act (2006:1371) if

capital adequacy and large exposures, and has informed the

The financial supervision authority thereof not later than september 25, 2010, will

not covered by the requirement for a licence pursuant to Chapter 2.



5. any natural or legal person engaged in the business of

payment services before 25 december 2007 and meet the requirements

for exemptions from the permit requirement in Chapter 2. 3 § may continue

with the business until the end of april 2011 without having

derogation in accordance with this law.



6. any natural or legal person engaged in the business of

payment services on 25 december 2007 or later that at

the entry into force of the Act operates requiring permits

or exemption from licence under this Act may

continue to run the business on a permit application

or exemption from licence under this Act has been given

before August 1, 2010, until the application tested

final, until 1 november 2010.



7. Until the end of december 2011, crediting

a payment recipient's payment service provider's account, with

way of derogation from Chapter 5. section 18, take place within a maximum period of three

business days after the payment order received in

accordance with Chapter 5. section 9. For payment transactions

initiated on paper gets credit for the same

conditions, by way of derogation from Chapter 5. section 18, take place within a

period of up to four business days.



8. Such changes in the framework contract relating to the conditions under

Cape. 10-19 sections in order to impose conditions in

accordance with the requirements of the said paragraphs shall,

No matter what is provided for in the agreement, to be implemented by

the payment service provider notifies the payment service user on

the changes at least one month before the date on which the proposed start

apply. Changes for the benefit of the payment service user may

be carried out without him will be notified in advance. If

payment service user does not accept the proposed changes

the user should inform the supplier thereof before the date

the amendment is proposed to come into force.