Law on Payment Services
Law on Payment Services (Ν. 31(Ι)/2018) and Electronic Money Law (Ν. 81(Ι)/2012) · st:cy-psl
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Dates
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In force from
Key provisions
2 in the graphThe article’s own text, quoted verbatim from the primary source below — a citable fact, not a summary. No plain-English explanation is shown: writing one would be legal analysis nobody sourced (docs/RULES.md R1). That register is reserved should sourced explanations be added later, and will never share this card’s styling.
Article 10 (Article 10 (Granting of Authorisation — Payment Institution))
prov:cy-pi-licence
ARTICLE TEXT — VERBATIM
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PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Grants (in the graph) Execute payment transactions (direct debits, card payments, credit transfers), Money remittance, Payment initiation services, Account information services, Place cash on a payment account, Cash withdrawal from a payment account
Article 4 (Article 4 (Authorisation of Electronic Money Institutions))
prov:cy-emi-licence
ARTICLE TEXT — VERBATIM
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PLAIN-ENGLISH EXPLANATION
Not built — see docs/RULES.md R1. This register is reserved for a future, separately sourced and cited explanation; it will never be filled with unsourced prose.
Grants (in the graph) Issue electronic money, Execute payment transactions (direct debits, card payments, credit transfers), Money remittance, Payment initiation services, Account information services
National regimes implementing it
2 regimesOne statute, implemented differently by each regime below — the same directive granting different activities, client types and capital figures market by market.
WhereAuthorityRegimeCapital · transitionFirms
CYCentral Bank of CyprusE-Money Institution / CyprusIssue electronic moneyEUR 350,000 source3 months source4
CYCentral Bank of CyprusPayment Institution / CyprusPlace cash on a payment account, Cash withdrawal from a payment account +6EUR 125,000 source3 months source1
Sources
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