retail payment system
Defined in Article 2, Regulation (EU) No 260/2012
Uses as of 31/10/2012
Definitions over time (1)
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31/03/2012 – 31/01/2014 applies on 31/10/2012 Article 2, Regulation (EU) No 260/2012 Scope: Whole act
For the purposes of this Regulation, the following definitions apply:
‘retail payment system’ means a payment system the main purpose of which is to process, clear or settle credit transfers or direct debits, which are generally bundled together for transmission and are primarily of small amount and low priority, and that is not a large-value payment system;
Other definitions of this term in this act (1)
Each has its own scope, dates and uses. Open one to see when it applies.