TaxTMI 
TaxTMI 
Payment Services, Thresholds and Conditions
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....art B, are Payment Services for the purposes of these regulations: a) account issuance service (including e-money account issuance service); b) e-money issuance service; c) escrow service; d) cross border money transfer service; e) merchant acquisition service. Part B Activities which are not Payment Services 2. The following activities are not....
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....terparties, clearing houses, central banks or other participants in the system; d) payment transactions related to securities asset servicing, including dividends, income or other distributions, or redemption or sale, carried out by persons referred to in sub-paragraph (c); e) payment transactions carried out between Payment Service Providers, or their agents or branch offices, f....
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....v) information technology; (v) communication network provision; and (vi) provision and maintenance of terminals and devices used for payment services; i) services based on specific payment instruments that can be used only in a limited way and meet one of the following conditions: (i) allow the holder to acquire goods or services only in the premises of the issu....
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....y average, over a calendar year, of the total value of all payment transactions that are accepted, processed, executed exceeds - A) $2 million (or its equivalent in a Specified Foreign Currency), for any one of the payment services (other than e-money account issuance service) mentioned in Part A of this schedule or; B) $4 million (or its equivalent in a Specified Foreign Currenc....