Abstract

Both the Payment Services Directive (PSD2) and its Polish implementation provide for a special exemption for the application of payment services rules to so-called specific-purpose instruments. The purpose of the exemption was to avoid imposing onerous obligations in relation to issuing and enabling the use of payment instruments in relatively simple circumstances, e.g. payment for purchases in a particular shop chain. The current wording of the exemption refers to the defined concepts such as payment order and payment transaction - meaning that only the situations where the use of the instrument involves the transfer of funds to the payee are covered. A detailed analysis of the features of the solution from the viewpoint of statutory definitions and their interpretation is necessary in each case.