Notification obligation of the limited network exclusion under the law on payment services

The CSSF draws the attention of issuers of specific payment instruments that can be used only in a limited way (e.g. gift cards, fuel cards, meal vouchers, etc.) on their notification obligation. 

In connection with the publication of Circular CSSF 22/812, the CSSF would like to draw the attention of all issuers of specific payment instruments that can be used only in a limited way on their obligation to notify the use of the limited network exclusion pursuant to the Law of 10 November 2009 on payment services.

In this context, “specific payment instrument that can be used only in a limited way” shall mean an instrument that allows (i) acquiring goods or services only in the premises of the issuer or within a limited network of merchants or (ii) acquiring only a very limited range of goods or services. This includes, for example, store cards, gift cards, fuel cards, shopping centre cards, meal vouchers, public transport cards, membership cards with a payment functionality, or other similar instruments.

The notification obligation to the CSSF applies to instruments that are usable from and in Luxembourg for which the total value of the payment transactions executed over the last 12 months exceeds the amount of EUR 1 million.

This obligation applies to all issuers of such instruments that fulfil the requirements, regardless of whether or not the entity is under the supervision of the CSSF or whether it is part of the financial sector or not.

Within one month from the moment the conditions are met, a notification must be submitted to the CSSF’s Innovation, Payments, Market Infrastructures and Governance (IPIG) department via the form available on our website.

Entities are invited to contact us directly at the address below in case of doubt as to the application of this exclusion or for any question: ipig@cssf.lu.