S.L. 376.8 Art. 3Publication of the list of the most representative services linked to payment accounts.

(1) Following adoption by the European Commission of regulatory technical standards setting out EU standardised terminology in accordance with Article 3(4) of the Payment Accounts

Directive, the competent authority shall without delay, and at the latest within three months of entry into force of the EU standardised terminology, publish a list of the most representative services linked to a payment account and subject to a fee.

(2) The list of the most representative services linked to a payment account shall:

(a) feature at least 10 and no more than 20 of the most representative services linked to a payment account and subject to a fee, offered by at least one payment service provider in Malta;

(b) contain terms and definitions for each of the services identified;

(c) include only one term for each service in both Maltese and English;

(d) have regard to the services that are most commonly used by consumers in relation to their payment account; and have regard to the services that generate the highest cost (e) for consumers, both overall as well as per unit.