An Agent providing payment services on behalf of Community Electronic Money Institutions or Payment Institutions is a subject who promotes and concludes contracts relating to payment transactions in Italy, registered in the public register of the country in which the principal intermediary has obtained authorisation.

The payment service agents used by EU Electronic money Institutions/Payment Institutions to operate in Italy or the central contact point (when it has to be set up pursuant to art. 42, paragraph 3, of Legislative Decree no. 231/2007), in order to allow the controls and the adoption of the envisaged measures, communicate to the OAM the start of operations in the territory of the Republic, their updated data, any variations as well as the conclusion of their activity, according to the separate operating procedures summarised below.

In the case in which the establishment of the central contact point is foreseen, the communications and the other fulfilments as per art. 128-quater, paragraph 7 of the TUB, are carried out by the same central contact point, and not by the relative agents.

 

REFERENCE FRAMEWORKS

The agent that provides payment services for EU EMIs/PIs and the central contact point, which EU EMIs/PIs use to operate in Italy, in fulfilling the provisions of art. 128-quater, paragraph 7 of the Consolidated Banking Act, refer to different frameworks.

In particular:

 

CENTRAL CONTACT POINT

IT REQUIREMENTS

REGISTRATION PROCEDURES

MODALITIES AND FREQUENCY OF COMMUNICATIONS

CONTRIBUTIONS AND OTHER PAYMENTS

VADEMECUM

The central point of contact in order to submit Agent data must:

• download the "Registration Request" form;
• fill in every part of the form and sign it;
• send the undersigned form to This email address is being protected from spambots. You need JavaScript enabled to view it., and attach a copy of the payment of the one-off sum compensating for the work costs of the OAM data archive; (OAM Circular no. 40/21)
• wait for confirmation of authorization from the OAM;
• access the registration function;
• once the registration is complete, access the EU EMIs/PIs Private Area of the OAM portal;
• send the information related to the Agents (see facsimile template for sending), following the operating instructions contained in the User Manual;
• pay the contribution for the management of the IT system, which is proportional to the number of transmissions sent (OAM Circular no. 40/21);
• repeat the last two operations as described in the quarterly transmission calendar.

 

In the event of non-compliance by the Agents or the central contact point with the obligations arising from the provisions applicable to them, the OAM shall notify the Authority of the country of origin of such violation. In case the latter's measures prove to be inadequate, the OAM informs the Ministry of Economy and Finance which, after hearing the Ministry of Foreign Affairs, may prohibit these subjects from undertaking new operations in Italy.