The following Financial Services Q&A provides comprehensive and up to date legal information covering:
A fuel card could be viewed as a ‘payment instrument’ under regulation 2 of the Payment Services Regulations 2009, SI 2009/209.
The first Directive 2007/64/EC, Payment Services Directive (PSD1) was required to be implemented by 1 November 2009 by the Member States. PSD1 was intended to regulate payment services providers (PSPs) and harmonise the payments sector within the EU.
We refer you to the Practice Note: Payment Services Regulations 2017—scope, in particular the section ‘What is a 'payment service'?’ which you may find useful for your purposes. You will note that a number of those services relate to payment instruments.
A 'payment instrument' is
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