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AMLG2800 | Sector Specific Guidance: Telecommunications, Digital & IT Payment Service Providers

From HM Revenue & Customs · Anti-money laundering guidance for supervised businesses

Appendix 2 - Telecommunications, Digital & IT Payment Service Provider (TDITPSPs)

Who is this Appendix for:

The following applies to TDITPSPs under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (the Regulations.)

TDITPSP Definition:

A TDITPSP, as defined in the Regulations, means: “an undertaking which provides payment services consisting of the execution of payment transactions where the consent of the payer to execute a payment transaction is given by means of any telecommunication, digital or IT device and the payment is made to the telecommunication, IT system or network operator acting only as an intermediary between the payment service user and the supplier of the goods and services (and terms used in this definition which are defined in the Payment Services Regulations 2017 have the meanings given in those Regulations).

This means:

  • The payer gives consent to make the payment through any type of telecommunication, digital or IT device.

  • You receive the payment and transfer it to the supplier of goods and services as an intermediary.

If your business transmits money, or any representation of money where there is no other transaction, i.e for goods or services, your business is not a TDITPSP; you must instead register as a Money Service Business.

Exclusions

A TDITPSPs may not be required to register for supervision if they engage in this activity on an occasional or very limited basis.

If your business offers TDITPSP services as an ancillary to another regulated service under the Regulations, you should include TDITPSP services in your registration or application information.

You’re not a payment service provider if:

  • You simply accept a payment from a debit card or credit card for payment of goods or services you supplied to your customer.

  • Your customer only uses the device to instruct the bank to make a payment and the bank does not transmit the payment through your business or accounts.