Tasks of BaFin in relation to Card Payment Schemes, Exemptions for New Payment Methods in Mass Payments; Authorisation to Issue Statutory Instruments

(1) BaFin monitors compliance with the obligations of operators of card payment schemes under Regulation (EU) 2015/751; it may issue orders against operators of card payment schemes that are appropriate and necessary to prevent or put a stop to breaches of the obligations under that Regulation.
(2) BaFin is the competent authority under Article 4(4) of Regulation (EU) No 260/2012 to which applications under Article 4(4) of that Regulation must be made where the applicant has its registered office in Germany.
(3) The Federal Ministry of Finance is authorised to issue, by statutory instrument not requiring the consent of the Bundesrat, in agreement with the Deutsche Bundesbank, more detailed provisions on the content, type and scope of the particulars, evidence and documents that an application under Article 4(4) of Regulation (EU) No 260/2012 must contain. The Federal Ministry of Finance may transfer the authorisation, by statutory instrument, to BaFin, on condition that the statutory instrument is issued in agreement with the Deutsche Bundesbank. The leading associations of the payment service providers must be heard before the statutory instrument is issued.