Subsection 1: Definitions

For the purposes of this section, the following definitions shall apply

1° "Instructing party" means either the person who holds an account with the payment service providers defined in point 3 and who authorises a transfer of funds from that account, or, if there is no account, the person who gives an order for the transfer of funds;

2° "Beneficiary" means the person who is the intended recipient of the transfer of funds;

3° "Payment service provider" means institutions other than finance companies governed by Title I and Chapters I to III, V and VI of Title II of Book V, as well as the Offices des postes et télécommunications in New Caledonia and French Polynesia, when they carry out fund transfers.

The intermediary payment service provider is a payment service provider which is neither that of the payer nor that of the payee and which receives and transmits a transfer of funds on behalf of the payer's or payee's payment service provider or another intermediary payment service provider;

4° "Transfer of funds" means any transaction carried out at least in part by electronic means, on behalf of an originator, through a payment service provider, with the aim of making funds available to a beneficiary, through a payment service provider, whether or not the originator and the beneficiary or the payment service provider of the originator and that of the beneficiary are the same person. Transfers of funds include:

a) A credit transfer within the meaning of c of 3° of II of Article L. 314-1;

b) A direct debit within the meaning of a of 3° of II of Article L. 314-1;

c) A transfer of funds within the meaning of 6° of II of Article L. 314-1;

d) A payment transaction carried out with a payment card or similar device within the meaning of b of 3° of II of Article L. 314-1;

5° "Batch transfer" means a set of several individual transfers of funds that are grouped together for transmission;

6° "Unique transaction identifier" means a combination of letters, numbers or symbols that is defined by the payment service provider in accordance with the protocols of the payment and settlement system or messaging system used to carry out the transfer of funds and that ensures the traceability of the transaction to the originator and beneficiary;

7° "Transfer of funds between private individuals" means a transaction between natural persons acting as consumers for purposes other than commercial or professional purposes;

8° "Cash" means cash, bearer negotiable instruments, goods used as cash reserves and prepaid cards. Coins containing at least 90% gold and uncoined metal such as ingots, nuggets and other agglomerates of native gold containing at least 99.5% gold constitute goods used as cash reserves.