The Bank of Latvia applies a limited network exclusion to SIA Lieliska dāvana gift cards of shopping centre

Ramona Miglāne

In Bankas un Finanses, Banking and Finance, FinTech, FinTech, Regulētais tirgus Posted September 21, 2023

We are very pleased that with drill. assistance the Bank of Latvia has applied the limited network exclusion provided in #PSD2 to SIA Lieliska dāvana and published a description of the client’s services on its website and in the EBA Central Register. SIA Lieliska dāvana has been recognised as a person entitled to provide the service of issuing shopping centre gift cards without the need to obtain a licence to operate as a payment institution or electronic money institution. This means that although SIA Lieliska dāvana gift cards are recognised as payment instruments, they are not subject to #PSD2 and the Payment Institutions and Electronic Money Law of Latvia.

It should be noted that there has been ambiguous practice regarding the treatment of the issuance of shopping centre gift cards as the issuance of electronic money. We are therefore pleased that SIA Lieliska dāvana has set a positive example for other shopping centres.

A list of exclusions can be found here: https://uzraudziba.bank.lv/tirgus-dalibnieki/maksajumu-pakalpojumu-sniedzeji/iznemumi/