(1) Apart from the issuance of electronic money, an electronic money institution may engage in the following activities:
(a) the provision of payment services;
(b) the granting of credit related to a payment service subject to paragraph (3);
(c) the provision of operational and closely related ancillary services such as ensuring the execution of payment transactions, foreign exchange services, safekeeping activities, and the storage and processing of data, in respect of the issuance of electronic money or to the provision of payment services referred to in subparagraph (a);
(d) the operation of payment systems referred to in point 6 of Article 4 of the Payment Services Directive and without prejudice to Article 28 of that Directive;
(e) business activities other than issuance of electronic money and the provision of payment services.
(2) The receipt of funds by an electronic money institution from an electronic money holder shall -
(a) be exchanged for electronic money without delay, a
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