ID 1049. Definitions
Payment institution collects payments on behalf of e-money institutions, money transmitters, money services businesses (MSBs), and 'virtual currency' issuers located outside of EEA. Do these payment instruments fall within the definition of "payment accounts" and are the balances held on such instruments fall within the definition of funds?
As enshrined in Article 2(1) of the Payment Services Directive (PSD), the PSD applies to payment services provided within the Community. According to Article 4(3) in combination with the Annex point 3, it covers the execution of payment transactions, including the transfer of funds on a payment account. 'Payment instruments', 'payment accounts' and 'funds' are further defined in Article 4.
Whether the collection of payments, as described in the question, fulfils these criteria, will depend on the specific circumstances and cannot be decided here.