The activities referred to in ELM 4.3.1 R are:
the provision of financial and non-financial services closely related to issuing e-money, such as:
the administering of e-money by the performance of operational and other ancillary functions related to its issuance; and
the issuing and administering of other means of payment; and
the storing (on behalf of other undertakings or public institutions) of data on e-money electronic devices on which e-money issued by the firm is stored or which can be used to use or spend e-money issued by the firm;
but excluding the granting of any form of credit.