Changes from report parliamentary committee draft to plenary report

AddedAbsence of payee’s payment account with the payment service provider

AddedWhere the payee does not have a payment account with the payment service provider, the payment service provider who receives the funds for the payee shall make the funds available to the payee within the time limit laid down in Article 69(1).

AddedCash placed on a payment account

AddedWhere a consumer places cash on a payment account with that payment service provider in the currency of that payment account, the payment service provider shall ensure that the amount is made available and value dated immediately after receipt of the funds. Where the payment service user is not a consumer, the amount shall be made available and value dated at the latest on the following business day after receipt of the funds.

AddedNational payment transactions

AddedFor national payment transactions, Member States may provide for shorter maximum execution times than those provided for in this Section. Decisions taken under this Article shall be communicated by Member States to the Commission.

AddedValue date and availability of funds

Added1. The credit value date for the payee’s payment account shall be no later than the business day on which the amount of the payment transaction is credited to the payee’s payment service provider’s account.

Added2. The payment service provider of the payee shall ensure that the amount of the payment transaction is at the payee’s disposal immediately after that amount is credited to the payee’s payment service provider’s account where, on the part of the payee’s payment service provider, there is either of the following:

Added(a) no currency conversion;

Added(b) a currency conversion between the euro and a Member State currency or between two Member State currencies.

AddedThe obligation laid down in this paragraph shall also apply to payments within one payment service provider.

Added3. The debit value date for the payer’s payment account shall be no earlier than the time at which the amount of the payment transaction is debited to that payment account.

AddedIncorrect unique identifiers

Added1. If a payment transaction is executed in accordance with the unique identifier, the payment transaction shall be deemed to have been executed correctly with regard to the payee specified by the unique identifier.

Added2. If the unique identifier provided by the payment service user is incorrect, the payment service provider shall not be liable under Article 75 for non-execution or defective execution of the payment transaction.

Added3. The payer’s payment service provider shall make reasonable efforts to recover the funds involved in the payment transaction. The payee’s payment service provider shall cooperate in those efforts also by communicating to the payer’s payment service provider all relevant information for the collection of funds.

AddedWhere the collection of funds under the first subparagraph is not possible, the payer’s payment service provider shall provide to the payer, upon written request, all information available to the payer’s payment service provider and relevant to the payer in order for the payer to file a legal claim to recover the funds.

Added4. Where agreed in the framework contract, the payment service provider may charge the payment service user for recovery. The charge shall be reasonable and proportionate to the costs incurred.

Added5. If the payment service user provides information in addition to the information referred to in Article 13(1), point (a), or Article 20 point (b) (ii), the payment service provider shall be liable only for the execution of payment transactions in accordance with the unique identifier provided by the payment service user.

Added6. Where the unique identifier provided by the payment initiation service provider is incorrect, payment service providers shall be liable in accordance with Article 76.

AddedPayment service providers’ liability for non-execution, defective or late execution of payment transactions

Added1. Where a payment order is placed directly by the payer, the payer’s payment service provider shall, without prejudice to Article 54, Article 74(2) and (3), and Article 79, be liable to the payer for correct execution of the payment transaction, unless it can prove to the payer and, where relevant, to the payee’s payment service provider that the payee’s payment service provider received the amount of the payment transaction in accordance with Article 69(1). In that case, the payee’s payment service provider shall be liable to the payee for the correct execution of the payment transaction.

AddedWhere the payer’s payment service provider is liable under the first subparagraph, it shall immediately refund to the payer the amount of the non-executed or defective payment transaction, and, where applicable, restore the debited payment account to the state in which it would have been had the defective payment transaction not taken place.

AddedThe credit value date for the payer’s payment account shall be no later than the date on which the amount was debited.

AddedWhere the payee’s payment service provider is liable under the first subparagraph, it shall immediately place the amount of the payment transaction at the payee’s disposal and, where applicable, credit the corresponding amount to the payee’s payment account.

AddedThe credit value date for the payee’s payment account shall be no later than the date on which the amount would have been value dated, had the transaction been correctly executed in accordance with Article 73.

AddedWhere a payment transaction is executed late, the payee’s payment service provider shall ensure, upon the request of the payer’s payment service provider acting on behalf of the payer, that the credit value date for the payee’s payment account is no later than the date the amount would have been value dated had the transaction been correctly executed.

AddedIn the case of a non-executed or defectively executed payment transaction where the payment order is placed by the payer, the payer’s payment service provider shall, regardless of liability under this paragraph, on request and without charging the payer, make immediate efforts to trace the payment transaction and notify the payer of the outcome.

Added2. Where a payment order is placed by or through the payee, the payee’s payment service provider shall, without prejudice to Article 54, Article 74(2) and (3), and Article 79, be liable to the payee for correct transmission of the payment order to the payment service provider of the payer in accordance with Article 69(3). Where the payee’s payment service provider is liable under this subparagraph, it shall immediately re-transmit the payment order in question to the payment service provider of the payer.

AddedIn the case of a late transmission of the payment order, the amount shall be value dated on the payee’s payment account no later than the date the amount would have been value dated had the transaction been correctly executed.

AddedWithout prejudice to Article 54, Article 74(2) and (3), and Article 79, the payment service provider of the payee shall be liable to the payee for handling the payment transaction in accordance with its obligations under Article 73. Where the payee’s payment service provider is liable under this subparagraph, it shall ensure that the amount of the payment transaction is at the payee’s disposal immediately after that amount is credited to the payee’s payment service provider’s account. The amount shall be value dated on the payee’s payment account no later than the date the amount would have been value dated had the transaction been correctly executed.

AddedIn the case of a non-executed or defectively executed payment transaction for which the payee's payment service provider is not liable under the first and third subparagraphs, the payer's payment service provider shall be liable to the payer.

AddedWhere the payer’s payment service provider is so liable it shall, as appropriate and without undue delay, refund to the payer the amount of the non-executed or defective payment transaction and restore the debited payment account to the state in which it would have been had the defective payment transaction not taken place. The credit value date for the payer’s payment account shall be no later than the date the amount was debited.

AddedThe obligation under the fourth subparagraph shall not apply to the payer’s payment service provider where the payer’s payment service provider proves that the payee’s payment service provider has received the amount of the payment transaction, even if execution of payment transaction is merely delayed. If so, the payee’s payment service provider shall value date the amount on the payee’s payment account no later than the date the amount would have been value dated had it been executed correctly.

AddedIn the case of a non-executed or defectively executed payment transaction where the payment order is placed by or through the payee, the payee’s payment service provider shall, regardless of liability under this paragraph, on request and without charging the payer, make immediate efforts to trace the payment transaction and notify the payee of the outcome.

Added3. Payment service providers shall be liable to their respective payment service users for any charges for which they are responsible, and for any interest to which the payment service user is subject as a consequence of non-execution or defective, including late, execution of the payment transaction.

AddedLiability in the case of payment initiation services for non-execution, defective or late execution of payment transactions

Added1. Where a payment order is placed by the payer or by the payee through a payment initiation service provider, the account servicing payment service provider shall, without prejudice to Article 54 and Article 74(2) and (3), refund to the payer the amount of the non-executed or defective payment transaction and, where applicable, restore the debited payment account to the state in which it would have been had the defective payment transaction not taken place.

AddedThe burden shall be on the payment initiation service provider to prove that the payment order was received by the payer’s account servicing payment service provider in accordance with Article 64 and that within its sphere of competence the payment transaction was authenticated, accurately recorded and not affected by a technical breakdown or other deficiency linked to the non-execution, defective or late execution of the transaction.

Added2. If the payment initiation service provider is liable for the non-execution, defective or late execution of the payment transaction, it shall immediately compensate the account servicing payment service provider at its request for the losses incurred or sums paid as a result of the refund to the payer.

AddedAdditional financial compensation

AddedAny financial compensation additional to that provided for under this Section may be determined in accordance with the law applicable to the contract concluded between the payment service user and the payment service provider.

AddedRight of recourse

Added1. Where the liability of a payment service provider under Articles 56, 57, 59, 75 and 76 is attributable to another payment service provider or to an intermediary, that payment service provider or intermediary shall compensate the first payment service provider for any losses incurred or sums paid under Articles 56, 57, 59, 75 and 76. That shall include compensation where any of the payment service providers fail to apply strong customer authentication.

Added2. Further financial compensation may be determined in accordance with agreements between payment service providers or intermediaries and the law applicable to the agreement concluded between them.

AddedAbnormal and unforeseeable circumstances

AddedNo liability shall arise under Chapter 4 or 5 in cases of abnormal and unforeseeable circumstances beyond the control of the party pleading for the application of those circumstances, the consequences of which would have been unavoidable despite all efforts to the contrary, or where a payment service provider is bound by other legal obligations covered by Union or national law.

AddedData protection

AddedData protection

AddedPayment systems and payment service providers shall be allowed to process special categories of personal data as referred to in Article 9(1) of Regulation (EU) 2016/679 and Article 10(1) of Regulation (EU) 2018/1725 to the extent necessary for the provision of payment services and for compliance with obligations under this Regulation, in the public interest of the well-functioning of the internal market for payment services, subject to appropriate safeguards for the fundamental rights and freedoms of natural persons, including the following:

Added(a) technical measures to ensure compliance with the principles of purpose limitation, data minimisation and storage limitation, as laid down in Regulation (EU) 2016/679, including technical limitations on the re-use of data and use of state-of-the-art security and privacy-preserving measures, including pseudonymisation, or encryption;

Added(b) organizational measures, including training on processing special categories of data, limiting access to special categories of data and recording such access.

AddedOperational and security risks and authentication

AddedManagement of operational and security risks

Added1. Payment service providers shall establish a framework with appropriate mitigation measures and control mechanisms to manage operational and security risks relating to the payment services they provide. As part of that framework, payment service providers shall establish and maintain effective incident management procedures, including for the detection and classification of major operational and security incidents.

AddedThe first subparagraph shall be without prejudice to the application of Chapter II of Regulation (EU) 2022/2554 of the European Parliament and of the Council to:

Added(a) payment service providers referred to in Article 2(1), points (a), (b) and (d) of this Regulation;

Added(b) account information service providers referred to in Article 36(1) of Directive (EU) (PSD3); and

Added(c) payment institutions exempted pursuant to Article 34(1) of Directive (EU) (PSD3).