Payment Services Directive (PSD2)
Table of Contents
Chapter I – SUBJECT MATTER, SCOPE AND DEFINITIONS
Chapter II – PAYMENT SERVICE PROVIDERS
Chapter III – TRANSPARENCY OF CONDITIONS AND INFORMATION REQUIREMENTS FOR PAYMENT SERVICES
Chapter IV – RIGHTS AND OBLIGATIONS IN RELATION TO THE PROVISION AND USE OF PAYMENT SERVICES
Chapter V – DELEGATED ACTS AND REGULATORY TECHNICAL STANDARDS
Chapter VI – FINAL PROVISIONS
Recitals (113)
Annexes
Chapter IV – RIGHTS AND OBLIGATIONS IN RELATION TO THE PROVISION AND USE OF PAYMENT SERVICES
Article 80
Irrevocability of a payment order
1. Member States shall ensure that the payment service user shall not revoke a payment order once it has been received by the payer’s payment service provider, unless otherwise specified in this Article.
2. Where the payment transaction is initiated by a payment initiation service provider or by or through the payee, the payer shall not revoke the payment order after giving consent to the payment initiation service provider to initiate the payment transaction or after giving consent to execute the payment transaction to the payee.
3. However, in the case of a direct debit and without prejudice to refund rights the payer may revoke the payment order at the latest by the end of the business day preceding the day agreed for debiting the funds.
4. In the case referred to in Article 78(2) the payment service user may revoke a payment order at the latest by the end of the business day preceding the agreed day.
5. After the time limits laid down in paragraphs 1 to 4, the payment order may be revoked only if agreed between the payment service user and the relevant payment service providers. In the case referred to in paragraphs 2 and 3, the payee’s agreement shall also be required. If agreed in the framework contract, the relevant payment service provider may charge for revocation.