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
Recital 29
(29) Payment initiation services enable the payment initiation service provider to provide comfort to a payee that the payment has been initiated in order to provide an incentive to the payee to release the goods or to deliver the service without undue delay. Such services offer a low-cost solution for both merchants and consumers and provide consumers with a possibility to shop online even if they do not possess payment cards. Since payment initiation services are currently not subject to Payment Services Directive (PSD1) — repealed, they are not necessarily supervised by a competent authority and are not required to comply with Payment Services Directive (PSD1) — repealed. This raises a series of legal issues, such as consumer protection, security and liability as well as competition and data protection issues, in particular regarding protection of the payment service users’ data in accordance with Union data protection rules. The new rules should therefore respond to those issues.