Payment Services Directive (PSD2)
Recital 31
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 31
(31) When exclusively providing payment initiation services, the payment initiation service provider does not at any stage of the payment chain hold the user’s funds. When a payment initiation service provider intends to provide payment services in relation to which it holds user funds, it should obtain full authorisation for those services.
Recital 31 of 113