Title IV: Rights and Obligations in Relation to the Provision and Use of Payment Services (Chapter 3, Arts 78-93): execution of payment transactions
Gabriella Gimigliano & Marta BožinaBeroš, eds, THE PAYMENT SERVICE DIRECTIVE II: A COMMENTARY (Cheltenham, UK Northampton, MA, USA: Edward Elgar, 2021) 163-179.
Payment order; Amount transferred; Execution; Value date; Liability
PSD2 Title IV Chapter 3, consisting of arts 78 – 93, addresses rights and obligations between the payment service user and the payment service provider in connection with the execution of payment transactions. It innovates in providing for the liability of a payment initiation service, a newly defined payment service provider.
Section 1 deals with receipt, refusal and irrevocability payment orders as well as with amounts transferred. By references to all currencies, Section 2 covers execution time and value date. Addressing liability, Section 3, contains rules allocating responsibility in cases of non-execution or defective execution.
Discussion in this book chapter addresses the provisions of Title IV Chapter 3 both on their own and by reference to prominent elements of the relevant law in the United States.
Geva, Benjamin, "Title IV: Rights and Obligations in Relation to the Provision and Use of Payment Services (Chapter 3, Arts 78-93): execution of payment transactions" (2021). Articles & Book Chapters. 2876.