The European Commission has updated its questions and answers on the Payment Services Directive (PSD). The following answers have now been included:

  • Article 3(m) PSD: Payment transactions between payment service providers – Message types (question 184).
  • Article 4(20) PSD: Definitions of 'micro-enterprises' (question 209).
  • Article 28 PSD: Access to payment systems - Payment institutions passporting by way of freedom to provide services or right of establishment (question 195).
  • Article 29 PSD: Provision of payment services – Money remittance (question 179).
  • Article 35 PSD: Information requirements – Single payment transactions (question 176).
  • Article 38 PSD: Provision of information on exchange rate (question 206).
  • Article 44(1) PSD: Card transactions – Credit/spending limits (question 191).
  • Articles 47(2) and 48(2) PSD: Information – Individual payment transactions under framework contract (question 192).
  • Articles 52(2) & 67(1) PSD: Charges – 'BEN' and the full amount principle (question 183).
  • Article 62 PSD: Direct debit – Immediate refund (question 211).
  • Article 63 PSD: Refund – Direct debit (question 182).
  • Article 65 PSD: Payment transaction – Refusal (reject/return) (question 177).
  • Article 66 PSD: Irrevocability of payment order – Payment card recurring transactions (question 189).
  • Article 66(3) PSD: Revocability of payment orders – Direct debit (question 178).
  • Article 66(4) PSD: Direct debits – Irrevocability (question 185).
  • Articles 68(1) & 69(1) PSD: Maximum execution time – Currency conversion (question 207).
  • Article 69 PSD: Direct debit due dates (question 197).
  • Article 73 PSD: Value date (question 208).
  • Article 73(1) PSD: Value date – Future payment transactions (question 201).
  • Article 75 PSD: Liability – Allocation of responsibilities between payment service providers (question 205).
  • General: Payment transactions – Money remittance and full amount principle (question 180).
  • Title IV, Article 52 PSD: Transaction – Field 71A: OUR on Target II payments (question 196).

View European Commission updates Payment Services Directive Q&A, 15 April 2009