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Directive 2007/64/EC - Payment Services Directive (PSD)RecitalsTitle I Subject Matter, Scope and Definitions (arts. 1-4)Article 1 Subject matterArticle 2 ScopeArticle 3 Negative scopeArticle 4 DefinitionsTitle II Payment Service Providers (arts. 5-29)Chapter 1 Payment institutions (arts. 5-27)Section 1 General rules (arts. 5-16)Article 5 Applications for authorisationArticle 6 Initial capitalArticle 7 Own fundsArticle 8 Calculation of own fundsArticle 9 Safeguarding requirementsArticle 10 Granting of authorisationArticle 11 Communication of the decisionArticle 12 Withdrawal of authorisationArticle 13 RegistrationArticle 14 Maintenance of authorisationArticle 15 Accounting and statutory auditArticle 16 ActivitiesSection 2 Other requirements (arts. 17-19)Article 17 Use of agents, branches or entities to which activities are outsourcedArticle 18 LiabilityArticle 19 Record-keepingSection 3 Competent authorities and supervision (arts. 20-25)Article 20 Designation of competent authoritiesArticle 21 SupervisionArticle 22 Professional secrecyArticle 23 Right to apply to the courtsArticle 24 Exchange of informationArticle 25 Exercise of the right of establishment and freedom to provide servicesSection 4 Waiver (arts. 26-27)Article 26 ConditionsArticle 27 Notification and informationChapter 2 Common provisions (arts. 28-29)Article 28 Access to payment systemsArticle 29 Prohibition for persons other than payment service providers to provide payment servicesTitle III Transparency of Conditions and Information Requirements for Payment Services (arts. 30-50)Chapter 1 General rules (arts. 30-34)Article 30 ScopeArticle 31 Other provisions in Community legislationArticle 32 Charges for informationArticle 33 Burden of proof on information requirementsArticle 34 Derogation from information requirements for low-value payment instruments and electronic moneyChapter 2 Single payment transactions (arts. 35-39)Article 35 ScopeArticle 36 Prior general informationArticle 37 Information and conditionsArticle 38 Information for the payer after receipt of the payment orderArticle 39 Information for the payee after executionChapter 3 Framework contracts (arts. 40-48)Article 40 ScopeArticle 41 Prior general informationArticle 42 Information and conditionsArticle 43 Accessibility of information and conditions of the framework contractArticle 44 Changes in conditions of the framework contractArticle 45 TerminationArticle 46 Information before execution of individual payment transactionsArticle 47 Information for the payer on individual payment transactionsArticle 48 Information for the payee on individual payment transactionsChapter 4 Common provisions (arts. 49-50)Article 49 Currency and currency conversionArticle 50 Information on additional charges or reductionsTitle IV Rights and Obligations in Relation to the Provision and use of Payment Services (arts. 51-83)Chapter 1 Common provisions (arts. 51-53)Article 51 ScopeArticle 52 Charges applicableArticle 53 Derogation for low value payment instruments and electronic moneyChapter 2 Authorisation of payment transactions (arts. 54-63)Article 54 Consent and withdrawal of consentArticle 55 Limits of the use of the payment instrumentArticle 56 Obligations of the payment service user in relation to payment instrumentsArticle 57 Obligations of the payment service provider in relation to payment instrumentsArticle 58 Notification of unauthorised or incorrectly executed payment transactionsArticle 59 Evidence on authentication and execution of payment transactionsArticle 60 Payment service provider's liability for unauthorised payment transactionsArticle 61 Payer's liability for unauthorised payment transactionsArticle 62 Refunds for payment transactions initiated by or through a payeeArticle 63 Requests for refunds for payment transactions initiated by or through a payeeChapter 3 Execution of payment transactions (arts. 64-78)Section 1 Payment orders and amounts transfer red (arts. 64-67)Article 64 Receipt of payment ordersArticle 65 Refusal of payment ordersArticle 66 Irrevocability of a payment orderArticle 67 Amounts transferred and amounts receivedSection 2 Execution time and value date (arts. 68-73)Article 69 Payment transactions to a payment accountArticle 70 Absence of payee's payment account with the payment service providerArticle 71 Cash placed on a payment accountArticle 72 National payment transactionsArticle 73 Value date and availability of fundsArticle 68 ScopeSection 3 Liability (arts. 74-78)Article 74 Incorrect unique identifiersArticle 75 Non-execution or defective executionArticle 76 Additional financial compensationArticle 77 Right of recourseArticle 78 No liabilityChapter 4 Data protection (art. 79)Article 79 Data protectionChapter 5 Out-of-court complaint and redress procedures for the settlement of disputes (arts. 80-83)Section 1 Complaint procedures (arts. 80-82)Article 80 ComplaintsArticle 81 PenaltiesArticle 82 Competent authoritiesSection 2 Out-of-court redress procedures (art. 83)Article 83 Out-of-court redressTitle V Implementing Measures and Payments Committee (arts. 84-85)Article 84 Implementing measuresArticle 85 CommitteeTitle VI Final Provisions (arts. 86-96)Article 86 Full harmonisationArticle 87 ReviewArticle 88 Transitional provisionArticle 89 Amendment of Directive 97/7/ECArticle 90 Amendments of Directive 2002/65/ECArticle 91 Amendments of Directive 2005/60/ECArticle 92 Amendments of Directive 2006/48/ECArticle 93 RepealArticle 94 TranspositionArticle 95 Entry into forceArticle 96 AddresseesAnnex - Payment Services (Definition 3 in Article 4)Done at
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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Published date: 5 December 2007

Directive 2007/64/EC - Payment Services Directive (PSD)

Recitals
Title I Subject Matter, Scope and Definitions (arts. 1-4)
Article 1 Subject matter
Article 2 Scope
Article 3 Negative scope
Article 4 Definitions
Title II Payment Service Providers (arts. 5-29)
Chapter 1 Payment institutions (arts. 5-27)
Section 1 General rules (arts. 5-16)
Article 5 Applications for authorisation
Article 6 Initial capital
Article 7 Own funds
Article 8 Calculation of own funds
Article 9 Safeguarding requirements
Article 10 Granting of authorisation
Article 11 Communication of the decision
Article 12 Withdrawal of authorisation
Article 13 Registration
Article 14 Maintenance of authorisation
Article 15 Accounting and statutory audit
Article 16 Activities
Section 2 Other requirements (arts. 17-19)
Article 17 Use of agents, branches or entities to which activities are outsourced
Article 18 Liability
Article 19 Record-keeping
Section 3 Competent authorities and supervision (arts. 20-25)
Article 20 Designation of competent authorities
Article 21 Supervision
Article 22 Professional secrecy
Article 23 Right to apply to the courts
Article 24 Exchange of information
Article 25 Exercise of the right of establishment and freedom to provide services
Section 4 Waiver (arts. 26-27)
Article 26 Conditions
Article 27 Notification and information
Chapter 2 Common provisions (arts. 28-29)
Article 28 Access to payment systems
Article 29 Prohibition for persons other than payment service providers to provide payment services
Title III Transparency of Conditions and Information Requirements for Payment Services (arts. 30-50)
Chapter 1 General rules (arts. 30-34)
Article 30 Scope
Article 31 Other provisions in Community legislation
Article 32 Charges for information
Article 33 Burden of proof on information requirements
Article 34 Derogation from information requirements for low-value payment instruments and electronic money
Chapter 2 Single payment transactions (arts. 35-39)
Article 35 Scope
Article 36 Prior general information
Article 37 Information and conditions
Article 38 Information for the payer after receipt of the payment order
Article 39 Information for the payee after execution
Chapter 3 Framework contracts (arts. 40-48)
Article 40 Scope
Article 41 Prior general information
Article 42 Information and conditions
Article 43 Accessibility of information and conditions of the framework contract
Article 44 Changes in conditions of the framework contract
Article 45 Termination
Article 46 Information before execution of individual payment transactions
Article 47 Information for the payer on individual payment transactions
Article 48 Information for the payee on individual payment transactions
Chapter 4 Common provisions (arts. 49-50)
Article 49 Currency and currency conversion
Article 50 Information on additional charges or reductions
Title IV Rights and Obligations in Relation to the Provision and use of Payment Services (arts. 51-83)
Chapter 1 Common provisions (arts. 51-53)
Article 51 Scope
Article 52 Charges applicable
Article 53 Derogation for low value payment instruments and electronic money
Chapter 2 Authorisation of payment transactions (arts. 54-63)
Article 54 Consent and withdrawal of consent
Article 55 Limits of the use of the payment instrument
Article 56 Obligations of the payment service user in relation to payment instruments
Article 57 Obligations of the payment service provider in relation to payment instruments
Article 58 Notification of unauthorised or incorrectly executed payment transactions
Article 59 Evidence on authentication and execution of payment transactions
Article 60 Payment service provider's liability for unauthorised payment transactions
Article 61 Payer's liability for unauthorised payment transactions
Article 62 Refunds for payment transactions initiated by or through a payee
Article 63 Requests for refunds for payment transactions initiated by or through a payee
Chapter 3 Execution of payment transactions (arts. 64-78)
Section 1 Payment orders and amounts transfer red (arts. 64-67)
Article 64 Receipt of payment orders
Article 65 Refusal of payment orders
Article 66 Irrevocability of a payment order
Article 67 Amounts transferred and amounts received
Section 2 Execution time and value date (arts. 68-73)
Article 69 Payment transactions to a payment account
Article 70 Absence of payee's payment account with the payment service provider
Article 71 Cash placed on a payment account
Article 72 National payment transactions
Article 73 Value date and availability of funds
Article 68 Scope
Section 3 Liability (arts. 74-78)
Article 74 Incorrect unique identifiers
Article 75 Non-execution or defective execution
Article 76 Additional financial compensation
Article 77 Right of recourse
Article 78 No liability
Chapter 4 Data protection (art. 79)
Article 79 Data protection
Chapter 5 Out-of-court complaint and redress procedures for the settlement of disputes (arts. 80-83)
Section 1 Complaint procedures (arts. 80-82)
Article 80 Complaints
Article 81 Penalties
Article 82 Competent authorities
Section 2 Out-of-court redress procedures (art. 83)
Article 83 Out-of-court redress
Title V Implementing Measures and Payments Committee (arts. 84-85)
Article 84 Implementing measures
Article 85 Committee
Title VI Final Provisions (arts. 86-96)
Article 86 Full harmonisation
Article 87 Review
Article 88 Transitional provision
Article 89 Amendment of Directive 97/7/EC
Article 90 Amendments of Directive 2002/65/EC
Article 91 Amendments of Directive 2005/60/EC
Article 92 Amendments of Directive 2006/48/EC
Article 93 Repeal
Article 94 Transposition
Article 95 Entry into force
Article 96 Addressees
Annex - Payment Services (Definition 3 in Article 4)
Done at
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