(1) A payment transaction is authorised by a payer only where the payer has given consent to execute the payment transaction.

(2) A payment transaction may be authorised by a payer either -

(a) prior to, or

(b) where agreed between the payer and the payment service provider, after,

the execution of the payment transaction.

(3) Consent to execute a payment transaction or a series of payment transactions shall be given in the form agreed between the payer and the payment service provider concerned.

(4) Consent to execute a payment transaction may be given via a payee or a payment initiation service provider.

(5) Consent may be withdrawn by a payer until such time as the payment order concerned is irrevocable under Regulation 104.

(6) Consent to execute a series of payment transactions may be withdrawn by a payer, in which case a payment transaction scheduled to be executed after the date the consent is withdrawn shall be unauthorised.

(7) The procedure for giving consent shall be agreed between the payer and the payment service provider concerned.