(1) A payer shall have the right to use a payment initiation service provider to obtain payment services as referred to in paragraph 7 of the Schedule.

(2) The right referred to in paragraph (1) shall not apply where the payment account concerned is not accessible online.

(3) Where a payer gives its explicit consent for a payment to be executed in accordance with Regulation 88, the account servicing payment service provider shall perform the actions specified in paragraph (5) in order to ensure the payer’s right to use the payment initiation service.

(4) A payment initiation service provider shall -

(a) not, at any time, hold a payer’s funds in connection with the provision of a payment initiation service,

(b) ensure that the personalised security credentials of a payment service user are not, with the exception of the user and the issuer of the personalised security credentials, accessible to other parties and that they are transmitted by the payment initiation service provider by safe and efficient means,

(c) ensure that any other information about a payment service user, obtained when providing payment initiation services, is only provided to the payee concerned and only with the payment service user’s explicit consent,