(1) Subject to paragraph (2), in the execution of a payment transaction, the payment service provider of the payer concerned, the payment service provider of the payee concerned and any intermediaries of the payment service providers shall transfer the full amount of the payment transaction and shall not deduct charges from the amount transferred.
(2) A payee and a payment service provider may agree that the payment service provider may deduct its charges from the amount transferred before crediting it to the payee, in which case the full amount of the payment transaction and charges shall be separated in the information given to the payee.
(3) Where any charges other than those referred to in paragraph (2) are deducted from an amount transferred, the payment service provider of the payer concerned shall ensure that the payee concerned receives the full amount of the payment transaction initiated by the payer.
(4) Where a payment transaction is initiated by or through a payee, the paym
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