---
instrument_id: psr
chunk_id: psr_t02_ch02
chunk_title: Single payment transactions
path: "Title II TRANSPARENCY OF CONDITIONS AND INFORMATION REQUIREMENTS FOR PAYMENT SERVICES > Chapter 2"
source_class: operative_text
document_type: proposal
normative_weight: non_binding
legal_status: council_compromise_text
jurisdiction: EU
effective_period:
  from: null
  to: null
articles_contained:
  - 11
  - 12
  - 13
  - 14
  - 15
  - 16
  - 17
topics:
  - payments
  - payment_services
  - single_payment_transactions
  - information_requirements
recitals:
  - number: 70
    text: "Security of credit transfers is fundamental for increasing the confidence of payment service users in such services and ensuring their use. Payers intending to send a credit transfer to a given payee may, as a result of fraud or error, provide a unique identifier which does not correspond to an account held by that payee. To contribute to the reduction of fraud and errors, payment service users should benefit from a service which verifies whether the unique identifier of the payee and the name of the payee, as provided by the payer, match and, should a mismatch be detected, notifies the payer thereof. Where the payee is a legal person, this service could be carried out by verifying a match between the unique identifier of the payee and another data element, such as a fiscal number, a European unique identifier as referred to in Article 16(1), second subparagraph, of Directive (EU) 2017/1132 of the European Parliament and of the Council7, or a legal entity identifier (LEI), that unambiguously identifies the payee, if the payer is allowed to submit such data element via a payment initiation channel of the payer’s payment service provider and such data element is available in the internal systems of payee’s payment service provider. Where the payment account of the payee is not identified by IBAN, other type of unique identifier should be used to unambiguously identify the payment account of the payee. Such services, in the countries where they exist, have had a substantial positive impact on the level of fraud and errors. Given the importance of that service for the prevention of fraud and errors, such service should be available free of charge to payment service users. To avoid undue frictions or delays in the processing of the transaction, the payment service provider of the payer should provide such notification within no more than a few seconds from the moment the payer has entered the payee information. To enable the payer to decide whether to proceed with the intended transaction, the payment service provider of the payer should provide such notification before the payer authorises the transaction. Certain credit transfer initiation solutions may be available to payers allowing them to place a payment order without inserting themselves both the unique identifier and the name of the payee. In such cases, the payment service provider should ensure that the payee to whom the payer intends to send a credit transfer is identified correctly. relating to certain aspects of company law (codification) (OJ L 169, 30.6.2017, p. 46"
  - number: 81c
    text: "Regulation 2022/2065 on a Single Market For Digital Services and amending Directive 2000/31/EC (Digital Services Act) lays down fully harmonised rules on the provision of intermediary services in the internal market and on specific due diligence obligations tailored to certain specific categories of providers of intermediary services (‘mere conduit’, ‘caching’ and ‘hosting’ services). In particular, it imposes specific due diligence obligations on online platforms and online search engines, including those designated as very large online platforms or very large online search engines. Such due diligence obligations play an important role in preventing the proliferation of illegal content online, such as financial scams. For instance, hosting services providers are obliged to put in place user-friendly notice and action mechanisms to allow the reporting of illegal content, such as illegal offers of financial services or attempted fraud, to the hosting service. Providers of online platforms are also obliged to address notices from trusted flaggers as a priority. Where, based on the information provided by the payer to the payment service provider, or on other information available to the payment service provider, it can be considered that a fraudulent payment transaction originates in an item of information online, payment service providers should make use of the notification mechanisms referred to in Article 16 of Regulation (EU) 2022/2065 to notify providers of hosting services of the presence on their service of that specific item of information. Where Very Large Online Platforms and Very Large Online Search Engines comply with Article 16 of Regulation (EU) 2022/2065, in particular putting in place notice and action mechanisms that are easy to access and user-friendly, this shall be deemed compliant with the condition in Article 59a(3) to inform the recipients of their services of the procedure for reporting fraudulent actions. Payment service providers should also be able to apply for the trusted flagger status pursuant to Article 22 of Regulation (EU) 2022/2065."
---

# Chapter 2 - Single payment transactions

## Article 11 - Scope

1. This Chapter applies to single payment transactions not covered by a framework contract.

2. Where a payment order for a single payment transaction is transmitted by a payment instrument covered by a framework contract, the payment service provider shall not be obliged to provide or make available information which is already given to the payment service user on the basis of a framework contract with another payment service provider or which will be given to the payment service user according to that framework contract.

## Article 12 - Prior general information

1. Before the payment service user is bound by a single payment service contract or offer, the payment service provider shall make available to the payment service user, in an easily accessible manner, the information and conditions set out in Article 13 with regard to its own services. At the payment service user’s request, the payment service provider shall provide the information and conditions on paper or on another durable medium. The information and conditions shall be given in easily understandable words and in a clear, neutral and comprehensible manner, in an official language of the Member State where the payment service is offered or in any other language agreed between the parties.

2. If the single payment service contract has been concluded at the request of the payment service user using a means of distance communication which does not enable the payment service provider to comply with paragraph 1, the payment service provider shall fulfil its obligations under that paragraph immediately after the execution of the payment transaction.

3. Payment service providers may also comply with their obligations under paragraph 1 by providing to payment service users a copy of the draft single payment service contract or the draft payment order including the information and conditions set out in Article 13.

## Article 13 - Information and conditions

1. Payment service providers shall provide or make available to payment service users the following information and conditions:

   (a) a specification of the information or unique identifier to be provided by the payment service user in order for a payment order to be properly placed or executed;

   (b) the maximum execution time for the payment service to be provided;

   (c) where the payee's payment service provider is located outside the Union, the estimated time for the funds of credit transfers and money remittance transactions to be received by that payment service provider;

   (d) all charges payable by the payment service user to the payment service provider and, where applicable, a breakdown of those charges;

   (e) where applicable, the actual or reference exchange rate to be applied to the payment transaction;

   (f) where applicable, the estimated charges for currency conversion in relation to credit transfers and money remittance transactions, expressed as a monetary amount in the currency of the payer’s account and as a percentage mark-up over an aggregated mid-market exchange rate as referred to in Article 5(4). That mark-up and any other applicable charges shall be disclosed to the payer prior to the initiation of the payment transaction;

   (g) the alternative dispute resolution procedures available to the payment service user in accordance with Articles 90, 94 and 95.

2. In addition, payment initiation service providers shall, prior to initiation, provide the payer with, or make available to the payer clear and comprehensive information on all of the following:

   (a) the name of the payment initiation service provider, the geographical address of its head office and, where applicable, the geographical address of its agent or branch established in the Member State where the payment service is offered, and any other contact details, including electronic mail address, relevant for communication with the payment initiation service provider; and

   (b) the contact details of the competent authority designated under this Regulation.

3. Where applicable, any other relevant information and conditions set out in Article 20 shall be made available to the payment service user in an easily accessible manner.

## Article 14 - Information for the payer and payee after the placement of a payment order

Where a payment order is placed through a payment initiation service provider, the payment initiation service provider shall, immediately after initiation, provide or make available to the payer and, where applicable, to the payee all of the following data:

(a) confirmation of the successful placement of the payment order with the payer’s account servicing payment service provider;

(b) a reference enabling the payer and the payee to identify the payment transaction and, where appropriate, the payee to identify the payer, and any information transferred with the payment transaction;

(c) the amount of the payment transaction;

(d) where applicable, the amount of any charges payable to the payment initiation service provider for the transaction, and where applicable a breakdown of the amounts of such charges.

## Article 15 - Information for the payer’s account servicing payment service provider where a payment order is placed through a payment initiation service

Where a payment order is placed through a payment initiation service provider, the payment initiation service provider shall make available to the payer’s account servicing payment service provider the reference of the payment transaction.

## Article 16 - Information for the payer after receipt of the payment order

Immediately after receipt of the payment order, the payer’s payment service provider shall provide the payer with or make available to the payer, in the same way as provided for in Article 12(1), all of the following data with regard to its own services:

(a) a reference enabling the payer to identify the payment transaction and the information needed for the payer to unambiguously identify the payee, including the payee’s commercial trade name and, where available to the payment service provider and if different from the commercial trade name, the payee’s legal name;

(b) the amount of the payment transaction in the currency used in the payment order;

(c) the amount of any charges for the payment transaction payable by the payer and, where applicable, a breakdown of the amounts of such charges;

(d) where applicable, the exchange rate used in the payment transaction by the payer’s payment service provider or a reference thereto, where different from the rate provided in accordance with Article 13(1), point (e), and the amount of the payment transaction after that currency conversion;

(e) the date of receipt of the payment order.

## Article 17 - Information for the payee after execution

Immediately after the execution of the payment transaction, the payee’s payment service provider shall provide the payee with, or make available to the payee, in the same way as provided for in Article 12(1), all of the following data with regard to its own services:

(a) a reference enabling the payee to identify the payment transaction and, where appropriate, the payer and any information transferred with the payment transaction;

(b) the amount of the payment transaction in the currency in which the funds are at the payee’s disposal;

(c) the amount of any charges for the payment transaction payable by the payee and, where applicable, a breakdown of the amounts of such charges;

(d) where applicable, the exchange rate used in the payment transaction by the payee’s payment service provider, and the amount of the payment transaction before that currency conversion;

(e) the credit value date.