# PSR Article 46 — Specific obligations of payment initiation service providers

Textual state: amended_substantial. 26 words changed

- Current text: Council final compromise text (Council document 8221/26) — not yet law.
- Compared against: COM(2023) 367 final — superseded.
- Classification is mechanical; method: https://paymentslaw.eu/method/
- Editorial review state: not_assessed. Markers are curated and selective, not a complete assessment.

Word-level diff, proposal → compromise: `{+text+}` was inserted, `[-text-]` was deleted.

## Paragraph 1

1. Payment initiation service providers shall: (a) provide account servicing payment service providers with the same information as the information requested from the payment service user when initiating the payment transaction directly; (b) provide services only where based on the payment service user’s [-permission, -]{+consent , +}in accordance with Article 49; (c) not hold at any time the payer’s funds in connection with the provision of the payment initiation service; (d) ensure that the personalised security credentials of the payment services user are not, with the exception of the payer and the issuer of the personalised security credentials, accessible to other parties and that they are transmitted by the payment initiation service provider through safe and efficient channels; (e) ensure that any other information about the payment services user obtained when providing payment initiation services, is only provided to the payee and only with the payment services user’s [-permission; -]{+consent; +}(f) every time a payment is initiated, identify itself towards the account servicing payment service provider and communicate with the account servicing payment service provider, the payer and the payee in a secure [-way. -]{+way; (fa) be able to refuse to initiate a payment transaction for objectively justified reasons.+}

## Paragraph 2

2. Payment initiation service providers shall not: (a) {+without prejudice to Article 45(2), point (d), +}store sensitive payment data of the payment service user; (b) request from the payment service user any data other than those necessary to provide the payment initiation service; (c) process any personal or non-personal data (including use, access or storage of data) for purposes other than for the provision of the payment initiation service as permitted by the payment services user; (d) modify the amount, the payee or any other feature of the transaction.