What DIRECTIVE (EU) 2015/2366 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 25 November 2015 on payment services in the internal market - Article 66: Non-execution or defective or late execution of payment transactions requires
This article establishes the liability of a payer's payment service provider (PSP) for non-executed, defective, or late payment transactions, mandating a refund and account restoration, and outlines the process for tracing transactions and transferring liability to the payee's PSP.
Pillar: Banking & Global Finance · Authority: European Parliament and Council of the European Union · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:32015L2366
SHA-256 integrity: 91a1b8277a973ce3373900e276340df16ab5dea2a1a8645ee88cc150c1d1eebf
Primary Citations — 5 traced to source
- Article 66(1): Where a payment order is initiated by the payer, his payment service provider shall, without prejudice to Article 58, Article 83(1) and Article 84, be liable to the payer for correct execution of the payment transaction unless it can prove to the payer and, where relevant, to the payee's payment service provider that the payee's payment service provider received the amount of the payment transaction in accordance with Article 78(1).
- Article 66(1): ...the payer's payment service provider shall, without undue delay, refund to the payer the amount of the non-executed or defective payment transaction and, where applicable, restore the debited payment account to the state in which it would have been had the defective payment transaction not taken place.
+ 3 more citations (full bibliography, deterministic workflow, actionable schema and crosswalks) included in the vault unlock — $0.01 via Skyfire / L402 / Direct Base USDC.
Access
- Discovery (free): /api/v1/nodes/psd2-directive-article-66-liability-of-payment-service-providers.json — 6-field metadata
- Vault (full node): /api/v1/vault/nodes/psd2-directive-article-66-liability-of-payment-service-providers.json — full 13-key payload, $0.01 USDC (L402/Skyfire/Direct Base)
- Canonical URL: https://bidda.com/intelligence/psd2-directive-article-66-liability-of-payment-service-providers
- Back to registry: Browse all 10,085 compliance nodes