Information provided to the payee on individual payment transaction

Article 58(1) PSD2 stipulates that the payee’s payment service provider shall provide the payee without undue delay with certain information after the execution of an individual payment transaction. Article 58(2) PSD2 provides that “a framework contract may include a condition that the information referred to in paragraph 1 is to be provided or made available periodically, at least once a month and in an agreed manner which allows the payee to store and reproduce information unchanged”. Article 58(2) PSD2 is to be understood as providing parties to a framework contract with the possibility to deviate from the default frequency and manner in which the information in paragraph 1 is to be provided or made available. This interpretation is supported by recital 57, which clarifies that “(…) it should be possible for the payment service provider and the payment service user to agree in the framework contract on the manner in which subsequent information on executed payment transactions is to be given (…)”. If a framework contract includes a condition as referred to in Article 58(2) PSD2, the payee’s payment service provider is not obliged to also provide the payee after the execution of an individual payment transaction without undue delay with the information set out in Article 58(1)(a)-(e) PSD2.   Disclaimer: The answer clarifies provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.