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Article L133-36 of the French Monetary and Financial Code

Redemption under this section shall be made, at the option of the electronic money holder, in legal tender coins and banknotes or by a payment transaction ordered by the issuer for the benefit of the electronic money holder. For redemption in coins and banknotes, the electronic money issuer may agree with the holder on redemption by transmission of funds. Notwithstanding any clause to the contrary, the electronic money issuer shall…

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Article L133-39 of the French Monetary and Financial Code

I. – Where the payment is initiated by means of a card-linked payment instrument, the payment service provider managing the account shall, at the request of one of the payment service providers issuing that instrument, immediately confirm whether the amount required to execute the card-linked payment transaction is available on the payer’s payment account, provided that all of the following conditions are met: 1° The payer’s payment account is accessible…

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Article L133-40 of the French Monetary and Financial Code

I. – Provided that the payment account is accessible online, the payer may contact a payment service provider of his choice to obtain the payment initiation service referred to in 7° of II of Article L. 314-1. Where the payer gives his explicit consent to the execution of a payment in accordance with Article L. 133-6, the payment service provider managing the account shall carry out the actions provided for…

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Article L133-41 of the French Monetary and Financial Code

I. – Provided that their payment account is accessible online, payment service users may access their payment account data via a payment service provider of their choice providing the account information service referred to in 8° of II of Article L. 314-1. II. – When providing the account information service, the payment service provider : 1° obtains the express consent of the payment service user ; 2° Ensure that the…

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Article L133-42 of the French Monetary and Financial Code

Where a payment transaction is initiated via the payee as part of a card-related payment transaction and the exact amount is not known at the time the payer gives his consent to the execution of the payment transaction, the payer’s payment service provider may block funds on the payer’s payment account only if the payer has given his consent as to the exact amount of funds to be blocked.

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Article L133-43 of the French Monetary and Financial Code

The payer’s payment service provider shall release the funds blocked on the payer’s payment account referred to in Article L. 133-42 without undue delay after receiving information on the exact amount of the payment transaction and at the latest immediately after receiving the payment order.

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Article L133-44 of the French Monetary and Financial Code

I. – The payment service provider shall apply the strong customer authentication defined in f of Article L. 133-4 when the payer : 1° Accesses his online payment account ; 2° Initiates an electronic payment transaction; 3° Carries out a transaction using a remote means of communication likely to involve a risk of payment fraud or any other fraudulent use. II. – For remote electronic payment transactions, the strong customer…

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Article L133-45 of the French Monetary and Financial Code

Payment service providers shall establish and implement procedures for dealing with payment service users’ complaints concerning compliance with the provisions of Section 5 of Chapter II of Title I of Book I, Chapter III of Title III of Book I, Chapter IV of Title I of Book III and Chapter I of Title II of Book V. These procedures shall be available in one of the official languages of the…

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