Section 7: Liability in the event of an incorrectly executed payment transaction

A payment order executed in accordance with the unique identifier provided by the Payment Service User shall be deemed to be duly executed in respect of the payee designated by the unique identifier. If the unique identifier provided by the Payment Service User is incorrect, the Payment Service Provider shall not be liable for the incorrect execution or non-execution of the payment transaction. However, the payer’s payment service provider shall…

I. – Where the payment order is given by the payer, his payment service provider shall, subject to Article L. 133-5, the second and third paragraphs of Article L. 133-21 and Article L. 133-24, be liable to the payer for the proper execution of the payment transaction until the payee’s payment service provider has received the amount of the payment transaction in accordance with I of Article L. 133-13. Thereafter,…

Without prejudice to the provisions of the second and third paragraphs of Article L. 133-21 and Article L. 133-24, where a payment order is initiated by the payer via a payment service provider providing a payment initiation service, the payment service provider managing the account shall reimburse the payer for the amount of the non-executed or incorrectly executed payment transaction and, where applicable, restore the debited payment account to the…

If the payment service provider providing a payment initiation service is responsible for the non-execution, defective execution or late execution of the payment transaction, it shall immediately compensate the payment service provider managing the account, at its request, for any losses incurred or sums paid as a result of the reimbursement of the payer.