French Business Law - French Legislation

Article L133-4 of the French Monetary and Financial Code

November 8, 2023

For the purposes of this Chapter : (a) personalised security data means personalised data provided to a payment service user by the payment service provider for authentication purposes ; b) A unique identifier means a combination of letters, numbers or symbols indicated to the payment service user by the payment service provider, which the payment service user must provide in order to allow, alternatively or cumulatively, the certain identification of…

Article L133-5 of the French Monetary and Financial Code

November 8, 2023

The liability provided for in Sections 2 to 9 of this Chapter shall not apply in cases of force majeure or where the payment service provider is bound by other legal obligations under national or Community legislation.

Article L133-6 of the French Monetary and Financial Code

November 8, 2023

I. – A payment transaction is authorised if the payer has given his consent to its execution. However, the payer and his payment service provider may agree that the payer may give his consent to the payment transaction after it has been executed. II. – A series of payment transactions is authorised if the payer has given his consent to the execution of the series of transactions, in particular in…

Article L133-7 of the French Monetary and Financial Code

November 8, 2023

Consent is given in the form agreed between the payer and his payment service provider. Consent may be given through the payee or through a payment service provider providing a payment initiation service referred to in 7° of II of Article L. 314-1. In the absence of such consent, the payment transaction or series of payment transactions is deemed to be unauthorised. Consent may be withdrawn by the payer as…

Article L133-8 of the French Monetary and Financial Code

November 8, 2023

I. – The payment service user may not revoke a payment order once it has been received by the payer’s payment service provider unless otherwise provided for in this article. II. – Where the payment transaction is initiated by the payee or by the payer giving a payment order through the payee, the payer may not revoke the payment order after transmitting the payment order to the payee or giving…

Article L133-9 of the French Monetary and Financial Code

November 8, 2023

The time of receipt is the time at which the payment order is received by the payer’s payment service provider. If the payment service user who ordered the payment transaction and his payment service provider agree that the execution of the payment order will begin on a specific day or at the end of a specific period or on the day on which the payer has made the funds available…

Article L133-10 of the French Monetary and Financial Code

November 8, 2023

I. – Where the payment service provider refuses to execute a payment order or initiate a payment transaction, it shall notify the payment service user, or make the notification available to the payment service user in accordance with the agreed procedures, as soon as possible and, in any event, within a period which may not exceed that provided for in Article L. 133-13, and shall, if possible and unless prohibited…

Article L133-11 of the French Monetary and Financial Code

November 8, 2023

The payer’s payment service provider(s) and the payee’s payment service provider(s) and their intermediaries involved in the execution of a payment transaction transfer the total amount of the payment transaction and may not deduct charges from the amount transferred. However, the payee may agree with his payment service provider that the latter deducts the charges due to him from the amount transferred in advance. In this case, the total amount…

Article L133-12 of the French Monetary and Financial Code

November 8, 2023

Without prejudice to the provisions of Article L. 133-1, the provisions of this section apply to payment transactions carried out in euros and to payment transactions involving a single conversion between the euro and the official currency of a State party to the Agreement on the European Economic Area outside the euro zone, provided that the required conversion is carried out in that State and that, in the case of…

Article L133-13 of the French Monetary and Financial Code

November 8, 2023

I. – The amount of the payment transaction is credited to the payee’s payment service provider’s account no later than the end of the first business day following receipt of the payment order as defined in article L. 133-9. This period may be extended by a further business day for payment transactions ordered on paper. II. – The payee’s payment service provider transmits a payment order given by the payee,…

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Legislative part

Article L133-4 of the French Monetary and Financial Code

Article L133-5 of the French Monetary and Financial Code

Article L133-6 of the French Monetary and Financial Code

Article L133-7 of the French Monetary and Financial Code

Article L133-8 of the French Monetary and Financial Code

Article L133-9 of the French Monetary and Financial Code

Article L133-10 of the French Monetary and Financial Code

Article L133-11 of the French Monetary and Financial Code

Article L133-12 of the French Monetary and Financial Code

Article L133-13 of the French Monetary and Financial Code

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Legislative part

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