Are account servicing payment service providers (ASPSPs) required to provide information on the initiation and execution of the payment transaction, including updates, in order for a payment initiation service provider (PISP) to comply with Article 46(a) PSD2 and pursuant to Article 36(1)(b) RTS?
The submitter refers to Article 36(1)(b) of Commission Delegated Regulation (EU) 2018/389, which largely reproduces Article 66(4)(b) of PSD2. Article 66(4)(b) of PSD2 provides that the account servicing payment service provider (ASPSP) shall ‘immediately after receipt of the payment order from a payment initiation service provider, provide or make available all information on the initiation of the payment transaction and all information accessible to the ASPSP regarding the execution of the payment transaction to the payment initiation service provider’.
The word ‘immediately’ requires the ASPSP to provide to payment initiation service providers (PISPs) all information on the initiation of the payment transaction and all information accessible to the ASPSP on the execution of the payment transaction immediately after the receipt of the payment order communicated by the PISP. This means that if the ASPSP is not aware immediately after the receipt of the payment order whether the payment will be executed or not, it is not necessarily required to provide such information to the PISP at a later stage. However, according to Article 36(1)(c) of the Delegated Regulation, the ASPSP shall provide, upon request, a yes/no answer whether the amount necessary for the execution of a payment transaction is available on the payment account of the payer. The yes/no answer should be based on the same analysis the ASPSP would carry out to determine whether or not to execute a payment order received directly from the payment service user (PSU).
With regard to the reference by the submitter to Article 46(a) of PSD2 and the requirement for PISPs to provide information to the PSU on the initiation of the payment, the scope of the information requirement in Article 46(a) is limited to a “confirmation of the successful initiation of the payment order with the payer’s ASPSP” and does not entail the confirmation of the payment execution.
This question goes beyond matters of consistent and effective application of the regulatory framework. A Directorate General of the Commission (Directorate General for Financial Stability, Financial services and Capital Markets Union) has prepared the answer, albeit that only the Court of Justice of the European Union can provide definitive interpretations of EU legislation. This is an unofficial opinion of that Directorate General, which the European Banking Authority publishes on its behalf. The answers are not binding on the European Commission as an institution. You should be aware that the European Commission could adopt a position different from the one expressed in such Q&As, for instance in infringement proceedings or after a detailed examination of a specific case or on the basis of any new legal or factual elements that may have been brought to its attention.