Is The Payee Information Provided To The Payer Accurate And Meaningful? – A PSP's Obligation Under The PSD

"A payer's PSP is required to provide that payer with information enabling the payee who benefited from a payment transaction to be identified and not only the information which that PSP, after making its best efforts, has available with regard to that payment transaction" – judgement of the Court of Justice (CJEU) of the 16 March 2023.

In a judgement of the Court of Justice (Fifth Chamber) (the "Court") of 16 March 2023, C-351/21 in connection with a reference for a preliminary ruling, the Court dealt with the extent of the obligation of a payment service provider ("PSP") to provide a payer with information relating to the payee.¹ Additionally, it is interesting to note that this point was being considered vis-à-vis "unauthorised transactions. (Although this judgement was given with reference to a framework contract considered to be regulated by Directive 2007/64/EC ("PSD1"), the relative quoted PSD1 provisions are likewise applicable under Directive 2015/2366