#2017-1252Payment Services Regulation in France
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This law updates France's payment services rules to align with EU standards. It limits the fees payment service providers can charge and mandates full disclosure of fees before payment initiation. The changes primarily affect businesses that provide or use payment services, ensuring they cannot impose unfair costs. Both payers and payment service providers need to comply to foster transparency and promote fair competition.
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Key Changes
- Caps fees charged by payment service providers
- Requires full fee disclosure before payment initiation
- Aligns French laws with EU standards for fair competition
Obligations
What this law requires
Payment service providers must not contractually limit the ability of beneficiaries to apply fees, offer reductions to payers, or direct them toward specific payment instruments
Fees applied for payment instrument usage must not exceed the direct costs borne by the beneficiary for that instrument's use
Payment service providers or other parties applying fees must inform the payment service user of the fee amount before payment initiation
Payers are only obligated to pay fees if they had knowledge of the total fee amount before payment initiation
Payment service providers must verify user identity or validity of payment instrument use through authentication procedures, including use of personalized security data