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  • OB-2.3 OB-2.3 Payment Transactions

    • Consent to Initiate Payment Transactions

      • OB-2.3.1

        A payment transaction is to be regarded as having been authorised by the payer for the purposes of this Module only if the payer has given its consent to:

        (a) the execution of the payment transaction; or
        (b) the execution of a series of payment transactions of which that payment transaction forms part.
        Added: December 2018

      • OB-2.3.2

        For the purpose of Paragraph OB-2.3.1, such consent must be given in the form, and in accordance with the procedure, agreed between the licensee maintaining the customer account, the payer and the PISP and may be given via the payee or a PISP.

        Added: December 2018

      • OB-2.3.3

        PISP must ensure that the payer can withdraw its consent to a payment transaction at any time before the point at which the payment order can no longer be revoked under the terms of the framework contract with the customer.

        Added: December 2018

      • OB-2.3.4

        The customer may withdraw its consent to the execution of a series of payment transactions at any time with the effect that any future payment transactions are not regarded as authorised for the purposes of this section.

        Added: December 2018

    • Limits on Payment Transactions

      • OB-2.3.5

        The PISP may agree on payment transaction limits based on its own discretion or on account of the following limitations:

        (a) limits imposed by the CBB from time to time;
        (b) limits imposed by any of the licensees; and/or
        (c) limits imposed based on customer request.
        Added: December 2018

      • OB-2.3.6

        Subject to the framework contract, a PISP has the right to stop the use of a payment instrument on reasonable ground relating to:

        (a) the security of the payment instrument; or
        (b) the suspected unauthorised or fraudulent use of the payment instrument.
        Added: December 2018

      • OB-2.3.7

        PISPs must ensure that a customer to whom a payment instrument has been issued must keep safe the personalised security credentials and must:

        (a) use it in accordance with the terms and conditions governing such use; and
        (b) notify the PISP in an agreed manner and without undue delay on becoming aware of the loss, theft, misappropriation or unauthorised use of the payment instrument.
        Added: December 2018

    • Fees and charges

      • OB-2.3.8

        The AISPs and PISPs may charge fees and charges which reasonably corresponds to the AISP’s or PISP’s costs, as the case may be, which must be explicitly agreed in the framework contract.

        Amended: July 2021
        Added: December 2018