Chapter 6 TITLE III ‘TRANSPARENCY OF CONDITIONS AND INFORMATION REQUIREMENTS FOR PAYMENT SERVICES’, CHAPTER 1 ‘GENERAL RULES’ (ARTS 38-42), CHAPTER 2 ‘SINGLE PAYMENT TRANSACTIONS’ (ARTS 43-49), CHAPTER 3 ‘FRAMEWORK CONTRACTS’ (ARTS 50-58)
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This chapter analyses the title III of the 2015 Payment Services Directive (so called, PSD2) and covers the duties of information in the contracting relationship between the payment service provider (PSP) and the payment service user, either consumers or traders. Concerning transparency rules, there is no remarkable difference between the 2007 and the 2015 PSD. The transparency rules aim to promote competition among payment service providers, providing the users with the same level of information, in order to let them “make well-informed choices and be able to choose freely within the Union”. In addition, to enhance efficiency, the PSD2 established that the information should be proportionate to the needs of the users: this is the reason why the Title III has made a distinction between the duties of information in the single payment transaction contracts and in the framework contracts.

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