Section 42(2)

Where this regulation applies— regulations 48 and 52 do not apply and the payment service provider is only required to provide the payer with information about the main characteristics of the payment service, including— the way in which the payment instrument can be used; the liability of the payer, as set out in regulation 77 (payer or payee's liability for unauthorised payment transactions); charges levied; any other material information the payer might need to take an informed decision; and an indication of where the information specified in Schedule 4 (prior general information for framework contracts) is made available in an easily accessible manner; the parties may agree that regulations 53 and 54 do not apply and instead— the payment service provider must provide or make available a reference enabling the payment service user to identify the payment transaction, the amount of the payment transaction and any charges payable in respect of the payment transaction; in the case of several payment transactions of the same kind made to the same payee, the payment service provider must provide or make available to the payment service user information about the total amount of the payment transactions and any charges for those payment transactions; or where the payment instrument is used anonymously or the payment service provider is not otherwise technically able to provide or make available the information specified in paragraph (i) or (ii), the payment service provider must enable the payer to verify the amount of funds stored; and the parties may agree that regulation 55(1) does not apply to information provided or made available in accordance with regulation 50.

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Source: legislation.gov.uk · retrieved 2026-09-04