CJEU rules on scope of variation provisions under PSD2

Banks and other payment service providers will be relieved to hear that the CJEU in the case of DenizBank AG v Verein für Konsumenteninformation has not followed the previous Advocate General’s (AG) opinion that tacit (or passive) acceptance of changes to T&Cs in payment services contracts could only be available for 'non-essential changes'. Instead, the CJEU found that PSD2 does not restrict the type of terms that can be changed by tacit consent, but where the payment service user is a consumer the UCTD applies. However, the Court has confirmed the AG’s other finding that contactless functionality is a separate payment instrument.

Do you like what you are reading?

Please log-in or register to access Engage and set your preferences

New to Engage?

Create a free account for access to this publication and our vast catalogue of legal updates

Already Registered?

Log-in to continue reading


Log-in

 

This website is operated by Hogan Lovells Solutions Limited, whose registered office is at 21 Holborn Viaduct, London, United Kingdom, EC1A 2DY. Hogan Lovells Solutions Limited is a wholly-owned subsidiary of Hogan Lovells International LLP but is not itself a law firm. For further details of Hogan Lovells Solutions Limited and the international legal practice that comprises Hogan Lovells International LLP, Hogan Lovells US LLP and their affiliated businesses ("Hogan Lovells"), please see our Legal Notices page. © 2022 Hogan Lovells.

Attorney advertising. Prior results do not guarantee a similar outcome.