§ 4-14. What the payment initiation service provider must disclose after a payment

This section requires the payment initiation service provider (the service that initiates a payment on the customer's behalf) to provide information immediately after a payment order has been initiated. The same type of service is covered in § 4-16, which states that the customer (kunde) may use such services on their own payment accounts (betalingskonto) that are accessible online.

The first subsection concerns information to the payer and, where relevant, to the payee. The payer must receive confirmation that the order has been successfully initiated with the account provider, as well as information about the amount and a reference that identifies the payment. If there are fees payable to the payment initiation service provider, the amount must be stated, broken down into individual items where relevant. The second subsection gives the payee more: all information that accompanied the payment, and a reference that makes it possible to see who the payer is. Everything must be made available immediately after the order has been initiated.

This section must be read together with § 4-15, which requires the bank to provide information. Before the bank executes an order, it must, on request, provide information about fees and how long the transaction may take. § 4-17 sets limits on what the payment initiation service provider may do. It must never hold or control the customer's money, must not change the payee, the amount or other features, and may only request information that is necessary. Other information about the payer may only be passed to the payee if the payer has expressly consented. § 4-18 concerns account information services (kontoinformasjonstjeneste), where the account information provider may only access the designated accounts and the transactions on them.

Example: A payment initiation service provider has initiated a payment for a payer. Immediately afterwards, the provider must give the payer a confirmation, the amount and a reference. The payee must receive the reference showing who the payer is, and the information that accompanied the payment.