Broad industry coalition voices concerns over unbalanced refund right in the EU Payments Services Regulation

The 18 signatories represent European and international companies from a wide range of sectors — including technology, culture, media, content providers, banking, hospitality, travel, e-commerce and fintech. In the context of the Trilogue negotiations on the EU Payment Services Regulation (PSR), they express collective concern about the proposed introduction of an unconditional refund right for merchant-initiated transactions (MITs) under Article 62(1).

The European Parliament has recognised the inherent risks of this measure and excluded MITs from the scope of the refund right in its text, while maintaining it for SEPA Direct Debits (SDDs). The signatories urge the co-legislators to uphold the Parliament’s approach, ensuring that the PSR protects consumers without undermining trust, legal certainty, and sustainable business models across the European economy.