EU Payment Services Directive (PSD2) PSD2-Art.99_103: Out-of-court redress, competent authorities and penalties (PSD2 Articles 99-103)

Article 99 obliges Member States to ensure adequate + effective out-of-court complaint + redress procedures for disputes between PSUs and PSPs. Article 100 designates competent authorities. Article 101 requires PSPs to operate complaint procedures responding within 15 business days (extendable to 35 in exceptional cases). Article 102 requires Member States to provide for effective + proportionate + dissuasive penalties for infringements of national provisions transposing PSD2. Article 103 requires home + host Member State cooperation. Member-State penalties have ranged from administrative fines (e.g. up to EUR 5 million or 10% of annual turnover under certain transpositions for serious infringements) to authorisation withdrawal. The Article 102 penalty regime sits alongside (a) the GDPR penalty regime for data-protection infringements; (b) the DORA (Regulation (EU) 2022/2554) administrative-penalty regime for ICT-risk-management infringements that overlap PSD2 Articles 95-96; (c) Article 103 cross-border supervisory cooperation.