Contracts between banks in cashless payment transactions and third-party claims settlement
The contractual relationships between the banks involved in cashless payment transactions do not have a protective effect in favor of third parties; as the Federal Court of Justice ruled in a recent judgment, the principles of third-party damage liquidation apply in this respect. The payment service provider of the payee is obliged to inform its intermediary bank that the interests of the payer are at risk if the risk is objectively evident. If a bank breaches a duty to warn or inform in payment transactions, the presumption of correct disclosure applies, which reverses the burden of presentation and proof in favor of the party to be informed.