Abstract

The essay addresses the topic of technological evolution in the payment system, focusing on the figure of contactless payment cards and the issue of unauthorized use by the holder. Having defined the discipline of payment instruments and the liability regime of payment service providers under the PSD2, the contribution examines the decision of the ECJ in the Deniz Bank case. It makes some critical remarks with respect to the methodological approach of the Court, marked by an unjustified interpretative formalism and little inclined to an exegesis based on the parameter of efficiency, according to the models offered by Economic Analysis of Law.