What information must payment service providers include for a payee under FTR regulations?

The correct answer is that payment service providers must include the payee's name, address, ID number, and birthdate under the FTR (Funds Transfer Regulation) regulations. This comprehensive information is critical for ensuring that transactions can be verified and traced efficiently, which enhances the overall security and integrity of the payment process.

Including detailed information such as the payee's ID number and birthdate helps prevent fraud and confirms the identity of the individual receiving the payment. These requirements are especially important in combating money laundering and other financial crimes, where accurate identification of parties involved in transactions is essential for regulatory compliance.

Moreover, the inclusion of the payee's address supports any necessary customer due diligence processes, allowing for better tracking of the transaction and associated parties. Overall, the comprehensive nature of the required information under FTR regulations reflects the importance of maintaining accountability and transparency in financial transactions.