New regulations are being implemented across the EU and EFTA countries (Iceland, Norway, Liechtenstein) starting 14th September 2019 concerning online payments and banking. These regulations impact methods that rely on banking systems such as credit cards, SOFORT, Giropay, online transfers, etc. These regulations, instituted by the EU's Payment Services Directive 2 (PSD2), aim to enhance the security of payments and online banking while shielding consumers from fraud. As part of this transition, Strong Customer Authentication (SCA) will be necessary during both payment transactions and online banking. |
Aug 26, 2019, 06:44 AM
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