The European Banking Authority (EBA) published today an Opinion on the deadline for the migration to SCA under the revised Payment Services Directive (PSD2) for e-commerce card-based payment transactions. The Opinion sets the deadline to 31 December 2020 and prescribes the expected actions to be taken during the migration period. Today’s Opinion also recommends national competent authorities (NCAs) to take a consistent approach toward the SCA migration period across the EU and […]
European Payment Institutions Federation (EPIF), European Association of Payments Service Providers For Merchants (EPSM), European Banking Federation (EBF), European Hotel Forum (EHF), Ecommerce Europe, EuroCommerce, Visa and Mastercard, has taken the lead on a further joint industry letter to the EBA on SCA Implementation. The organisations jointly share the goal of a harmonised EU implementation of SCA. In a first instance they have therefore called on the EBA to use […]
The UK’s Financial Conduct Authority is set to delay enforcement of PSD2’s SCA by more than 18 months, after warnings that the rules would threat online sales, according to Financial Times. New “strong customer authentication” rules, which will require most online payments to go through an extra level of verification to reduce fraud, are due to be introduced in September, but industry groups said that a lack of preparedness would make […]
This is the second piece in an ongoing series called Tink Thinks: Inside the EBA, where Tink’s experts explain and comment on the business of the European Banking Authority’s (EBA) PSD2 API working group, which is helping to ease the implementation process ahead of the September deadline. The series Tink Thinks: Inside the EBA is part of a broader public policy effort at Tink to advocate for third-party providers (TPPs), so that […]