Nocashevents UK’s Financial Conduct Authority to delay enforcement of new EU online payments regulations by more than 18 months

UK’s Financial Conduct Authority to delay enforcement of new EU online payments regulations by more than 18 months

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 […]

Nocashevents PSD2: transitional period for strong customer authentication for online card payments in Italy

PSD2: transitional period for strong customer authentication for online card payments in Italy

In accordance with the decisions taken at European level, the Bank of Italy has decided to provide the Italian financial industry additional time to complete the adjustments required by law concerning the security of card-based online payments. The second Payment Services Directive (PSD2) and the related regulatory technical standards set 14 September 2019 as the deadline for the mandatory adoption by banks and other payment service providers of strong customer […]

Nocashevents The European body representing the interests of payments service providers for merchants calls for 18-month extension to SCA rules under PSD2

The European body representing the interests of payments service providers for merchants calls for 18-month extension to SCA rules under PSD2

The European trade association (EPSM) fears that the uncoordinated delegation of the migration plan responsibilities to national competent authorities will lead to a very heterogeneous situation within the European Union. Therefore, EPSM recommends that „all regions should agree an additional timeframe of 18 months for standard applications, as well as up to 36 months for challenging applications, such as those in the travel and hospitality sector.”, according to a press release. […]