This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies.

! We’ve updated our Privacy Statement.

×

PSD2 UPDATE

Is Your Business Ready for PSD2?

From 14 September 2019, Strong Customer Authentication (SCA) will apply to electronic payments within the European Economic Area*.

How does this impact your business?

SCA requires that all applicable payments comply with specific authentication requirements, including 3-D Secure (3DS). 

To accept payments in Europe or from European customers, we recommend that you set up an account with CyberSource, which enables you to use 3-D Secure and provides a host of products and services that can help your business grow. 

SCA Timeline Update

The European Banking Authority (EBA) recently issued an Opinion on Strong Customer Authentication (SCA) recognising the challenge for the industry to meet the deadline and accepting that on an exceptional basis, local regulators may decide to work with stakeholders to provide additional time to migrate to SCA-compliant solutions.

The UK’s Financial Conduct Authority (FCA) also recently agreed to an 18-month plan to implement SCA with the ecommerce industry. The FCA will not take any enforcement action against businesses if they do not meet the relevant requirements for SCA, where there is evidence that they have taken the necessary steps to comply with the plan. 

Though the legal deadline remains 14 September 2019, local regulators, such as the FCA, may agree to some flexibility in exceptional circumstances, giving the industry time to implement SCA and to ensure that customers and merchants continue to enjoy secure and seamless ecommerce.


* This requirement is related to the Second Payment Services Directive (PSD2). The regulation impacts certain electronic payments where both the issuer and acquirer are located in the EEA (European Economic Area).